JAKS Resources Correlations

4723 Stock

0.10 0.01 5.26%

The current 90-days correlation between JAKS Resources Bhd and Sungei Bagan Rubber is -0.09 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as JAKS Resources moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if JAKS Resources Bhd moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

JAKS Resources Correlation With Market

Significant diversification

The correlation between JAKS Resources Bhd and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding JAKS Resources Bhd and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with JAKS Stock

0.75	4022	Tadmax Resources Berhad	Pair Corr
0.67	8311	Pesona Metro Holdings	Pair Corr
0.68	5169	Ho Hup Construction	Pair Corr
0.76	5070	Protasco Bhd	Pair Corr
0.82	5183	Petronas Chemicals	Pair Corr

Moving against JAKS Stock

0.74	1155	Malayan Banking Bhd	Pair Corr
0.66	5819	Hong Leong Bank	Pair Corr
0.51	1295	Public Bank Bhd	Pair Corr
0.39	8869	Press Metal Bhd	Pair Corr
0.37	8052	Central Industrial Corp	Pair Corr

Related Correlations Analysis

	5284	0287	2569	2488	8338	0190	5258
5284		-0.8	-0.73	-0.4	0.5	0.37	-0.58	5284
0287	-0.8		0.89	0.65	-0.37	-0.23	0.52	0287
2569	-0.73	0.89		0.77	-0.39	-0.06	0.35	2569
2488	-0.4	0.65	0.77		-0.14	0.04	0.03	2488
8338	0.5	-0.37	-0.39	-0.14		0.15	-0.25	8338
0190	0.37	-0.23	-0.06	0.04	0.15		-0.22	0190
5258	-0.58	0.52	0.35	0.03	-0.25	-0.22		5258
	5284	0287	2569	2488	8338	0190	5258

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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

2569	+ 0.89	0287
2488	+ 0.77	2569
2488	+ 0.65	0287
5258	+ 0.52	0287
8338	+ 0.5	5284
0190	+ 0.37	5284

High negative correlations

0287	- 0.8	5284
2569	- 0.73	5284
5258	- 0.58	5284
2488	- 0.4	5284
8338	- 0.39	2569
8338	- 0.37	0287

Risk-Adjusted Indicators

There is a big difference between JAKS Stock performing well and JAKS Resources 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 JAKS Resources' 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
5284	2.54	(0.60)	0.00	9.53	0.00	0.00	6.67	(6.67)	19.96
0287	1.27	0.13	0.06	(9.99)	1.38	(3.14)	2.94	(2.86)	10.68
2569	0.71	0.10	0.15	(17.97)	0.71	(0.93)	1.75	(1.67)	3.90
2488	1.01	(0.06)	0.00	1.72	0.00	0.00	2.46	(1.37)	7.22
8338	1.94	(0.08)	0.00	0.06	0.00	0.00	7.69	(7.14)	14.84
0190	1.94	(0.14)	0.00	(0.72)	0.00	0.00	7.14	(6.67)	19.17
5258	0.63	0.01	0.04	0.08	0.86	(0.82)	1.24	(1.61)	5.60

Be your own money manager

Our tools can tell you how much better you can do entering a position in JAKS Resources 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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