United Plantations Correlations

2089 Stock

31.34 0.74 2.42%

The current 90-days correlation between United Plantations Bhd and Cloudpoint Technology Berhad is 0.16 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as United Plantations moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if United Plantations Bhd moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

United Plantations Correlation With Market

Good diversification

The correlation between United Plantations Bhd and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding United Plantations Bhd and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with United Stock

0.89	5162	ECS ICT Bhd	Pair Corr
0.76	0104	Genetec Technology Bhd	Pair Corr
0.66	1066	RHB Bank Bhd	Pair Corr
0.68	0075	Lyc Healthcare Bhd	Pair Corr
0.73	3255	Heineken Bhd	Pair Corr
0.93	5168	Hartalega Holdings Bhd	Pair Corr
0.88	5292	Uwc Bhd	Pair Corr

Moving against United Stock

0.92	1155	Malayan Banking Bhd	Pair Corr
0.86	5183	Petronas Chemicals	Pair Corr
0.66	5347	Tenaga Nasional Bhd	Pair Corr
0.58	3816	MISC Bhd	Pair Corr
0.54	5819	Hong Leong Bank	Pair Corr

Related Correlations Analysis

	0277	6971	7087	0261	0251	0250	4162	0167
0277		0.64	0.48	0.65	0.65	-0.78	-0.04	0.55	0277
6971	0.64		0.44	0.61	0.74	-0.43	0.11	0.8	6971
7087	0.48	0.44		0.09	0.6	-0.6	0.17	0.2	7087
0261	0.65	0.61	0.09		0.5	-0.44	-0.31	0.66	0261
0251	0.65	0.74	0.6	0.5		-0.75	0.22	0.47	0251
0250	-0.78	-0.43	-0.6	-0.44	-0.75		-0.21	-0.28	0250
4162	-0.04	0.11	0.17	-0.31	0.22	-0.21		0.03	4162
0167	0.55	0.8	0.2	0.66	0.47	-0.28	0.03		0167
	0277	6971	7087	0261	0251	0250	4162	0167

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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

0167	+ 0.8	6971
0251	+ 0.74	6971
0167	+ 0.66	0261
0261	+ 0.65	0277
0251	+ 0.65	0277
6971	+ 0.64	0277

High negative correlations

0250	- 0.78	0277
0250	- 0.75	0251
0250	- 0.6	7087
0250	- 0.44	0261
0250	- 0.43	6971
4162	- 0.31	0261

Risk-Adjusted Indicators

There is a big difference between United Stock performing well and United Plantations 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 United Plantations' 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
0277	1.96	0.29	0.12	0.31	1.80	(2.92)	4.88	(3.53)	12.50
6971	2.31	0.09	0.04	0.10	2.16	(3.17)	5.71	(3.73)	16.76
7087	0.96	(0.01)	(0.01)	0.01	1.91	(1.24)	2.08	(1.64)	15.17
0261	1.33	0.21	0.05	(0.68)	1.61	(2.96)	2.78	(2.70)	13.25
0251	1.71	0.21	0.09	0.26	1.64	(2.33)	3.28	(3.17)	10.95
0250	1.19	(0.24)	0.00	(0.30)	0.00	0.00	3.85	(3.85)	8.17
4162	0.87	(0.01)	(0.02)	(0.02)	1.05	(1.15)	1.64	(1.81)	15.42
0167	3.07	0.17	0.04	0.22	2.84	(7.44)	8.33	(4.17)	20.95

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

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