Ancom Berhad Correlations
| 4758 Stock | 0.96 0.01 1.03% |
The current 90-days correlation between Ancom Berhad and Magni Tech Industries is 0.09 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Ancom Berhad moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Ancom Berhad moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Ancom Berhad Correlation With Market
Significant diversification
The correlation between Ancom Berhad and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ancom Berhad and DJI in the same portfolio, assuming nothing else is changed.
Ancom |
The ability to find closely correlated positions to Ancom Berhad could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Ancom Berhad 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 Ancom Berhad - 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 Ancom Berhad to buy it.
Moving together with Ancom Stock
| 0.69 | 5347 | Tenaga Nasional Bhd | PairCorr |
| 0.8 | 6888 | Axiata Group Bhd | PairCorr |
| 0.75 | 5168 | Hartalega Holdings Bhd | PairCorr |
Related Correlations Analysis
| 0.41 | 0.63 | 0.59 | 0.04 | 9148 | ||
| 0.41 | 0.65 | 0.58 | 0.14 | 7087 | ||
| 0.63 | 0.65 | 0.76 | 0.24 | 0111 | ||
| 0.59 | 0.58 | 0.76 | 0.59 | 5797 | ||
| 0.04 | 0.14 | 0.24 | 0.59 | 1562 | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between Ancom Stock performing well and Ancom Berhad 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 Ancom Berhad'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 9148 | 0.71 | (0.03) | 0.00 | (0.15) | 0.00 | 3.17 | 9.76 | |||
| 7087 | 1.15 | (0.25) | 0.00 | (0.97) | 0.00 | 1.76 | 10.51 | |||
| 0111 | 2.71 | (0.31) | 0.00 | 1.58 | 0.00 | 7.69 | 23.61 | |||
| 5797 | 0.86 | (0.20) | 0.00 | (1.79) | 0.00 | 1.49 | 10.26 | |||
| 1562 | 0.78 | (0.04) | 0.00 | (0.16) | 0.00 | 1.37 | 8.42 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Ancom Berhad 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 Fundamentals Comparison Now
Fundamentals ComparisonCompare fundamentals across multiple equities to find investing opportunities |
| All Next | Launch Module |