Frontken Bhd Correlations

0128 Stock

3.78 0.11 3.00%

The current 90-days correlation between Frontken Bhd and Malayan Banking Bhd is 0.18 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Frontken Bhd moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Frontken Bhd moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Frontken Bhd Correlation With Market

Average diversification

The correlation between Frontken Bhd and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Frontken Bhd and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Frontken Stock

0.88	5183	Petronas Chemicals	Pair Corr
0.65	5347	Tenaga Nasional Bhd	Pair Corr

Moving against Frontken Stock

0.84	1155	Malayan Banking Bhd	Pair Corr
0.49	8869	Press Metal Bhd	Pair Corr
0.48	5819	Hong Leong Bank	Pair Corr

Related Correlations Analysis

	1155	1295	5183	5347	5225	5819	8869	6033	3816
1155		0.27	-0.88	-0.44	0.43	0.71	0.69	-0.3	-0.37	1155
1295	0.27		-0.29	0.17	0.12	0.56	0.13	-0.03	0.25	1295
5183	-0.88	-0.29		0.56	-0.26	-0.64	-0.55	0.29	0.48	5183
5347	-0.44	0.17	0.56		0.17	-0.11	-0.29	0.62	0.64	5347
5225	0.43	0.12	-0.26	0.17		0.58	0.39	0.24	0.21	5225
5819	0.71	0.56	-0.64	-0.11	0.58		0.49	0.03	0.06	5819
8869	0.69	0.13	-0.55	-0.29	0.39	0.49		-0.29	-0.13	8869
6033	-0.3	-0.03	0.29	0.62	0.24	0.03	-0.29		0.56	6033
3816	-0.37	0.25	0.48	0.64	0.21	0.06	-0.13	0.56		3816
	1155	1295	5183	5347	5225	5819	8869	6033	3816

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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

5819	+ 0.71	1155
8869	+ 0.69	1155
3816	+ 0.64	5347
6033	+ 0.62	5347
5819	+ 0.58	5225
5819	+ 0.56	1295

High negative correlations

5183	- 0.88	1155
5819	- 0.64	5183
8869	- 0.55	5183
5347	- 0.44	1155
3816	- 0.37	1155
6033	- 0.3	1155

Risk-Adjusted Indicators

There is a big difference between Frontken Stock performing well and Frontken Bhd 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 Frontken Bhd'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
1155	0.54	0.05	0.20	10.34	0.48	(0.78)	1.38	(0.91)	3.14
1295	0.78	(0.01)	0.00	(0.62)	0.00	0.00	1.90	(1.36)	4.15
5183	1.74	(0.43)	0.00	1.58	0.00	0.00	2.72	(4.92)	21.72
5347	0.98	(0.04)	0.00	0.35	0.00	0.00	2.03	(2.33)	6.93
5225	0.57	(0.09)	0.00	6.72	0.00	0.00	0.83	(1.40)	3.92
5819	0.55	0.01	0.10	0.78	0.72	(0.58)	1.30	(1.20)	4.50
8869	1.19	0.05	0.06	0.21	1.49	(1.32)	3.11	(2.58)	8.84
6033	0.71	(0.01)	0.07	(0.02)	0.96	(0.74)	1.81	(1.71)	5.00
3816	0.86	(0.02)	0.00	(0.18)	0.00	0.00	1.84	(2.16)	5.82

Frontken Bhd 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 Frontken Bhd stock to make a market-neutral strategy. Peer analysis of Frontken Bhd could also be used in its relative valuation, which is a method of valuing Frontken Bhd by comparing valuation metrics with similar companies.

Malayan Banking Bhd Public Bank Bhd Petronas Chemicals Group Tenaga Nasional Bhd IHH Healthcare Bhd Hong Leong Bank Press Metal Bhd Petronas Gas Bhd MISC Bhd American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

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