TPC Power Correlations

TPCH Stock  THB 4.68  0.10  2.09%   
The current 90-days correlation between TPC Power Holding and Thai Solar Energy is 0.01 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as TPC Power moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if TPC Power Holding moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

TPC Power Correlation With Market

Average diversification

The correlation between TPC Power Holding and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TPC Power Holding and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to TPC Power could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace TPC Power 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 TPC Power - 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 TPC Power Holding to buy it.

Moving together with TPC Stock

  0.82BGRIM BGrimm Power PublicPairCorr
  0.86BGRIM-R B GRIMM POWERPairCorr
  0.79BPP-R BANPU POWERPairCorr
  0.8SUPER Super EnergyPairCorr
  0.84SPCG SPCG PublicPairCorr
  0.8METCO Muramoto Electron PublicPairCorr

Moving against TPC Stock

  0.78SCB SCB X PublicPairCorr
  0.75GULF-R GULF ENERGY DEVELOPMENTPairCorr
  0.68COM7 Com7 PCLPairCorr
  0.67ADVANC Advanced Info ServicePairCorr
  0.52SAM Samchai Steel IndustriesPairCorr
  0.51TIPCO Tipco Foods PublicPairCorr
  0.49RCL-R Regional Container LinesPairCorr
  0.48TRU Thai Rung UnionPairCorr
  0.46GYT Goodyear PublicPairCorr
  0.36TLI Thai Life InsurancePairCorr
  0.33ASN ASN Broker PublicPairCorr

Related Correlations Analysis

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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   
TSEEA
TMILLEA
TSETPIPL
TPIPLEA
TMILLTSE
TMILLTPIPL
  
High negative correlations   
TSEWHA
EAWHA
TPIPLWHA
TMILLWHA

Risk-Adjusted Indicators

There is a big difference between TPC Stock performing well and TPC Power 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 TPC Power'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in TPC Power 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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