Oriental Food Correlations

7107 Stock

1.50 0.01 0.67%

The current 90-days correlation between Oriental Food Industries and Eonmetall Group Bhd is 0.03 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Oriental Food moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Oriental Food Industries moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Oriental Food Correlation With Market

Modest diversification

The correlation between Oriental Food Industries and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oriental Food Industries and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Oriental Stock

0.64	4707	Nestle Bhd	Pair Corr
0.8	4162	British American Tobacco	Pair Corr
0.61	5306	FARM FRESH BERHAD	Pair Corr
0.81	7216	Kawan Food Bhd	Pair Corr
0.82	0201	Nova Wellness Group	Pair Corr
0.75	5183	Petronas Chemicals	Pair Corr
0.79	7153	Kossan Rubber Industries	Pair Corr

Moving against Oriental Stock

0.73	1066	RHB Bank Bhd	Pair Corr
0.6	1155	Malayan Banking Bhd	Pair Corr
0.44	6432	Apollo Food Holdings	Pair Corr
0.43	5819	Hong Leong Bank	Pair Corr
0.33	5222	FGV Holdings Bhd	Pair Corr

Related Correlations Analysis

	5183	7217	9881	5149	7090	0283	7100	0201
5183		0.26	0.67	0.53	0.72	0.65	0.6	0.88	5183
7217	0.26		-0.12	-0.32	-0.1	0.18	-0.26	0.03	7217
9881	0.67	-0.12		0.64	0.77	0.59	0.66	0.83	9881
5149	0.53	-0.32	0.64		0.76	0.37	0.73	0.7	5149
7090	0.72	-0.1	0.77	0.76		0.5	0.9	0.91	7090
0283	0.65	0.18	0.59	0.37	0.5		0.2	0.67	0283
7100	0.6	-0.26	0.66	0.73	0.9	0.2		0.79	7100
0201	0.88	0.03	0.83	0.7	0.91	0.67	0.79		0201
	5183	7217	9881	5149	7090	0283	7100	0201

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

0201	+ 0.91	7090
7100	+ 0.9	7090
0201	+ 0.88	5183
0201	+ 0.83	9881
0201	+ 0.79	7100
7090	+ 0.77	9881

High negative correlations

5149	- 0.32	7217
7100	- 0.26	7217
9881	- 0.12	7217
7090	- 0.1	7217

Risk-Adjusted Indicators

There is a big difference between Oriental Stock performing well and Oriental Food 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 Oriental Food'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
5183	1.76	(0.35)	0.00	0.97	0.00	0.00	2.74	(4.92)	21.72
7217	2.19	(0.10)	0.00	(3.70)	0.00	0.00	7.14	(6.67)	20.39
9881	1.74	(0.04)	0.00	0.03	0.00	0.00	7.50	(4.88)	22.82
5149	1.44	(0.06)	0.00	0.52	0.00	0.00	3.45	(4.41)	11.11
7090	1.03	(0.22)	0.00	(1.41)	0.00	0.00	2.04	(2.44)	5.39
0283	1.76	0.07	0.01	0.09	2.41	(7.32)	6.25	(6.25)	14.36
7100	1.14	(0.29)	0.00	2.65	0.00	0.00	1.58	(3.13)	10.90
0201	1.46	(0.45)	0.00	(0.54)	0.00	0.00	2.33	(5.56)	16.06

Be your own money manager

Our tools can tell you how much better you can do entering a position in Oriental Food 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.

Did you try this?

Run Portfolio Center Now

Portfolio Center

All portfolio management and optimization tools to improve performance of your portfolios

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC