Press Metal Correlations

8869 Stock

4.70 0.04 0.86%

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

Press Metal Correlation With Market

Modest diversification

The correlation between Press Metal Bhd and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Press Metal Bhd and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Press Stock

0.74	5098	Malaysia Steel Works	Pair Corr
0.61	5797	Choo Bee Metal	Pair Corr
0.75	4197	Sime Darby Bhd	Pair Corr
0.71	5183	Petronas Chemicals	Pair Corr

Moving against Press Stock

0.57	1899	Batu Kawan Bhd	Pair Corr
0.43	2445	Kuala Lumpur Kepong	Pair Corr
0.39	5285	Sime Darby Plantation	Pair Corr
0.36	5665	Southern Steel Bhd	Pair Corr
0.36	5225	IHH Healthcare Bhd	Pair Corr

Related Correlations Analysis

	0148	5517	7087	7148	1562	7100	0167
0148		0.45	-0.06	0.76	0.58	-0.14	0.17	0148
5517	0.45		-0.48	0.28	0.33	-0.35	0.4	5517
7087	-0.06	-0.48		0.04	-0.36	0.49	-0.46	7087
7148	0.76	0.28	0.04		0.37	0.21	-0.22	7148
1562	0.58	0.33	-0.36	0.37		-0.2	0.5	1562
7100	-0.14	-0.35	0.49	0.21	-0.2		-0.47	7100
0167	0.17	0.4	-0.46	-0.22	0.5	-0.47		0167
	0148	5517	7087	7148	1562	7100	0167

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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

7148	+ 0.76	0148
1562	+ 0.58	0148
0167	+ 0.5	1562
7100	+ 0.49	7087
5517	+ 0.45	0148
0167	+ 0.4	5517

High negative correlations

7087	- 0.48	5517
0167	- 0.47	7100
0167	- 0.46	7087
1562	- 0.36	7087
7100	- 0.35	5517
0167	- 0.22	7148

Risk-Adjusted Indicators

There is a big difference between Press Stock performing well and Press Metal 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 Press Metal'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
0148	0.71	(0.03)	0.00	0.44	0.00	0.00	3.03	(3.03)	6.16
5517	0.80	(0.05)	0.00	12.11	0.00	0.00	1.97	(1.93)	5.22
7087	0.95	0.31	0.14	(0.99)	0.65	(1.40)	1.98	(1.22)	15.58
7148	1.08	0.05	(0.04)	(0.31)	1.31	(1.43)	2.56	(2.52)	9.73
1562	0.76	(0.11)	0.00	1.45	0.00	0.00	1.30	(1.91)	7.07
7100	0.71	0.04	(0.08)	1.07	0.75	(0.84)	1.31	(1.34)	8.16
0167	2.38	(0.66)	0.00	(1.00)	0.00	0.00	7.14	(6.45)	15.69

Be your own money manager

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