Bluebik Group Correlations

BBIK Stock

40.00 1.00 2.56%

The current 90-days correlation between Bluebik Group PCL and Delta Electronics Public is 0.14 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Bluebik Group moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Bluebik Group PCL moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Bluebik Group Correlation With Market

Weak diversification

The correlation between Bluebik Group PCL and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bluebik Group PCL and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Bluebik 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 Bluebik 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 Bluebik 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 Bluebik Group PCL to buy it.

Moving together with Bluebik Stock

0.64

DELTA

Delta Electronics Public

Pair Corr

Moving against Bluebik Stock

0.37	AOT	Airports of Thailand	Pair Corr
0.37	TRU	Thai Rung Union	Pair Corr
0.32	PTT	PTT Public	Pair Corr
0.32	PTT-R	PTT Public	Pair Corr

Related Correlations Analysis

	DELTA-R	DELTA	AOT-R	AOT	PTT	PTT-R	INTUCH-R	PTTEP
DELTA-R		0.09	-0.08	-0.11	-0.24	-0.24	-0.05	-0.22	DELTA-R
DELTA	0.09		-0.23	-0.8	-0.66	-0.66	0.24	-0.77	DELTA
AOT-R	-0.08	-0.23		0.14	0.29	0.29	-0.19	0.24	AOT-R
AOT	-0.11	-0.8	0.14		0.64	0.64	0.02	0.74	AOT
PTT	-0.24	-0.66	0.29	0.64		1.0	0.27	0.65	PTT
PTT-R	-0.24	-0.66	0.29	0.64	1.0		0.27	0.65	PTT-R
INTUCH-R	-0.05	0.24	-0.19	0.02	0.27	0.27		-0.28	INTUCH-R
PTTEP	-0.22	-0.77	0.24	0.74	0.65	0.65	-0.28		PTTEP
	DELTA-R	DELTA	AOT-R	AOT	PTT	PTT-R	INTUCH-R	PTTEP

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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

PTT-R	+ 1.0	PTT
PTTEP	+ 0.74	AOT
PTTEP	+ 0.65	PTT
PTTEP	+ 0.65	PTT-R
PTT	+ 0.64	AOT
PTT-R	+ 0.64	AOT

High negative correlations

AOT	- 0.8	DELTA
PTTEP	- 0.77	DELTA
PTT-R	- 0.66	DELTA
PTT	- 0.66	DELTA
PTTEP	- 0.28	INTUCH-R
PTT-R	- 0.24	DELTA-R

Risk-Adjusted Indicators

There is a big difference between Bluebik Stock performing well and Bluebik 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 Bluebik 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
DELTA-R	1.56	0.74	0.00	0.72	0.00	0.00	0.00	0.00	0.00
DELTA	1.90	0.60	0.15	2.29	2.94	(2.37)	4.83	(2.28)	22.88
AOT-R	0.65	(0.24)	0.00	(2.14)	0.00	0.00	1.46	(1.29)	15.02
AOT	0.79	(0.05)	0.00	(0.24)	0.00	0.00	1.65	(1.67)	5.80
PTT	0.78	(0.09)	0.00	(1.02)	0.00	0.00	2.24	(1.55)	5.37
PTT-R	0.78	(0.09)	0.00	(1.02)	0.00	0.00	2.24	(1.55)	5.37
INTUCH-R	1.59	0.13	0.05	0.52	2.02	(1.74)	3.55	(3.50)	11.96
PTTEP	1.08	(0.24)	0.00	(0.40)	0.00	0.00	2.55	(2.47)	6.55

Bluebik Group 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 Bluebik Group stock to make a market-neutral strategy. Peer analysis of Bluebik Group could also be used in its relative valuation, which is a method of valuing Bluebik Group by comparing valuation metrics with similar companies.

Delta Electronics Public Delta Electronics Public Airports of Thailand Airports of Thailand PTT Public PTT Public Intouch Holdings Public PTT Exploration and American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

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