XL Holdings Correlations

7121 Stock   0.52  0.00  0.00%   
The current 90-days correlation between XL Holdings Bhd and Malayan Banking Bhd is 0.11 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as XL Holdings moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if XL Holdings Bhd moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

XL Holdings Correlation With Market

Good diversification

The correlation between XL Holdings Bhd and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding XL Holdings Bhd and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to XL Holdings could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace XL Holdings 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 XL Holdings - 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 XL Holdings Bhd to buy it.

Moving together with 7121 Stock

  0.665183 Petronas ChemicalsPairCorr
  0.769008 Omesti BhdPairCorr

Moving against 7121 Stock

  0.781066 RHB Bank BhdPairCorr
  0.710129 Silver Ridge HoldingsPairCorr
  0.645162 ECS ICT BhdPairCorr
  0.644731 Scientex BhdPairCorr
  0.625292 Uwc BhdPairCorr
  0.595168 Hartalega Holdings BhdPairCorr
  0.445306 FARM FRESH BERHADPairCorr
  0.423255 Heineken BhdPairCorr

Related Correlations Analysis

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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   
53471155
51831155
38165347
38161155
60335819
88691295
  
High negative correlations   
38165225
52251295
60335225
52255347
88695347
52251155

Risk-Adjusted Indicators

There is a big difference between 7121 Stock performing well and XL Holdings 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 XL Holdings' 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.

XL Holdings Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with XL Holdings stock to make a market-neutral strategy. Peer analysis of XL Holdings could also be used in its relative valuation, which is a method of valuing XL Holdings by comparing valuation metrics with similar companies.
 Risk & Return  Correlation