Senheng New Correlations

5305 Stock

0.20 0.01 4.76%

The current 90-days correlation between Senheng New Retail and Berjaya Food Bhd is 0.11 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Senheng New moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Senheng New Retail moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Senheng New Correlation With Market

Good diversification

The correlation between Senheng New Retail and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Senheng New Retail and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Senheng Stock

0.92	5296	Mr D I	Pair Corr
0.71	0202	Radiant Globaltech Bhd	Pair Corr
0.93	4162	British American Tobacco	Pair Corr
0.9	5284	Lotte Chemical Titan	Pair Corr
0.95	7233	Dufu Tech Corp	Pair Corr
0.91	4707	Nestle Bhd	Pair Corr
0.9	5797	Choo Bee Metal	Pair Corr
0.85	7090	Apex Healthcare Bhd	Pair Corr

Moving against Senheng Stock

0.75

8621

LPI Capital Bhd

Pair Corr

Related Correlations Analysis

	8869	5305	5196	0075	6432	5225	5517	5183
8869		-0.42	-0.04	-0.48	0.39	0.32	-0.27	-0.56	8869
5305	-0.42		0.65	0.89	-0.63	-0.05	0.88	0.88	5305
5196	-0.04	0.65		0.7	-0.28	0.01	0.67	0.58	5196
0075	-0.48	0.89	0.7		-0.52	-0.01	0.83	0.93	0075
6432	0.39	-0.63	-0.28	-0.52		0.26	-0.41	-0.64	6432
5225	0.32	-0.05	0.01	-0.01	0.26		0.16	-0.13	5225
5517	-0.27	0.88	0.67	0.83	-0.41	0.16		0.72	5517
5183	-0.56	0.88	0.58	0.93	-0.64	-0.13	0.72		5183
	8869	5305	5196	0075	6432	5225	5517	5183

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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

5183	+ 0.93	0075
0075	+ 0.89	5305
5517	+ 0.88	5305
5183	+ 0.88	5305
5517	+ 0.83	0075
5183	+ 0.72	5517

High negative correlations

5183	- 0.64	6432
6432	- 0.63	5305
5183	- 0.56	8869
6432	- 0.52	0075
0075	- 0.48	8869
5305	- 0.42	8869

Risk-Adjusted Indicators

There is a big difference between Senheng Stock performing well and Senheng New 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 Senheng New'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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
8869	1.17	0.00	0.02	(0.01)	1.49	(1.29)	3.11	(2.58)	8.84
5305	2.90	(0.30)	0.00	0.51	0.00	0.00	5.00	(4.76)	16.39
5196	1.99	(0.18)	0.00	(2.42)	0.00	0.00	3.23	(3.12)	23.70
0075	2.04	(0.48)	0.00	(23.23)	0.00	0.00	5.56	(6.67)	25.79
6432	0.51	(0.03)	0.00	(0.25)	0.00	0.00	1.05	(1.68)	7.42
5225	0.60	(0.05)	0.00	(3.59)	0.00	0.00	0.97	(1.40)	6.56
5517	0.85	(0.20)	0.00	(0.91)	0.00	0.00	1.49	(2.43)	5.46
5183	1.75	(0.46)	0.00	1.58	0.00	0.00	2.72	(4.92)	21.72

Be your own money manager

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