PT Charoen Correlations

0CP1 Stock

EUR 0.26 0.01 4.00%

The current 90-days correlation between PT Charoen Pokphand and MOWI ASA SPADR is -0.04 (i.e., Good diversification). The correlation of PT Charoen is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

PT Charoen Correlation With Market

Average diversification

The correlation between PT Charoen Pokphand and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PT Charoen Pokphand and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against 0CP1 Stock

0.42	RZH	SCOTT TECHNOLOGY	Pair Corr
0.42	SK3	Smurfit Kappa Group	Pair Corr
0.4	LNLB	Li Ning Company	Pair Corr
0.31	PPB	Flutter Entertainment PLC	Pair Corr

Related Correlations Analysis

	ADM	TF7A	RTHA	PNDA	PND	0CP1	JEP	CPOF
ADM		-0.44	0.58	-0.39	-0.41	0.16	0.12	0.4	ADM
TF7A	-0.44		-0.57	0.82	0.88	-0.22	0.55	-0.4	TF7A
RTHA	0.58	-0.57		-0.42	-0.52	0.31	0.06	0.65	RTHA
PNDA	-0.39	0.82	-0.42		0.9	-0.09	0.74	-0.21	PNDA
PND	-0.41	0.88	-0.52	0.9		-0.2	0.66	-0.36	PND
0CP1	0.16	-0.22	0.31	-0.09	-0.2		0.2	0.58	0CP1
JEP	0.12	0.55	0.06	0.74	0.66	0.2		0.24	JEP
CPOF	0.4	-0.4	0.65	-0.21	-0.36	0.58	0.24		CPOF
	ADM	TF7A	RTHA	PNDA	PND	0CP1	JEP	CPOF

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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

PND	+ 0.9	PNDA
PND	+ 0.88	TF7A
PNDA	+ 0.82	TF7A
JEP	+ 0.74	PNDA
JEP	+ 0.66	PND
CPOF	+ 0.65	RTHA

High negative correlations

RTHA	- 0.57	TF7A
PND	- 0.52	RTHA
TF7A	- 0.44	ADM
PNDA	- 0.42	RTHA
PND	- 0.41	ADM
CPOF	- 0.4	TF7A

Risk-Adjusted Indicators

There is a big difference between 0CP1 Stock performing well and PT Charoen 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 PT Charoen'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
ADM	1.05	(0.18)	0.00	(0.86)	0.00	0.00	2.15	(2.16)	10.71
TF7A	1.33	0.07	0.04	0.21	1.27	(1.71)	3.53	(2.01)	6.86
RTHA	1.26	(0.09)	0.00	(0.33)	0.00	0.00	3.07	(3.54)	10.28
PNDA	0.94	0.08	0.04	0.23	1.03	(1.25)	2.37	(1.82)	5.61
PND	1.51	0.23	0.14	1.54	1.31	(1.95)	2.98	(2.38)	15.63
0CP1	1.61	(0.11)	0.00	(0.16)	0.00	0.00	3.85	(3.70)	7.69
JEP	1.40	(0.05)	0.00	(0.10)	0.00	0.00	3.18	(2.95)	8.50
CPOF	1.27	(0.10)	0.00	(0.37)	0.00	0.00	2.94	(3.03)	12.26

Be your own money manager

Our tools can tell you how much better you can do entering a position in PT Charoen 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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