MyTech Group Correlations

7692 Stock

0.35 0.01 2.78%

The current 90-days correlation between MyTech Group Bhd and Mycron Steel Bhd is -0.08 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as MyTech Group moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if MyTech Group Bhd moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

MyTech Group Correlation With Market

Good diversification

The correlation between MyTech Group Bhd and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MyTech Group Bhd and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with MyTech Stock

0.75	7095	PIE Industrial Bhd	Pair Corr
0.77	7076	CB Industrial Product	Pair Corr
0.72	6888	Axiata Group Bhd	Pair Corr
0.74	5183	Petronas Chemicals	Pair Corr

Moving against MyTech Stock

0.67	1155	Malayan Banking Bhd	Pair Corr
0.56	0104	Genetec Technology Bhd	Pair Corr
0.51	5259	EA Technique M	Pair Corr

Related Correlations Analysis

	5087	5665	0283	7090	0201	8869	9199	1562
5087		0.5	-0.2	0.55	0.43	-0.46	0.71	-0.36	5087
5665	0.5		0.15	0.51	0.85	-0.64	0.69	-0.61	5665
0283	-0.2	0.15		0.01	0.22	-0.16	0.05	0.1	0283
7090	0.55	0.51	0.01		0.63	-0.38	0.78	-0.6	7090
0201	0.43	0.85	0.22	0.63		-0.65	0.69	-0.77	0201
8869	-0.46	-0.64	-0.16	-0.38	-0.65		-0.62	0.47	8869
9199	0.71	0.69	0.05	0.78	0.69	-0.62		-0.53	9199
1562	-0.36	-0.61	0.1	-0.6	-0.77	0.47	-0.53		1562
	5087	5665	0283	7090	0201	8869	9199	1562

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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

0201	+ 0.85	5665
9199	+ 0.78	7090
9199	+ 0.71	5087
9199	+ 0.69	5665
9199	+ 0.69	0201
0201	+ 0.63	7090

High negative correlations

1562	- 0.77	0201
8869	- 0.65	0201
8869	- 0.64	5665
9199	- 0.62	8869
1562	- 0.61	5665
1562	- 0.6	7090

Risk-Adjusted Indicators

There is a big difference between MyTech Stock performing well and MyTech 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 MyTech 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
5087	2.05	(0.12)	0.00	(0.19)	0.00	0.00	5.88	(5.56)	12.90
5665	1.41	(0.38)	0.00	1.28	0.00	0.00	2.00	(3.85)	8.01
0283	1.86	(0.15)	0.00	(1.46)	0.00	0.00	5.88	(5.88)	12.13
7090	0.71	(0.08)	0.00	(0.90)	0.00	0.00	1.26	(2.02)	4.32
0201	1.07	(0.25)	0.00	1.96	0.00	0.00	2.33	(2.50)	9.10
8869	1.06	0.12	0.09	0.28	1.15	(1.29)	2.68	(2.14)	9.87
9199	1.14	(0.30)	0.00	4.37	0.00	0.00	2.22	(2.99)	8.80
1562	0.75	(0.01)	0.00	0.08	0.00	0.00	1.40	(1.92)	5.34

Be your own money manager

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