Hartalega Holdings Correlations

5168 Stock

1.91 0.04 2.05%

The current 90-days correlation between Hartalega Holdings Bhd and Aeon Credit Service is 0.22 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Hartalega Holdings moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hartalega Holdings Bhd moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Hartalega Holdings Correlation With Market

Significant diversification

The correlation between Hartalega Holdings Bhd and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hartalega Holdings Bhd and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Hartalega 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 Hartalega 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 Hartalega 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 Hartalega Holdings Bhd to buy it.

Moving together with Hartalega Stock

0.9	7113	Top Glove	Pair Corr
0.91	7153	Kossan Rubber Industries	Pair Corr
0.96	7106	Supermax Bhd Split	Pair Corr
0.93	7803	Rubberex M	Pair Corr
0.9	4162	British American Tobacco	Pair Corr
0.9	5284	Lotte Chemical Titan	Pair Corr
0.9	7233	Dufu Tech Corp	Pair Corr
0.83	5797	Choo Bee Metal	Pair Corr
0.79	7090	Apex Healthcare Bhd	Pair Corr

Related Correlations Analysis

	5797	5139	8273	7076	5819	7811	8869
5797		-0.18	0.93	0.6	-0.44	0.66	-0.27	5797
5139	-0.18		-0.06	0.46	-0.23	-0.09	-0.28	5139
8273	0.93	-0.06		0.68	-0.48	0.65	-0.31	8273
7076	0.6	0.46	0.68		-0.46	0.47	-0.62	7076
5819	-0.44	-0.23	-0.48	-0.46		-0.4	0.44	5819
7811	0.66	-0.09	0.65	0.47	-0.4		-0.59	7811
8869	-0.27	-0.28	-0.31	-0.62	0.44	-0.59		8869
	5797	5139	8273	7076	5819	7811	8869

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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

8273	+ 0.93	5797
7076	+ 0.68	8273
7811	+ 0.66	5797
7811	+ 0.65	8273
7076	+ 0.6	5797
7811	+ 0.47	7076

High negative correlations

8869	- 0.62	7076
8869	- 0.59	7811
5819	- 0.48	8273
5819	- 0.46	7076
5819	- 0.44	5797
7811	- 0.4	5819

Risk-Adjusted Indicators

There is a big difference between Hartalega Stock performing well and Hartalega 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 Hartalega 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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
5797	0.95	(0.26)	0.00	(1.75)	0.00	0.00	1.67	(4.11)	10.26
5139	0.98	(0.03)	0.00	(0.16)	0.00	0.00	1.61	(1.84)	7.20
8273	0.97	(0.17)	0.00	9.30	0.00	0.00	2.53	(2.47)	6.59
7076	1.22	(0.20)	0.00	0.75	0.00	0.00	1.79	(2.61)	10.62
5819	0.55	0.01	0.01	(0.28)	0.77	(0.55)	1.19	(1.20)	4.50
7811	0.84	(0.03)	0.00	(0.42)	0.00	0.00	3.53	(4.49)	10.10
8869	1.12	0.08	0.05	0.24	1.40	(1.25)	3.11	(2.31)	8.84

Be your own money manager

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