Minetech Resources Correlations

7219 Stock

0.11 0.00 0.00%

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

Minetech Resources Correlation With Market

Significant diversification

The correlation between Minetech Resources Bhd and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Minetech Resources Bhd and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Minetech Stock

0.83

5183

Petronas Chemicals

Pair Corr

Moving against Minetech Stock

0.72	1155	Malayan Banking Bhd	Pair Corr
0.58	8869	Press Metal Bhd	Pair Corr
0.55	5222	FGV Holdings Bhd	Pair Corr
0.39	2445	Kuala Lumpur Kepong	Pair Corr

Related Correlations Analysis

	1155	0131	9148	5306	5302	0240	5286	7090
1155		-0.67	-0.65	-0.73	-0.78	-0.47	-0.72	-0.52	1155
0131	-0.67		0.46	0.63	0.75	0.57	0.85	0.77	0131
9148	-0.65	0.46		0.44	0.58	0.25	0.56	0.43	9148
5306	-0.73	0.63	0.44		0.81	0.58	0.69	0.39	5306
5302	-0.78	0.75	0.58	0.81		0.58	0.78	0.57	5302
0240	-0.47	0.57	0.25	0.58	0.58		0.72	0.52	0240
5286	-0.72	0.85	0.56	0.69	0.78	0.72		0.86	5286
7090	-0.52	0.77	0.43	0.39	0.57	0.52	0.86		7090
	1155	0131	9148	5306	5302	0240	5286	7090

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

7090	+ 0.86	5286
5286	+ 0.85	0131
5302	+ 0.81	5306
5286	+ 0.78	5302
7090	+ 0.77	0131
5302	+ 0.75	0131

High negative correlations

5302	- 0.78	1155
5306	- 0.73	1155
5286	- 0.72	1155
0131	- 0.67	1155
9148	- 0.65	1155
7090	- 0.52	1155

Risk-Adjusted Indicators

There is a big difference between Minetech Stock performing well and Minetech Resources 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 Minetech Resources' 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
1155	0.55	0.00	0.09	0.00	0.46	(0.82)	1.38	(0.78)	4.10
0131	2.32	(0.33)	0.00	(2.90)	0.00	0.00	8.33	(8.33)	18.33
9148	0.83	(0.07)	0.00	(0.31)	0.00	0.00	3.17	(4.62)	9.76
5306	1.20	(0.04)	0.00	(0.28)	0.00	0.00	2.27	(2.30)	6.78
5302	1.46	(0.09)	0.00	5.12	0.00	0.00	3.09	(4.08)	9.82
0240	3.24	0.02	0.00	0.03	4.50	(3.51)	5.88	(6.67)	18.87
5286	1.72	(0.31)	0.00	(0.51)	0.00	0.00	3.41	(3.98)	10.43
7090	1.03	(0.28)	0.00	(0.83)	0.00	0.00	1.99	(2.44)	5.39

Be your own money manager

Our tools can tell you how much better you can do entering a position in Minetech Resources 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 Idea Optimizer Now

Idea Optimizer

Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio

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