M N Correlations

0103 Stock   0.08  0.01  5.88%   
The current 90-days correlation between M N C and Nexgram Holdings Bhd is 0.18 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as M N moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if M N C moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

M N Correlation With Market

0103DowDiversified Away0103DowDiversified Away100%

Good diversification

The correlation between M N C and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding M N C and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to M N could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace M N 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 M N - 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 M N C to buy it.

Moving together with 0103 Stock

  0.790261 Cosmos TechnologyPairCorr
  0.620277 Cloudpoint TechnologyPairCorr
  0.715322 Feytech Holdings BerhadPairCorr
  0.795053 OSK Holdings BhdPairCorr
  0.755286 MI Technovation BhdPairCorr
  0.750050 Systech BhdPairCorr
  0.87113 Top GlovePairCorr
  0.810126 Microlink Solutions BhdPairCorr
  0.616432 Apollo Food HoldingsPairCorr
  0.736971 Kobay Tech BhdPairCorr
  0.660167 MClean Technologies BhdPairCorr

Moving against 0103 Stock

  0.394162 British American TobaccoPairCorr
  0.558621 LPI Capital BhdPairCorr
  0.442569 Sungei Bagan RubberPairCorr
  0.41155 Malayan Banking BhdPairCorr
  0.385255 Icon Offshore BhdPairCorr

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   
01040165
01040277
02770165
71135286
80520104
01045286
  
High negative correlations   
01590104
01590165
01590277
01598052
71130096
01590096

Risk-Adjusted Indicators

There is a big difference between 0103 Stock performing well and M N 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 M N'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 M N 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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