Danang Rubber Correlations

DRC Stock

29,000 100.00 0.34%

The current 90-days correlation between Danang Rubber JSC and Innovative Technology Development is 0.12 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Danang Rubber moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Danang Rubber JSC moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Danang Rubber Correlation With Market

Significant diversification

The correlation between Danang Rubber JSC and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Danang Rubber JSC and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Danang Stock

0.76	ADS	Damsan JSC	Pair Corr
0.89	AAA	An Phat Plastic	Pair Corr
0.81	AME	Alphanam ME	Pair Corr
0.77	AAM	Mekong Fisheries JSC	Pair Corr
0.8	ABT	Bentre Aquaproduct Import	Pair Corr

Related Correlations Analysis

	ITD	VRE	STK	HAH	GLT	PVP	FUCVREIT
ITD		-0.59	-0.32	0.5	-0.53	-0.45	-0.44	ITD
VRE	-0.59		0.7	-0.81	0.76	0.29	0.61	VRE
STK	-0.32	0.7		-0.77	0.66	0.18	0.68	STK
HAH	0.5	-0.81	-0.77		-0.85	-0.1	-0.68	HAH
GLT	-0.53	0.76	0.66	-0.85		0.19	0.56	GLT
PVP	-0.45	0.29	0.18	-0.1	0.19		0.1	PVP
FUCVREIT	-0.44	0.61	0.68	-0.68	0.56	0.1		FUCVREIT
	ITD	VRE	STK	HAH	GLT	PVP	FUCVREIT

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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

GLT	+ 0.76	VRE
STK	+ 0.7	VRE
FUCVREIT	+ 0.68	STK
GLT	+ 0.66	STK
FUCVREIT	+ 0.61	VRE
FUCVREIT	+ 0.56	GLT

High negative correlations

GLT	- 0.85	HAH
HAH	- 0.81	VRE
HAH	- 0.77	STK
FUCVREIT	- 0.68	HAH
VRE	- 0.59	ITD
GLT	- 0.53	ITD

Risk-Adjusted Indicators

There is a big difference between Danang Stock performing well and Danang Rubber 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 Danang Rubber'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
ITD	1.19	0.14	0.03	0.55	1.58	(1.53)	2.84	(2.22)	12.11
VRE	0.95	(0.18)	0.00	(0.82)	0.00	0.00	1.87	(2.56)	5.66
STK	0.75	(0.04)	0.00	(0.17)	0.00	0.00	1.57	(1.88)	10.52
HAH	1.22	0.31	0.14	0.69	1.44	(1.38)	3.26	(1.78)	10.90
GLT	3.26	(0.39)	0.00	0.69	0.00	0.00	6.67	(8.39)	18.39
PVP	1.00	(0.11)	0.00	(0.19)	0.00	0.00	1.90	(2.42)	6.12
FUCVREIT	2.49	0.00	(0.01)	0.09	2.96	(4.37)	6.79	(6.28)	13.96

Be your own money manager

Our tools can tell you how much better you can do entering a position in Danang Rubber 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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