Construction JSC Correlations
| VC1 Stock | 8,700 200.00 2.35% |
The current 90-days correlation between Construction JSC and South Basic Chemicals is 0.17 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Construction JSC moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Construction JSC N0 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Construction JSC Correlation With Market
Good diversification
The correlation between Construction JSC N0 and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Construction JSC N0 and DJI in the same portfolio, assuming nothing else is changed.
Construction |
The ability to find closely correlated positions to Construction JSC could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Construction JSC 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 Construction JSC - 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 Construction JSC N0 to buy it.
Moving against Construction Stock
| 0.52 | JVC | Japan Vietnam Medical | PairCorr |
| 0.5 | ABS | Binhthuan Agriculture | PairCorr |
| 0.49 | FPT | FPT Corp | PairCorr |
| 0.39 | CSV | South Basic Chemicals | PairCorr |
| 0.38 | FMC | Sao Ta Foods | PairCorr |
| 0.31 | ELC | Elcom Technology Com | PairCorr |
Related Correlations Analysis
| 0.63 | 0.31 | 0.75 | 0.84 | 0.9 | 0.81 | CSV | ||
| 0.63 | 0.05 | 0.42 | 0.62 | 0.39 | 0.73 | ICT | ||
| 0.31 | 0.05 | 0.09 | 0.54 | 0.34 | 0.3 | FMC | ||
| 0.75 | 0.42 | 0.09 | 0.61 | 0.76 | 0.5 | JVC | ||
| 0.84 | 0.62 | 0.54 | 0.61 | 0.82 | 0.84 | FPT | ||
| 0.9 | 0.39 | 0.34 | 0.76 | 0.82 | 0.69 | ABS | ||
| 0.81 | 0.73 | 0.3 | 0.5 | 0.84 | 0.69 | ELC | ||
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Risk-Adjusted Indicators
There is a big difference between Construction Stock performing well and Construction JSC 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 Construction JSC'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CSV | 1.76 | 0.28 | 0.16 | 0.96 | 1.45 | 5.75 | 10.90 | |||
| ICT | 1.61 | 0.24 | 0.10 | 0.53 | 1.76 | 4.28 | 12.72 | |||
| FMC | 0.67 | (0.02) | 0.00 | (0.05) | 0.00 | 1.50 | 4.42 | |||
| JVC | 1.05 | 0.22 | 0.14 | (0.63) | 0.90 | 3.54 | 9.46 | |||
| FPT | 0.94 | 0.17 | 0.12 | 0.50 | 0.96 | 2.74 | 7.64 | |||
| ABS | 1.58 | 0.24 | 0.11 | (1.03) | 1.69 | 5.10 | 12.04 | |||
| ELC | 1.06 | 0.14 | 0.07 | 0.58 | 1.52 | 2.66 | 7.38 |
Construction JSC Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Construction JSC stock to make a market-neutral strategy. Peer analysis of Construction JSC could also be used in its relative valuation, which is a method of valuing Construction JSC by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |