Star Media Correlations

6084 Stock   0.40  0.01  2.56%   
The current 90-days correlation between Star Media Group and Ho Hup Construction is 0.04 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Star Media moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Star Media Group moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Star Media Correlation With Market

Average diversification

The correlation between Star Media Group and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Star Media Group and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Star Media could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Star Media 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 Star Media - 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 Star Media Group to buy it.

Moving against Star Stock

  0.421015 AMMB Holdings BhdPairCorr
  0.422488 Alliance FinancialPairCorr

Related Correlations Analysis

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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   
72175169
37785169
72173778
15628869
15624502
88690167
  
High negative correlations   
15627217
88693778
15625169
01675169
15623778
88695169

Risk-Adjusted Indicators

There is a big difference between Star Stock performing well and Star Media 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 Star Media'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.

Be your own money manager

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