OSK Holdings Correlations

5053 Stock   1.72  0.04  2.27%   
The current 90-days correlation between OSK Holdings Bhd and Uchi Technologies Bhd is 0.04 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as OSK Holdings moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if OSK Holdings Bhd moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

OSK Holdings Correlation With Market

Significant diversification

The correlation between OSK Holdings 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 OSK Holdings Bhd and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to OSK Holdings could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace OSK Holdings 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 OSK Holdings - 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 OSK Holdings Bhd to buy it.

Moving together with OSK Stock

  0.861015 AMMB Holdings BhdPairCorr
  0.840104 Genetec Technology BhdPairCorr
  0.937106 Supermax BhdPairCorr

Moving against OSK Stock

  0.621155 Malayan Banking BhdPairCorr
  0.445819 Hong Leong BankPairCorr
  0.313816 MISC BhdPairCorr

Related Correlations Analysis

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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   
02515286
52867233
52867100
02517233
52197233
52860243
  
High negative correlations   
02515255
52865255
52195255
52557233
52557100
52554162

Risk-Adjusted Indicators

There is a big difference between OSK Stock performing well and OSK Holdings 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 OSK Holdings' 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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in OSK Holdings 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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