Sapura Industrial Correlations

7811 Stock

0.82 0.07 7.87%

The current 90-days correlation between Sapura Industrial Bhd and Eversafe Rubber Bhd is -0.39 (i.e., Very good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Sapura Industrial moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Sapura Industrial Bhd moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

The ability to find closely correlated positions to Sapura Industrial could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Sapura Industrial 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 Sapura Industrial - 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 Sapura Industrial Bhd to buy it.

Moving together with Sapura Stock

0.68	5168	Hartalega Holdings Bhd	Pair Corr
0.72	7153	Kossan Rubber Industries	Pair Corr
0.61	1066	RHB Bank Bhd	Pair Corr
0.65	0104	Genetec Technology Bhd	Pair Corr

Moving against Sapura Stock

0.68	1155	Malayan Banking Bhd	Pair Corr
0.63	0190	Eversafe Rubber Bhd	Pair Corr
0.57	5347	Tenaga Nasional Bhd	Pair Corr
0.46	5183	Petronas Chemicals	Pair Corr

Related Correlations Analysis

	7811	0190	5116	7172	0029	7219	7233	0148	5306	2143
7811		-0.63	0.32	-0.3	0.06	-0.16	0.15	-0.41	0.19	-0.19	7811
0190	-0.63		-0.6	0.6	-0.03	-0.08	0.32	0.59	-0.49	0.26	0190
5116	0.32	-0.6		-0.64	0.01	0.32	-0.39	-0.57	0.57	-0.39	5116
7172	-0.3	0.6	-0.64		-0.09	-0.27	0.62	0.14	-0.62	0.11	7172
0029	0.06	-0.03	0.01	-0.09		-0.01	-0.25	-0.19	-0.13	-0.36	0029
7219	-0.16	-0.08	0.32	-0.27	-0.01		-0.3	0.01	0.43	-0.07	7219
7233	0.15	0.32	-0.39	0.62	-0.25	-0.3		0.15	-0.3	0.09	7233
0148	-0.41	0.59	-0.57	0.14	-0.19	0.01	0.15		-0.14	0.53	0148
5306	0.19	-0.49	0.57	-0.62	-0.13	0.43	-0.3	-0.14		0.08	5306
2143	-0.19	0.26	-0.39	0.11	-0.36	-0.07	0.09	0.53	0.08		2143
	7811	0190	5116	7172	0029	7219	7233	0148	5306	2143

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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

7233	+ 0.62	7172
7172	+ 0.6	0190
0148	+ 0.59	0190
5306	+ 0.57	5116
2143	+ 0.53	0148
5306	+ 0.43	7219

High negative correlations

7172	- 0.64	5116
0190	- 0.63	7811
5306	- 0.62	7172
5116	- 0.6	0190
0148	- 0.57	5116
5306	- 0.49	0190

Risk-Adjusted Indicators

There is a big difference between Sapura Stock performing well and Sapura Industrial 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 Sapura Industrial'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
7811	0.82	0.04	(0.02)	3.69	1.41	(1.86)	2.47	(2.41)	5.95
0190	2.08	(0.17)	0.00	0.98	0.00	0.00	6.67	(6.25)	19.64
5116	0.69	0.08	(0.01)	0.49	0.60	(1.10)	1.55	(1.44)	4.40
7172	2.30	(0.17)	0.00	0.45	0.00	0.00	4.55	(6.07)	16.39
0029	3.53	(0.01)	0.00	0.09	4.75	(11.73)	10.00	(9.09)	36.67
7219	2.48	0.04	0.00	0.03	0.00	0.00	7.69	(7.14)	21.43
7233	1.51	0.06	(0.01)	0.30	1.42	(2.09)	4.30	(2.31)	11.09
0148	0.65	(0.01)	(0.03)	0.00	1.04	(3.09)	3.03	(2.94)	6.35
5306	1.04	0.09	0.01	0.45	1.13	(1.31)	2.76	(2.19)	6.78
2143	2.30	0.17	0.01	(4.65)	3.98	(11.03)	5.56	(5.26)	58.33

Be your own money manager

Our tools can tell you how much better you can do entering a position in Sapura Industrial 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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