Mr D Correlations

5296 Stock   1.80  0.02  1.10%   
The current 90-days correlation between Mr D I and Carlsberg Brewery Malaysia is 0.07 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Mr D moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Mr D I moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Mr D Correlation With Market

Average diversification

The correlation between Mr D I and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mr D I and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Mr D could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Mr D 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 Mr D - 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 Mr D I to buy it.

Moving together with 5296 Stock

  0.841155 Malayan Banking BhdPairCorr
  0.645183 Petronas ChemicalsPairCorr
  0.645347 Tenaga Nasional BhdPairCorr

Moving against 5296 Stock

  0.860083 Notion Vtec BhdPairCorr
  0.857095 PIE Industrial BhdPairCorr
  0.795162 ECS ICT BhdPairCorr
  0.590075 Lyc Healthcare BhdPairCorr
  0.562259 Talam Transform BhdPairCorr
  0.511066 RHB Bank BhdPairCorr
  0.425305 Senheng New RetailPairCorr
  0.390166 Inari Amertron BhdPairCorr
  0.790104 Genetec Technology BhdPairCorr
  0.775168 Hartalega Holdings BhdPairCorr
  0.745286 MI Technovation BhdPairCorr
  0.745292 Uwc BhdPairCorr
  0.742488 Alliance FinancialPairCorr
  0.673255 Heineken BhdPairCorr
  0.495053 OSK Holdings BhdPairCorr
  0.435238 AirAsia X BhdPairCorr
  0.390097 ViTrox BhdPairCorr
  0.380129 Silver Ridge HoldingsPairCorr
  0.357160 Pentamaster BhdPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
02512836
50940195
50941562
56652836
56654162
50944162
  
High negative correlations   
15622836
02511562
50942836
51490251
51492836
01952836

Risk-Adjusted Indicators

There is a big difference between 5296 Stock performing well and Mr D 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 Mr D'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Mr D 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.

Did you try this?

Run Premium Stories Now

   

Premium Stories

Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope
All  Next Launch Module