Bangkok Chain Correlations
| BCH-R Stock | THB 15.30 0.22 1.42% |
The current 90-days correlation between Bangkok Chain Hospital and Chularat Hospital Public is 0.22 (i.e., Modest diversification). The correlation of Bangkok Chain is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Bangkok Chain Correlation With Market
Significant diversification
The correlation between Bangkok Chain Hospital and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bangkok Chain Hospital and DJI in the same portfolio, assuming nothing else is changed.
Bangkok |
The ability to find closely correlated positions to Bangkok Chain could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bangkok Chain 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 Bangkok Chain - 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 Bangkok Chain Hospital to buy it.
Moving together with Bangkok Stock
| 0.96 | BDMS-R | Bangkok Dusit Medical | PairCorr |
| 0.99 | CHG-R | Chularat Hospital Public | PairCorr |
| 0.94 | ACAP | ASIA Capital Group | PairCorr |
| 0.67 | RCL-R | Regional Container Lines | PairCorr |
Moving against Bangkok Stock
Related Correlations Analysis
| 0.15 | 0.5 | 0.31 | 0.72 | 0.9 | BDMS | ||
| 0.15 | 0.12 | 0.18 | 0.29 | 0.14 | BCH-R | ||
| 0.5 | 0.12 | 0.39 | 0.63 | 0.57 | CHG | ||
| 0.31 | 0.18 | 0.39 | 0.55 | 0.28 | NTV | ||
| 0.72 | 0.29 | 0.63 | 0.55 | 0.74 | EKH | ||
| 0.9 | 0.14 | 0.57 | 0.28 | 0.74 | M-CHAI | ||
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Risk-Adjusted Indicators
There is a big difference between Bangkok Stock performing well and Bangkok Chain 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 Bangkok Chain'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| BDMS | 1.13 | (0.33) | 0.00 | (0.49) | 0.00 | 1.72 | 7.36 | |||
| BCH-R | 0.63 | (0.21) | 0.00 | (1.78) | 0.00 | 1.93 | 7.61 | |||
| CHG | 1.57 | (0.18) | 0.00 | (0.24) | 0.00 | 2.82 | 8.48 | |||
| NTV | 0.60 | (0.06) | 0.00 | (1.03) | 0.00 | 0.81 | 3.16 | |||
| EKH | 0.76 | (0.17) | 0.00 | (5.12) | 0.00 | 1.52 | 4.68 | |||
| M-CHAI | 1.14 | (0.30) | 0.00 | 3.11 | 0.00 | 2.63 | 11.15 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Bangkok Chain 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?
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