Eonmetall Group Correlations

7217 Stock

0.28 0.01 3.45%

The current 90-days correlation between Eonmetall Group Bhd and K One Technology Bhd is -0.09 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Eonmetall Group moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Eonmetall Group Bhd moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Eonmetall Group Correlation With Market

Good diversification

The correlation between Eonmetall Group 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 Eonmetall Group Bhd and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Eonmetall Stock

0.8

5125

Pantech Group Holdings

Pair Corr

Moving against Eonmetall Stock

0.68	0104	Genetec Technology Bhd	Pair Corr
0.6	0240	Coraza Integrated	Pair Corr
0.38	8869	Press Metal Bhd	Pair Corr

Related Correlations Analysis

	0111	5322	2682	0001	5094	5665	5302	7100
0111		0.7	0.14	0.69	0.28	0.02	0.66	0.29	0111
5322	0.7		-0.06	0.86	-0.17	-0.35	0.81	0.51	5322
2682	0.14	-0.06		-0.11	0.59	0.61	-0.41	-0.52	2682
0001	0.69	0.86	-0.11		-0.14	-0.29	0.87	0.34	0001
5094	0.28	-0.17	0.59	-0.14		0.68	-0.33	-0.47	5094
5665	0.02	-0.35	0.61	-0.29	0.68		-0.53	-0.62	5665
5302	0.66	0.81	-0.41	0.87	-0.33	-0.53		0.61	5302
7100	0.29	0.51	-0.52	0.34	-0.47	-0.62	0.61		7100
	0111	5322	2682	0001	5094	5665	5302	7100

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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

5302	+ 0.87	0001
0001	+ 0.86	5322
5302	+ 0.81	5322
5322	+ 0.7	0111
0001	+ 0.69	0111
5665	+ 0.68	5094

High negative correlations

7100	- 0.62	5665
5302	- 0.53	5665
7100	- 0.52	2682
7100	- 0.47	5094
5302	- 0.41	2682
5665	- 0.35	5322

Risk-Adjusted Indicators

There is a big difference between Eonmetall Stock performing well and Eonmetall 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 Eonmetall 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
0111	3.17	(0.09)	0.00	0.15	0.00	0.00	6.25	(5.88)	16.99
5322	2.48	0.05	0.01	(0.10)	2.63	(4.16)	7.25	(4.69)	17.79
2682	2.33	(0.56)	0.00	(0.59)	0.00	0.00	8.33	(8.33)	27.27
0001	1.12	(0.05)	0.00	0.11	0.00	0.00	2.42	(2.44)	9.11
5094	0.73	(0.07)	0.00	0.61	0.00	0.00	1.71	(1.69)	4.36
5665	1.51	(0.19)	0.00	(0.35)	0.00	0.00	3.77	(3.70)	14.35
5302	1.31	0.16	0.08	(0.80)	1.53	(1.61)	2.50	(2.40)	13.75
7100	0.64	0.05	0.06	(0.90)	0.67	(0.76)	1.56	(1.28)	4.12

Be your own money manager

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