Twenty Four Correlations
| 24CS Stock | 3.26 0.34 11.64% |
The current 90-days correlation between Twenty Four Con and Akkhie Prakarn Public is 0.15 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Twenty Four moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Twenty Four Con Supply moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Twenty Four Correlation With Market
Significant diversification
The correlation between Twenty Four Con Supply and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Twenty Four Con Supply and DJI in the same portfolio, assuming nothing else is changed.
Twenty |
The ability to find closely correlated positions to Twenty Four could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Twenty Four 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 Twenty Four - 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 Twenty Four Con Supply to buy it.
Moving together with Twenty Stock
| 0.96 | SCC | Siam Cement | PairCorr |
| 0.82 | PTT-R | PTT Public | PairCorr |
| 0.82 | PTT | PTT Public | PairCorr |
| 0.81 | PTTEP | PTT Exploration | PairCorr |
| 0.8 | SCC-R | Siam Cement | PairCorr |
Moving against Twenty Stock
| 0.77 | GULF-R | GULF ENERGY DEVELOPMENT | PairCorr |
| 0.68 | ADVANC | Advanced Info Service | PairCorr |
| 0.67 | IVL | Indorama Ventures PCL | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between Twenty Stock performing well and Twenty Four 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 Twenty Four'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| AKP | 2.28 | (0.74) | 0.00 | (4.61) | 0.00 | 3.30 | 19.93 | |||
| APCO | 0.81 | (0.19) | 0.00 | (0.68) | 0.00 | 1.22 | 9.74 | |||
| ACE | 0.92 | (0.12) | 0.00 | 0.54 | 0.00 | 2.34 | 8.37 | |||
| SABUY | 4.09 | (0.47) | 0.00 | (0.53) | 0.00 | 6.98 | 40.77 | |||
| ANAN | 1.48 | (0.41) | 0.00 | (6.30) | 0.00 | 2.99 | 10.41 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Twenty Four 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?
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