Axiata Group Correlations

6888 Stock

2.05 0.06 2.84%

The current 90-days correlation between Axiata Group Bhd and Kossan Rubber Industries is 0.14 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Axiata Group moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Axiata Group Bhd moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Axiata Group Correlation With Market

Significant diversification

The correlation between Axiata Group Bhd and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Axiata Group Bhd and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Axiata 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 Axiata 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 Axiata 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 Axiata Group Bhd to buy it.

Moving together with Axiata Stock

0.65	0251	SFP Tech Holdings	Pair Corr
0.66	0146	JF Technology BHD	Pair Corr
0.76	0208	Greatech Technology Bhd	Pair Corr

Moving against Axiata Stock

0.45	5031	TIME Dotcom Bhd	Pair Corr
0.33	5259	EA Technique M	Pair Corr
0.31	4863	Telekom Malaysia Bhd	Pair Corr

Related Correlations Analysis

	7153	0104	2569	6971	5305	2453	5204	0167
7153		-0.07	-0.78	0.81	0.64	-0.33	0.09	0.19	7153
0104	-0.07		0.35	0.21	0.45	0.39	0.56	0.66	0104
2569	-0.78	0.35		-0.67	-0.54	0.67	-0.03	-0.04	2569
6971	0.81	0.21	-0.67		0.72	-0.17	0.29	0.55	6971
5305	0.64	0.45	-0.54	0.72		-0.24	0.4	0.57	5305
2453	-0.33	0.39	0.67	-0.17	-0.24		0.18	0.22	2453
5204	0.09	0.56	-0.03	0.29	0.4	0.18		0.55	5204
0167	0.19	0.66	-0.04	0.55	0.57	0.22	0.55		0167
	7153	0104	2569	6971	5305	2453	5204	0167

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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

6971	+ 0.81	7153
5305	+ 0.72	6971
2453	+ 0.67	2569
0167	+ 0.66	0104
5305	+ 0.64	7153
0167	+ 0.57	5305

High negative correlations

2569	- 0.78	7153
6971	- 0.67	2569
5305	- 0.54	2569
2453	- 0.33	7153
2453	- 0.24	5305
2453	- 0.17	6971

Risk-Adjusted Indicators

There is a big difference between Axiata Stock performing well and Axiata 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 Axiata 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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
7153	2.25	(0.31)	0.00	(2.00)	0.00	0.00	4.12	(5.30)	22.67
0104	3.45	0.65	0.16	0.75	3.41	(4.59)	6.90	(5.74)	44.20
2569	0.71	0.09	0.08	(1.06)	0.75	(0.93)	1.86	(1.46)	5.02
6971	2.14	(0.04)	0.00	(0.10)	0.00	0.00	5.51	(5.10)	15.02
5305	1.87	0.03	0.01	(0.18)	2.11	(4.15)	4.00	(3.85)	11.69
2453	0.75	0.05	0.04	0.22	0.90	(1.44)	2.46	(1.34)	7.46
5204	2.27	0.10	0.03	(0.61)	2.24	(4.80)	3.23	(3.12)	21.51
0167	3.69	0.33	0.07	1.04	3.28	(6.43)	10.71	(6.67)	20.95

Be your own money manager

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