Chiang Mai Correlations
| CMR Stock | THB 1.35 0.01 0.74% |
The current 90-days correlation between Chiang Mai Ram and Ekachai Medical Care is -0.12 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Chiang Mai moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Chiang Mai Ram moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Chiang Mai Correlation With Market
Weak diversification
The correlation between Chiang Mai Ram and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Chiang Mai Ram and DJI in the same portfolio, assuming nothing else is changed.
Chiang |
The ability to find closely correlated positions to Chiang Mai could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Chiang Mai 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 Chiang Mai - 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 Chiang Mai Ram to buy it.
Moving together with Chiang Stock
| 0.94 | RAM | Ramkhamhaeng Hospital | PairCorr |
| 0.84 | THG | Thonburi Healthcare Grp | PairCorr |
| 0.94 | VIBHA | Vibhavadi Medical Center | PairCorr |
| 0.76 | SKR | Sikarin Public | PairCorr |
| 0.89 | THG-R | THONBURI HEALTHCARE GRO | PairCorr |
| 0.76 | TGE | Thachang Green Energy | PairCorr |
| 0.68 | RCL-R | Regional Container Lines | PairCorr |
| 0.82 | M-CHAI | Mahachai Hospital Public | PairCorr |
Moving against Chiang Stock
| 0.78 | INSURE | Indara Insurance Public | PairCorr |
| 0.72 | KYE | Kang Yong Electric | PairCorr |
| 0.69 | STANLY | Thai Stanley Electric | PairCorr |
| 0.66 | GVREIT | Golden Ventures Leasehold | PairCorr |
| 0.64 | KKP | Kiatnakin Phatra Bank | PairCorr |
| 0.49 | METCO | Muramoto Electron Public | PairCorr |
Related Correlations Analysis
| 0.2 | -0.4 | 0.92 | 0.68 | CHG | ||
| 0.2 | -0.15 | -0.01 | -0.1 | BCH | ||
| -0.4 | -0.15 | -0.42 | -0.07 | EKH | ||
| 0.92 | -0.01 | -0.42 | 0.71 | VIBHA | ||
| 0.68 | -0.1 | -0.07 | 0.71 | AHC | ||
| 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
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between Chiang Stock performing well and Chiang Mai 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 Chiang Mai'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CHG | 1.83 | (0.44) | 0.00 | (0.92) | 0.00 | 4.90 | 11.41 | |||
| BCH | 1.74 | (0.11) | 0.00 | 1.10 | 0.00 | 4.23 | 9.84 | |||
| EKH | 1.02 | 0.01 | 0.06 | (0.13) | 1.19 | 2.48 | 5.67 | |||
| VIBHA | 1.10 | (0.36) | 0.00 | 45.71 | 0.00 | 2.05 | 7.59 | |||
| AHC | 1.24 | (0.09) | 0.00 | (0.69) | 0.00 | 1.37 | 21.40 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Chiang Mai 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 Portfolio Volatility Now
Portfolio VolatilityCheck portfolio volatility and analyze historical return density to properly model market risk |
| All Next | Launch Module |