Asian Pac Correlations

4057 Stock

0.10 0.01 5.26%

The current 90-days correlation between Asian Pac Holdings and OSK Holdings Bhd is 0.19 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Asian Pac moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Asian Pac Holdings moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Asian Pac Correlation With Market

Modest diversification

The correlation between Asian Pac Holdings and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Asian Pac Holdings and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Asian Stock

0.73	4707	Nestle Bhd	Pair Corr
0.63	0092	mTouche Technology Bhd	Pair Corr
0.67	7090	Apex Healthcare Bhd	Pair Corr

Moving against Asian Stock

0.79	1066	RHB Bank Bhd	Pair Corr
0.48	0132	TechnoDex Bhd	Pair Corr
0.43	8621	LPI Capital Bhd	Pair Corr

Related Correlations Analysis

	5053	4057	1066	5162	0129	5168	9008	3255	0083	4456
5053		-0.1	0.39	0.55	-0.09	0.7	0.2	0.53	0.64	0.57	5053
4057	-0.1		-0.79	-0.67	-0.83	-0.59	0.78	-0.4	-0.39	0.18	4057
1066	0.39	-0.79		0.8	0.72	0.75	-0.69	0.56	0.6	-0.04	1066
5162	0.55	-0.67	0.8		0.61	0.91	-0.39	0.67	0.81	0.07	5162
0129	-0.09	-0.83	0.72	0.61		0.45	-0.77	0.43	0.35	-0.29	0129
5168	0.7	-0.59	0.75	0.91	0.45		-0.3	0.64	0.87	0.29	5168
9008	0.2	0.78	-0.69	-0.39	-0.77	-0.3		-0.27	-0.17	0.4	9008
3255	0.53	-0.4	0.56	0.67	0.43	0.64	-0.27		0.61	0.18	3255
0083	0.64	-0.39	0.6	0.81	0.35	0.87	-0.17	0.61		0.19	0083
4456	0.57	0.18	-0.04	0.07	-0.29	0.29	0.4	0.18	0.19		4456
	5053	4057	1066	5162	0129	5168	9008	3255	0083	4456

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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

5168	+ 0.91	5162
0083	+ 0.87	5168
0083	+ 0.81	5162
5162	+ 0.8	1066
9008	+ 0.78	4057
5168	+ 0.75	1066

High negative correlations

0129	- 0.83	4057
1066	- 0.79	4057
9008	- 0.77	0129
9008	- 0.69	1066
5162	- 0.67	4057
5168	- 0.59	4057

Risk-Adjusted Indicators

There is a big difference between Asian Stock performing well and Asian Pac 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 Asian Pac'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
5053	1.00	0.15	0.09	1.01	1.03	(1.26)	2.52	(1.85)	7.89
4057	1.47	(0.13)	0.00	(0.13)	0.00	0.00	5.56	(5.26)	19.09
1066	0.71	0.01	(0.01)	0.10	1.00	(0.71)	1.35	(1.62)	5.98
5162	1.80	0.36	0.15	(1.15)	1.72	(2.16)	3.88	(3.26)	13.61
0129	2.28	0.33	0.04	2.52	5.02	(2.49)	4.17	(4.55)	29.10
5168	1.74	0.45	0.15	(1.06)	2.18	(1.98)	4.14	(2.89)	13.51
9008	5.21	0.56	0.05	(4.88)	5.51	(12.02)	14.29	(10.53)	59.87
3255	0.94	0.10	0.06	(4.85)	1.13	(1.10)	2.50	(1.50)	10.35
0083	2.96	0.26	0.07	3.06	2.97	(4.52)	8.11	(5.22)	30.28
4456	1.59	0.12	0.03	(0.27)	1.50	(4.49)	2.86	(2.78)	14.62

Be your own money manager

Our tools can tell you how much better you can do entering a position in Asian Pac 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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