Tangerine Beach Correlations
| TANGN0000 | LKR 73.00 0.70 0.97% |
The current 90-days correlation between Tangerine Beach Hotels and Lanka Credit and is 0.26 (i.e., Modest diversification). The correlation of Tangerine Beach 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.
Tangerine Beach Correlation With Market
Good diversification
The correlation between Tangerine Beach Hotels and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tangerine Beach Hotels and DJI in the same portfolio, assuming nothing else is changed.
Tangerine |
The ability to find closely correlated positions to Tangerine Beach could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Tangerine Beach 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 Tangerine Beach - 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 Tangerine Beach Hotels to buy it.
Moving together with Tangerine Stock
| 0.76 | PLRN0000 | Prime Lands Residencies | PairCorr |
| 0.85 | JATN0000 | Jat Holdings PLC | PairCorr |
| 0.64 | LCBFN0000 | Lanka Credit | PairCorr |
Moving against Tangerine Stock
Related Correlations Analysis
| 0.45 | 0.54 | 0.83 | 0.65 | 0.59 | 0.64 | 0.74 | 0.66 | LCBFN0000 | ||
| 0.45 | 0.48 | 0.38 | 0.71 | 0.26 | 0.61 | 0.43 | 0.6 | VLLX0000 | ||
| 0.54 | 0.48 | 0.7 | 0.9 | 0.8 | 0.87 | 0.8 | 0.89 | CARSN0000 | ||
| 0.83 | 0.38 | 0.7 | 0.73 | 0.8 | 0.74 | 0.9 | 0.81 | PINSN0000 | ||
| 0.65 | 0.71 | 0.9 | 0.73 | 0.75 | 0.91 | 0.82 | 0.93 | NTBN0000 | ||
| 0.59 | 0.26 | 0.8 | 0.8 | 0.75 | 0.67 | 0.9 | 0.86 | MRHN0000 | ||
| 0.64 | 0.61 | 0.87 | 0.74 | 0.91 | 0.67 | 0.72 | 0.81 | DISTN0000 | ||
| 0.74 | 0.43 | 0.8 | 0.9 | 0.82 | 0.9 | 0.72 | 0.92 | PALMN0000 | ||
| 0.66 | 0.6 | 0.89 | 0.81 | 0.93 | 0.86 | 0.81 | 0.92 | SHOTN0000 | ||
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Risk-Adjusted Indicators
There is a big difference between Tangerine Stock performing well and Tangerine Beach 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 Tangerine Beach'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| LCBFN0000 | 2.68 | 0.38 | 0.07 | 0.59 | 2.61 | 5.00 | 14.07 | |||
| VLLX0000 | 1.46 | 0.09 | 0.02 | 0.19 | 2.27 | 4.56 | 21.17 | |||
| CARSN0000 | 1.30 | 0.34 | 0.09 | (0.72) | 1.21 | 3.73 | 10.24 | |||
| PINSN0000 | 1.63 | 0.50 | 0.21 | (1.80) | 1.17 | 4.76 | 9.76 | |||
| NTBN0000 | 1.27 | 0.57 | 0.39 | (2.11) | 0.61 | 3.96 | 6.18 | |||
| MRHN0000 | 2.49 | 0.83 | 0.18 | (0.74) | 2.09 | 8.70 | 20.33 | |||
| DISTN0000 | 1.04 | 0.54 | 0.39 | (1.83) | 0.30 | 3.24 | 6.36 | |||
| PALMN0000 | 2.04 | 0.84 | 0.42 | (0.85) | 0.87 | 6.85 | 11.85 | |||
| SHOTN0000 | 1.90 | 0.74 | 0.34 | 6.45 | 1.32 | 6.06 | 11.02 |
Be your own money manager
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