Brite Tech Correlations

0011 Stock

0.29 0.01 3.57%

The current 90-days correlation between Brite Tech Bhd and Tex Cycle Technology is 0.2 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Brite Tech moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Brite Tech Bhd moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Brite Tech Correlation With Market

Modest diversification

The correlation between Brite Tech Bhd and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Brite Tech Bhd and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Brite Stock

0.65	8044	Computer Forms Bhd	Pair Corr
0.79	0089	Tex Cycle Technology	Pair Corr
0.66	5347	Tenaga Nasional Bhd	Pair Corr
0.71	6888	Axiata Group Bhd	Pair Corr

Moving against Brite Stock

0.83	1155	Malayan Banking Bhd	Pair Corr
0.74	2488	Alliance Financial	Pair Corr
0.67	1015	AMMB Holdings Bhd	Pair Corr
0.54	1066	RHB Bank Bhd	Pair Corr
0.46	5819	Hong Leong Bank	Pair Corr

Related Correlations Analysis

	0089	6971	5225	0195	5302	0283	7148	6084
0089		0.85	-0.15	0.76	0.76	0.68	0.47	0.21	0089
6971	0.85		-0.22	0.81	0.91	0.81	0.64	0.35	6971
5225	-0.15	-0.22		0.02	-0.18	-0.37	-0.02	-0.39	5225
0195	0.76	0.81	0.02		0.69	0.67	0.69	0.26	0195
5302	0.76	0.91	-0.18	0.69		0.71	0.61	0.2	5302
0283	0.68	0.81	-0.37	0.67	0.71		0.58	0.54	0283
7148	0.47	0.64	-0.02	0.69	0.61	0.58		0.36	7148
6084	0.21	0.35	-0.39	0.26	0.2	0.54	0.36		6084
	0089	6971	5225	0195	5302	0283	7148	6084

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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

5302	+ 0.91	6971
6971	+ 0.85	0089
0195	+ 0.81	6971
0283	+ 0.81	6971
0195	+ 0.76	0089
5302	+ 0.76	0089

High negative correlations

6084	- 0.39	5225
0283	- 0.37	5225
5225	- 0.22	6971
5302	- 0.18	5225
5225	- 0.15	0089
7148	- 0.02	5225

Risk-Adjusted Indicators

There is a big difference between Brite Stock performing well and Brite Tech 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 Brite Tech'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
0089	0.89	(0.15)	0.00	(0.52)	0.00	0.00	2.83	(1.90)	6.76
6971	1.97	(0.19)	0.00	(0.83)	0.00	0.00	4.24	(5.10)	11.22
5225	0.59	(0.06)	0.00	8.50	0.00	0.00	0.97	(1.40)	6.56
0195	1.87	(0.38)	0.00	2.96	0.00	0.00	5.88	(5.88)	12.92
5302	1.48	(0.13)	0.00	(1.71)	0.00	0.00	3.09	(4.40)	9.82
0283	1.94	0.10	0.02	0.08	2.54	(7.16)	6.25	(6.25)	14.36
7148	1.09	(0.02)	0.00	(0.18)	0.00	0.00	2.52	(2.44)	7.33
6084	1.23	0.16	0.09	0.92	1.19	(3.07)	2.63	(2.50)	7.69

Be your own money manager

Our tools can tell you how much better you can do entering a position in Brite Tech 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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