Datasonic Group Correlations

5216 Stock

0.27 0.01 3.85%

The current 90-days correlation between Datasonic Group Bhd and Shangri La Hotels is 0.06 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Datasonic Group moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Datasonic Group Bhd moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Datasonic Group Correlation With Market

Good diversification

The correlation between Datasonic Group Bhd and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Datasonic Group Bhd and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Datasonic Stock

0.64	4456	Dagang Nexchange Bhd	Pair Corr
0.66	5204	Awanbiru Technology Bhd	Pair Corr
0.8	0050	Systech Bhd	Pair Corr
0.81	0131	Diversified Gateway	Pair Corr
0.79	0123	Privasia Technology Bhd	Pair Corr
0.95	2836	Carlsberg Brewery	Pair Corr
0.76	5296	Mr D I	Pair Corr
0.95	0208	Greatech Technology Bhd	Pair Corr
0.75	7251	Barakah Offshore Pet	Pair Corr
0.98	0251	SFP Tech Holdings	Pair Corr
0.67	0097	ViTrox Bhd	Pair Corr

Moving against Datasonic Stock

0.64

3255

Heineken Bhd

Pair Corr

Related Correlations Analysis

	03041	5517	7090	5259	0111	7692	0148	0277
03041		0.0	0.0	0.0	0.0	0.0	0.0	0.0	03041
5517	0.0		0.94	0.68	0.8	0.54	0.79	0.84	5517
7090	0.0	0.94		0.63	0.74	0.41	0.82	0.75	7090
5259	0.0	0.68	0.63		0.31	0.1	0.48	0.69	5259
0111	0.0	0.8	0.74	0.31		0.72	0.77	0.7	0111
7692	0.0	0.54	0.41	0.1	0.72		0.49	0.46	7692
0148	0.0	0.79	0.82	0.48	0.77	0.49		0.72	0148
0277	0.0	0.84	0.75	0.69	0.7	0.46	0.72		0277
	03041	5517	7090	5259	0111	7692	0148	0277

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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

7090	+ 0.94	5517
0277	+ 0.84	5517
0148	+ 0.82	7090
0111	+ 0.8	5517
0148	+ 0.79	5517
0148	+ 0.77	0111

High negative correlations

0277	- 0.0	03041
0148	- 0.0	03041
7692	- 0.0	03041
0111	- 0.0	03041
5259	- 0.0	03041
7090	- 0.0	03041

Risk-Adjusted Indicators

There is a big difference between Datasonic Stock performing well and Datasonic Group 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 Datasonic Group'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
03041	0.00	0.00	0.00	0.00	0.00	0.00
5517	0.86	(0.21)	3.10	1.49	(2.43)	5.46
7090	0.98	(0.28)	(1.61)	1.99	(2.44)	5.39
5259	2.17	(0.07)	(0.06)	3.57	(3.45)	17.56
0111	2.71	(0.30)	1.66	7.69	(6.67)	23.61
7692	1.80	(0.08)	0.07	5.26	(5.13)	23.33
0148	1.30	(0.14)	0.46	3.33	(3.23)	9.90
0277	2.18	(0.16)	(0.29)	4.11	(4.60)	20.63

Be your own money manager

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