ECM Libra Correlations

Stocks . Malaysia . 
Stock . ECM Libra Financial
2143 Stock   0.20  0.00  0.00%   
The current 90-days correlation between ECM Libra Financial and Lysaght Galvanized Steel is -0.08 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ECM Libra moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ECM Libra Financial moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ECM Libra Correlation With Market

Average diversification

The correlation between ECM Libra Financial and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ECM Libra Financial and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to ECM Libra could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ECM Libra 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 ECM Libra - 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 ECM Libra Financial to buy it.

Moving against ECM Stock

  0.496888 Axiata Group BhdPairCorr
  0.444715 Genting Malaysia BhdPairCorr
  0.435517 Shangri La HotelsPairCorr
  0.375168 Hartalega Holdings BhdPairCorr
  0.324863 Telekom Malaysia BhdPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
5305
+ 0.85
9199
0133
+ 0.81
9199
0133
+ 0.78
5305
5305
+ 0.72
7100
5149
+ 0.72
7100
0133
+ 0.64
7100
  
High negative correlations   
6084
- 0.28
7100
5149
- 0.17
5094

Risk-Adjusted Indicators

There is a big difference between ECM Stock performing well and ECM Libra 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 ECM Libra'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 ECM Libra 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.

Did you try this?

Run Headlines Timeline Now

   

Headlines Timeline

Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity
All  Next Launch Module
Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY