Carlsberg Brewery Correlations
| 2836 Stock | 19.10 0.10 0.53% |
The current 90-days correlation between Carlsberg Brewery and Apex Healthcare Bhd is 0.28 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Carlsberg Brewery moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Carlsberg Brewery Malaysia moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Carlsberg Brewery Correlation With Market
Significant diversification
The correlation between Carlsberg Brewery Malaysia and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Carlsberg Brewery Malaysia and DJI in the same portfolio, assuming nothing else is changed.
Carlsberg |
The ability to find closely correlated positions to Carlsberg Brewery could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Carlsberg Brewery 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 Carlsberg Brewery - 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 Carlsberg Brewery Malaysia to buy it.
Moving together with Carlsberg Stock
Moving against Carlsberg Stock
| 0.84 | 1066 | RHB Bank Bhd | PairCorr |
| 0.79 | 1155 | Malayan Banking Bhd | PairCorr |
| 0.68 | 3255 | Heineken Bhd | PairCorr |
| 0.6 | 1295 | Public Bank Bhd | PairCorr |
| 0.55 | 5819 | Hong Leong Bank | PairCorr |
Related Correlations Analysis
| 0.87 | 0.9 | -0.85 | 0.74 | 0.28 | 5797 | ||
| 0.87 | 0.91 | -0.75 | 0.77 | 0.5 | 7090 | ||
| 0.9 | 0.91 | -0.84 | 0.84 | 0.24 | 0201 | ||
| -0.85 | -0.75 | -0.84 | -0.75 | -0.1 | 5878 | ||
| 0.74 | 0.77 | 0.84 | -0.75 | 0.34 | 0133 | ||
| 0.28 | 0.5 | 0.24 | -0.1 | 0.34 | 5225 | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Carlsberg Stock performing well and Carlsberg Brewery 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 Carlsberg Brewery'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 5797 | 0.95 | (0.25) | 0.00 | (1.31) | 0.00 | 1.67 | 10.26 | |||
| 7090 | 1.01 | (0.26) | 0.00 | (1.60) | 0.00 | 1.99 | 5.39 | |||
| 0201 | 1.59 | (0.53) | 0.00 | (0.63) | 0.00 | 2.33 | 16.06 | |||
| 5878 | 1.60 | 0.17 | 0.08 | (1.51) | 2.07 | 3.38 | 17.62 | |||
| 0133 | 2.31 | (0.15) | 0.00 | (0.22) | 0.00 | 8.33 | 18.18 | |||
| 5225 | 0.60 | (0.06) | 0.00 | (1.77) | 0.00 | 0.98 | 6.48 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Carlsberg Brewery 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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