Genting Malaysia Correlations

4715 Stock

2.16 0.04 1.89%

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

Genting Malaysia Correlation With Market

Good diversification

The correlation between Genting Malaysia Bhd and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Genting Malaysia Bhd and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Genting Stock

0.61	1155	Malayan Banking Bhd	Pair Corr
0.73	1295	Public Bank Bhd	Pair Corr
0.83	6888	Axiata Group Bhd	Pair Corr
0.66	3816	MISC Bhd	Pair Corr

Moving against Genting Stock

0.88	2488	Alliance Financial	Pair Corr
0.85	1066	RHB Bank Bhd	Pair Corr
0.51	1015	AMMB Holdings Bhd	Pair Corr

Related Correlations Analysis

	5305	8192	3778	6084	5797	1562	7095	4162
5305		-0.29	0.6	0.8	0.47	0.24	-0.27	0.36	5305
8192	-0.29		0.15	-0.19	0.33	0.58	-0.5	-0.23	8192
3778	0.6	0.15		0.63	0.69	0.62	-0.55	0.08	3778
6084	0.8	-0.19	0.63		0.52	0.24	-0.35	0.44	6084
5797	0.47	0.33	0.69	0.52		0.66	-0.79	0.05	5797
1562	0.24	0.58	0.62	0.24	0.66		-0.6	0.11	1562
7095	-0.27	-0.5	-0.55	-0.35	-0.79	-0.6		0.06	7095
4162	0.36	-0.23	0.08	0.44	0.05	0.11	0.06		4162
	5305	8192	3778	6084	5797	1562	7095	4162

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

6084	+ 0.8	5305
5797	+ 0.69	3778
1562	+ 0.66	5797
6084	+ 0.63	3778
1562	+ 0.62	3778
3778	+ 0.6	5305

High negative correlations

7095	- 0.79	5797
7095	- 0.6	1562
7095	- 0.55	3778
7095	- 0.5	8192
7095	- 0.35	6084
8192	- 0.29	5305

Risk-Adjusted Indicators

There is a big difference between Genting Stock performing well and Genting Malaysia 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 Genting Malaysia'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
5305	1.35	(0.25)	0.00	(0.22)	0.00	0.00	4.17	(4.00)	8.17
8192	1.41	(0.03)	0.00	13.79	0.00	0.00	5.10	(3.88)	12.00
3778	1.38	(0.23)	0.00	10.25	0.00	0.00	4.17	(4.17)	8.51
6084	1.36	(0.24)	0.00	(0.65)	0.00	0.00	2.50	(2.44)	9.41
5797	1.32	(0.17)	0.00	0.64	0.00	0.00	2.90	(4.76)	14.55
1562	0.79	(0.12)	0.00	0.92	0.00	0.00	1.38	(1.91)	7.07
7095	1.43	0.12	0.02	0.43	1.65	(1.75)	2.94	(2.80)	9.39
4162	1.00	0.05	(0.11)	0.01	1.11	(1.44)	2.16	(2.02)	15.42

Be your own money manager

Our tools can tell you how much better you can do entering a position in Genting Malaysia 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 Cryptocurrency Center Now

Cryptocurrency Center

Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency

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