Clover Pakistan Correlations

CLOV Stock   45.21  1.10  2.38%   
The current 90-days correlation between Clover Pakistan and National Bank of is 0.25 (i.e., Modest diversification). The correlation of Clover Pakistan is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Clover Pakistan Correlation With Market

Average diversification

The correlation between Clover Pakistan and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Clover Pakistan and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Clover Pakistan could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Clover Pakistan 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 Clover Pakistan - 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 Clover Pakistan to buy it.

Moving together with Clover Stock

  0.66OGDC Oil and GasPairCorr
  0.69PSO Pakistan State OilPairCorr
  0.77PPL Pakistan PetroleumPairCorr
  0.77FFC Fauji FertilizerPairCorr
  0.7HBL Habib BankPairCorr
  0.79MARI Mari PetroleumPairCorr
  0.67MCB MCB BankPairCorr
  0.77UBL United BankPairCorr
  0.81LUCK Lucky CementPairCorr
  0.65NBP National BankPairCorr
  0.68AGP AGPPairCorr
  0.8ACIETF Alfalah ConsumerPairCorr
  0.74LOADS LoadsPairCorr
  0.77KAPCO KOT Addu PowerPairCorr
  0.82FFL Fauji FoodsPairCorr
  0.86ENGRO EngroPairCorr
  0.88WTL WorldCall TelecomPairCorr
  0.85AICL Adamjee InsurancePairCorr
  0.69EFERT Engro FertilizersPairCorr
  0.85MTL Millat TractorsPairCorr
  0.82AKBL Askari BankPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Clover Stock performing well and Clover Pakistan 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 Clover Pakistan'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
NBP  2.35  0.10  0.03  0.14  3.61 
 3.96 
 19.71 
UBL  1.47  0.38  0.18  1.58  1.42 
 4.18 
 10.16 
BAFL  2.00  0.50  0.21  1.16  2.02 
 5.94 
 15.57 
ABL  1.51  0.33  0.15  0.90  1.68 
 4.53 
 10.81 
MEBL  1.46 (0.03) 0.00 (0.03) 0.00 
 4.24 
 19.53 
AKBL  2.20  0.57  0.19  0.71  2.45 
 8.08 
 18.66 
HMB  1.41  0.37  0.20  0.57  1.37 
 3.95 
 14.15 
MCB  1.62  0.25  0.10  1.94  1.99 
 4.52 
 11.22 
BAHL  1.70  0.46  0.22  0.80  1.46 
 6.59 
 14.57 
FABL  1.75  0.09  0.02  0.36  2.58 
 3.65 
 17.28 

Be your own money manager

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