ECS ICT Correlations

5162 Stock

4.00 0.09 2.30%

The current 90-days correlation between ECS ICT Bhd and Malayan Banking Bhd is 0.02 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ECS ICT moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ECS ICT Bhd moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ECS ICT Correlation With Market

Good diversification

The correlation between ECS ICT Bhd and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ECS ICT Bhd and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with ECS Stock

0.67	0104	Genetec Technology Bhd	Pair Corr
0.77	1066	RHB Bank Bhd	Pair Corr
0.62	0129	Silver Ridge Holdings	Pair Corr
0.7	3255	Heineken Bhd	Pair Corr
0.91	5168	Hartalega Holdings Bhd	Pair Corr
0.88	5292	Uwc Bhd	Pair Corr

Moving against ECS Stock

0.87	1155	Malayan Banking Bhd	Pair Corr
0.8	5183	Petronas Chemicals	Pair Corr
0.73	5347	Tenaga Nasional Bhd	Pair Corr
0.68	3816	MISC Bhd	Pair Corr
0.45	5819	Hong Leong Bank	Pair Corr
0.4	9008	Omesti Bhd	Pair Corr

Related Correlations Analysis

	1155	1295	5183	5347	5225	5819	8869	6033	3816
1155		0.3	0.75	0.82	-0.05	0.52	0.02	0.19	0.67	1155
1295	0.3		0.39	0.21	-0.32	0.37	0.55	0.37	0.46	1295
5183	0.75	0.39		0.54	0.05	0.54	0.48	0.18	0.41	5183
5347	0.82	0.21	0.54		-0.26	0.5	-0.15	0.3	0.68	5347
5225	-0.05	-0.32	0.05	-0.26		-0.06	0.0	-0.5	-0.38	5225
5819	0.52	0.37	0.54	0.5	-0.06		0.31	0.56	0.39	5819
8869	0.02	0.55	0.48	-0.15	0.0	0.31		0.24	0.07	8869
6033	0.19	0.37	0.18	0.3	-0.5	0.56	0.24		0.34	6033
3816	0.67	0.46	0.41	0.68	-0.38	0.39	0.07	0.34		3816
	1155	1295	5183	5347	5225	5819	8869	6033	3816

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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

5347	+ 0.82	1155
5183	+ 0.75	1155
3816	+ 0.68	5347
3816	+ 0.67	1155
6033	+ 0.56	5819
8869	+ 0.55	1295

High negative correlations

6033	- 0.5	5225
3816	- 0.38	5225
5225	- 0.32	1295
5225	- 0.26	5347
8869	- 0.15	5347
5819	- 0.06	5225

Risk-Adjusted Indicators

There is a big difference between ECS Stock performing well and ECS ICT 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 ECS ICT'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
1155	0.54	(0.08)	2.20	0.99	(1.18)	2.66
1295	0.82	(0.06)	1.18	1.79	(1.74)	6.79
5183	1.44	(0.21)	1.70	2.84	(3.45)	10.88
5347	0.85	(0.04)	4.52	2.07	(2.10)	5.63
5225	0.61	(0.02)	0.42	1.27	(1.40)	6.76
5819	0.55	(0.03)	(1.07)	1.06	(1.30)	3.52
8869	1.29	(0.06)	0.12	3.67	(3.38)	10.00
6033	0.40	(0.02)	(0.50)	0.92	(0.93)	2.86
3816	0.80	(0.16)	(0.62)	1.61	(2.03)	6.39

ECS ICT Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with ECS ICT stock to make a market-neutral strategy. Peer analysis of ECS ICT could also be used in its relative valuation, which is a method of valuing ECS ICT by comparing valuation metrics with similar companies.

Malayan Banking Bhd Public Bank Bhd Petronas Chemicals Group Tenaga Nasional Bhd IHH Healthcare Bhd Hong Leong Bank Press Metal Bhd Petronas Gas Bhd MISC Bhd American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

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