Pentamaster Bhd Correlations
| 7160 Stock | 4.05 0.01 0.25% |
The current 90-days correlation between Pentamaster Bhd and MI Technovation Bhd is 0.4 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Pentamaster Bhd moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Pentamaster Bhd moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Pentamaster Bhd Correlation With Market
Significant diversification
The correlation between Pentamaster Bhd and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pentamaster Bhd and DJI in the same portfolio, assuming nothing else is changed.
Pentamaster |
The ability to find closely correlated positions to Pentamaster 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 Pentamaster 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 Pentamaster 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 Pentamaster Bhd to buy it.
Moving together with Pentamaster Stock
Moving against Pentamaster Stock
| 0.56 | 5819 | Hong Leong Bank | PairCorr |
| 0.5 | 1155 | Malayan Banking Bhd | PairCorr |
| 0.46 | 5347 | Tenaga Nasional Bhd | PairCorr |
| 0.42 | 6033 | Petronas Gas Bhd | PairCorr |
| 0.38 | 5183 | Petronas Chemicals | PairCorr |
| 0.32 | 3816 | MISC Bhd | PairCorr |
Related Correlations Analysis
| 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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Pentamaster Stock performing well and Pentamaster 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 Pentamaster 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 5286 | 1.92 | 0.23 | 0.10 | 1.11 | 1.79 | 4.52 | 11.51 | |||
| 5665 | 2.01 | 0.08 | 0.02 | 0.40 | 2.06 | 6.12 | 14.35 | |||
| 7219 | 1.83 | (0.03) | 0.00 | 0.10 | 0.00 | 7.69 | 21.43 | |||
| 9881 | 1.32 | (0.10) | 0.00 | 0.24 | 0.00 | 2.50 | 16.34 | |||
| 0167 | 2.93 | 0.07 | 0.00 | (0.03) | 2.88 | 8.33 | 20.95 | |||
| 5305 | 1.40 | 0.11 | 0.02 | 0.26 | 1.64 | 4.17 | 8.17 | |||
| 7692 | 1.60 | (0.04) | 0.00 | (0.10) | 0.00 | 4.55 | 22.32 |
Pentamaster Bhd Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Pentamaster Bhd stock to make a market-neutral strategy. Peer analysis of Pentamaster Bhd could also be used in its relative valuation, which is a method of valuing Pentamaster Bhd by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |