Supermax Bhd Correlations

7106 Stock

0.84 0.03 3.45%

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

Supermax Bhd Correlation With Market

Good diversification

The correlation between Supermax Bhd and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Supermax Bhd and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Supermax Stock

0.75	7113	Top Glove	Pair Corr
0.66	5168	Hartalega Holdings Bhd	Pair Corr
0.61	7153	Kossan Rubber Industries	Pair Corr

Related Correlations Analysis

	8273	0195	7692	5225	5259	4162	7243	5286
8273		0.67	0.09	-0.73	0.15	0.13	-0.3	0.02	8273
0195	0.67		0.03	-0.72	0.04	0.4	-0.31	0.08	0195
7692	0.09	0.03		-0.34	-0.29	-0.25	-0.21	-0.08	7692
5225	-0.73	-0.72	-0.34		0.17	-0.28	0.52	-0.17	5225
5259	0.15	0.04	-0.29	0.17		0.01	0.43	-0.27	5259
4162	0.13	0.4	-0.25	-0.28	0.01		-0.28	0.24	4162
7243	-0.3	-0.31	-0.21	0.52	0.43	-0.28		-0.26	7243
5286	0.02	0.08	-0.08	-0.17	-0.27	0.24	-0.26		5286
	8273	0195	7692	5225	5259	4162	7243	5286

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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

0195	+ 0.67	8273
7243	+ 0.52	5225
7243	+ 0.43	5259
4162	+ 0.4	0195
5286	+ 0.24	4162
5259	+ 0.17	5225

High negative correlations

5225	- 0.73	8273
5225	- 0.72	0195
5225	- 0.34	7692
7243	- 0.31	0195
7243	- 0.3	8273
5259	- 0.29	7692

Risk-Adjusted Indicators

There is a big difference between Supermax Stock performing well and Supermax Bhd 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 Supermax Bhd'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
8273	1.05	(0.10)	0.00	(2.95)	0.00	0.00	2.38	(2.41)	6.46
0195	1.47	(0.17)	0.00	(0.29)	0.00	0.00	4.76	(4.55)	9.76
7692	1.72	(0.10)	0.00	0.24	0.00	0.00	4.55	(6.67)	21.38
5225	0.76	0.24	0.10	(1.17)	0.59	(1.00)	2.50	(1.49)	6.65
5259	0.90	0.03	(0.04)	(0.03)	1.27	(3.74)	3.33	(3.23)	9.78
4162	1.00	0.05	(0.11)	0.01	1.11	(1.44)	2.16	(2.02)	15.42
7243	2.56	0.12	0.00	3.52	2.67	(5.42)	5.00	(4.76)	19.05
5286	2.13	0.11	0.01	0.50	2.09	(2.49)	4.79	(3.14)	11.32

Be your own money manager

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