Mycron Steel Correlations

5087 Stock

0.34 0.01 2.86%

The current 90-days correlation between Mycron Steel Bhd and PMB Technology Bhd is 0.02 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Mycron Steel moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Mycron Steel Bhd moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Mycron Steel Correlation With Market

Modest diversification

The correlation between Mycron Steel Bhd and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mycron Steel Bhd and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Mycron Steel could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Mycron Steel when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Mycron Steel - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Mycron Steel Bhd to buy it.

Moving against Mycron Stock

0.56	5168	Hartalega Holdings Bhd	Pair Corr
0.55	0240	Coraza Integrated	Pair Corr
0.54	7153	Kossan Rubber Industries	Pair Corr
0.53	1066	RHB Bank Bhd	Pair Corr
0.49	1899	Batu Kawan Bhd	Pair Corr
0.44	2445	Kuala Lumpur Kepong	Pair Corr

Related Correlations Analysis

	8869	7172	5125	5094	0240	5665	5098	5797	7217	5087
8869		0.32	0.39	-0.06	0.38	-0.35	0.65	0.09	0.02	-0.05	8869
7172	0.32		0.36	0.45	-0.11	-0.4	0.31	0.48	0.65	0.42	7172
5125	0.39	0.36		0.39	0.26	0.2	0.33	-0.06	0.22	0.27	5125
5094	-0.06	0.45	0.39		-0.46	-0.17	0.09	0.57	0.5	0.46	5094
0240	0.38	-0.11	0.26	-0.46		0.26	0.09	-0.71	-0.25	-0.55	0240
5665	-0.35	-0.4	0.2	-0.17	0.26		-0.3	-0.61	-0.51	-0.25	5665
5098	0.65	0.31	0.33	0.09	0.09	-0.3		0.33	0.2	0.14	5098
5797	0.09	0.48	-0.06	0.57	-0.71	-0.61	0.33		0.56	0.46	5797
7217	0.02	0.65	0.22	0.5	-0.25	-0.51	0.2	0.56		0.44	7217
5087	-0.05	0.42	0.27	0.46	-0.55	-0.25	0.14	0.46	0.44		5087
	8869	7172	5125	5094	0240	5665	5098	5797	7217	5087

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

5098	+ 0.65	8869
7217	+ 0.65	7172
5797	+ 0.57	5094
7217	+ 0.56	5797
7217	+ 0.5	5094
5797	+ 0.48	7172

High negative correlations

5797	- 0.71	0240
5797	- 0.61	5665
5087	- 0.55	0240
7217	- 0.51	5665
0240	- 0.46	5094
5665	- 0.4	7172

Risk-Adjusted Indicators

There is a big difference between Mycron Stock performing well and Mycron Steel Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Mycron Steel's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
8869	1.38	0.25	0.06	(0.29)	1.47	(1.76)	3.70	(3.31)	8.30
7172	2.28	(0.19)	0.00	0.46	0.00	0.00	4.55	(6.07)	16.39
5125	0.71	(0.01)	(0.07)	(0.05)	0.85	(1.23)	1.11	(2.06)	4.37
5094	0.73	(0.08)	0.00	4.83	0.00	0.00	1.68	(1.64)	4.99
0240	2.77	0.72	0.20	(4.72)	1.79	(6.10)	5.66	(2.56)	42.08
5665	2.21	0.12	0.02	0.41	2.43	(4.01)	6.12	(3.92)	14.35
5098	1.40	0.11	0.01	2.44	1.62	(3.41)	3.23	(3.12)	12.51
5797	1.34	(0.17)	0.00	0.37	0.00	0.00	2.90	(4.76)	14.55
7217	1.96	(0.29)	0.00	(0.37)	0.00	0.00	6.25	(5.71)	15.07
5087	1.82	(0.15)	0.00	(0.04)	0.00	0.00	5.41	(5.00)	19.29

Be your own money manager

Our tools can tell you how much better you can do entering a position in Mycron Steel without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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