THE PHILIPPINE Correlations
| PSEI Index | 6,614 24.69 0.37% |
The current 90-days correlation between THE PHILIPPINE STOCK and Apex Mining Co is 0.25 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as THE PHILIPPINE moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if THE PHILIPPINE STOCK moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
The ability to find closely correlated positions to THE PHILIPPINE could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace THE PHILIPPINE 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 THE PHILIPPINE - 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 THE PHILIPPINE STOCK to buy it.
Moving together with THE Index
| 0.95 | SM | SM Investments Corp | PairCorr |
| 0.83 | AC | Ayala Corp | PairCorr |
| 0.84 | ALI | Ayala Land | PairCorr |
| 0.81 | BDO | BDO Unibank | PairCorr |
| 0.84 | TEL | PLDT Inc | PairCorr |
| 0.86 | AEV | Aboitiz Equity Ventures | PairCorr |
Related Correlations Analysis
| 0.12 | 0.01 | 0.12 | 0.1 | 0.52 | APX | ||
| 0.12 | 0.69 | 0.5 | 0.6 | 0.63 | LC | ||
| 0.01 | 0.69 | 0.54 | 0.65 | 0.56 | PHA | ||
| 0.12 | 0.5 | 0.54 | 0.73 | 0.61 | JFC | ||
| 0.1 | 0.6 | 0.65 | 0.73 | 0.75 | CEBCP | ||
| 0.52 | 0.63 | 0.56 | 0.61 | 0.75 | AT | ||
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Risk-Adjusted Indicators
There is a big difference between THE Index performing well and THE PHILIPPINE Index 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 THE PHILIPPINE'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| APX | 1.41 | (0.16) | 0.00 | 0.38 | 0.00 | 2.38 | 9.21 | |||
| LC | 2.63 | 0.19 | (0.01) | (0.12) | 2.54 | 7.46 | 19.01 | |||
| PHA | 2.28 | 0.14 | 0.00 | 16.22 | 2.57 | 5.88 | 16.37 | |||
| JFC | 1.22 | 0.05 | (0.07) | (0.05) | 1.43 | 2.85 | 8.96 | |||
| CEBCP | 1.29 | 0.02 | (0.05) | 0.43 | 1.53 | 3.40 | 9.08 | |||
| AT | 1.14 | 0.04 | (0.05) | 0.01 | 1.81 | 3.02 | 10.90 |
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THE PHILIPPINE Distribution of Returns
Predicted Return Density |
| Returns |
What Drives a THE PHILIPPINE Price Volatility?
Several factors can influence a index's market volatility:Industry
Specific events can influence volatility within a particular industry. For instance, a significant weather upheaval in a crucial oil-production site may cause oil prices to increase in the oil sector. The direct result will be the rise in the stock price of oil distribution companies. Similarly, any government regulation in a specific industry could negatively influence stock prices due to increased regulations on compliance that may impact the company's future earnings and growth.Political and Economic environment
When governments make significant decisions regarding trade agreements, policies, and legislation regarding specific industries, they will influence stock prices. Everything from speeches to elections may influence investors, who can directly influence the stock prices in any particular industry. The prevailing economic situation also plays a significant role in stock prices. When the economy is doing well, investors will have a positive reaction and hence, better stock prices and vice versa.The Company's Performance
Sometimes volatility will only affect an individual company. For example, a revolutionary product launch or strong earnings report may attract many investors to purchase the company. This positive attention will raise the company's stock price. In contrast, product recalls and data breaches may negatively influence a company's stock prices.THE PHILIPPINE Against Global Markets
| ISEQ 20 | 1.06 | |||||
| GDAXI | 1.03 | |||||
| NYA | 0.31 | |||||
| CROBEX | 0.09 | |||||
| TWII | 0.16 | |||||
| PSI 20 | 0.20 | |||||
| PSEI | 0.37 | |||||
| Budapest | 0.56 | |||||
| IDX 30 | 2.01 |
