BP Plastics Correlations
| 5100 Stock | 1.15 0.01 0.86% |
The current 90-days correlation between BP Plastics Holding and Melewar Industrial Group is -0.15 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as BP Plastics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if BP Plastics Holding moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
BP Plastics Correlation With Market
Average diversification
The correlation between BP Plastics Holding and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BP Plastics Holding and DJI in the same portfolio, assuming nothing else is changed.
5100 |
The ability to find closely correlated positions to BP Plastics could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BP Plastics 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 BP Plastics - 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 BP Plastics Holding to buy it.
Moving together with 5100 Stock
| 0.71 | 4731 | Scientex Bhd | PairCorr |
| 0.71 | 8125 | Scientex Packaging | PairCorr |
| 0.7 | 7114 | Dnonce Tech Bhd | PairCorr |
| 0.64 | 5347 | Tenaga Nasional Bhd | PairCorr |
| 0.71 | 6888 | Axiata Group Bhd | PairCorr |
| 0.83 | 5183 | Petronas Chemicals | PairCorr |
| 0.74 | 5168 | Hartalega Holdings Bhd | PairCorr |
Moving against 5100 Stock
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between 5100 Stock performing well and BP Plastics 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 BP Plastics' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 3778 | 1.83 | (0.31) | 0.00 | (1.48) | 0.00 | 5.00 | 11.44 | |||
| 0250 | 1.24 | (0.06) | 0.00 | (0.53) | 0.00 | 4.35 | 8.89 | |||
| 7811 | 0.84 | (0.03) | 0.00 | 3.28 | 0.00 | 3.53 | 10.10 | |||
| 0133 | 2.54 | (0.33) | 0.00 | (0.21) | 0.00 | 9.09 | 18.18 | |||
| 1562 | 0.77 | (0.07) | 0.00 | (0.13) | 0.00 | 1.45 | 8.42 | |||
| 9881 | 1.84 | (0.17) | 0.00 | 3.59 | 0.00 | 7.50 | 22.82 | |||
| 5098 | 1.70 | (0.47) | 0.00 | (1.30) | 0.00 | 4.17 | 11.40 | |||
| 0089 | 1.19 | (0.36) | 0.00 | 1.19 | 0.00 | 2.97 | 6.76 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in BP Plastics 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 Options Analysis Now
Options AnalysisAnalyze and evaluate options and option chains as a potential hedge for your portfolios |
| All Next | Launch Module |