DOMESCO Medical Correlations

DMC Stock

68,500 500.00 0.72%

The current 90-days correlation between DOMESCO Medical Import and Nafoods Group JSC is 0.07 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as DOMESCO Medical moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if DOMESCO Medical Import moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

DOMESCO Medical Correlation With Market

Good diversification

The correlation between DOMESCO Medical Import and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding DOMESCO Medical Import and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against DOMESCO Stock

0.87	AME	Alphanam ME	Pair Corr
0.72	FIT	FIT INVEST JSC	Pair Corr
0.51	SPC	Saigon Plant Protection	Pair Corr
0.33	APG	APG Securities Joint	Pair Corr

Related Correlations Analysis

	NAF	EID	POT	SMN	VNM	PTI	DAE	FCM
NAF		0.26	0.36	0.09	0.28	-0.14	-0.03	0.17	NAF
EID	0.26		0.35	0.3	-0.54	0.24	0.51	0.87	EID
POT	0.36	0.35		0.11	0.36	0.07	0.21	0.45	POT
SMN	0.09	0.3	0.11		-0.22	0.43	0.35	0.4	SMN
VNM	0.28	-0.54	0.36	-0.22		-0.36	-0.44	-0.48	VNM
PTI	-0.14	0.24	0.07	0.43	-0.36		0.53	0.44	PTI
DAE	-0.03	0.51	0.21	0.35	-0.44	0.53		0.66	DAE
FCM	0.17	0.87	0.45	0.4	-0.48	0.44	0.66		FCM
	NAF	EID	POT	SMN	VNM	PTI	DAE	FCM

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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

FCM	+ 0.87	EID
FCM	+ 0.66	DAE
DAE	+ 0.53	PTI
DAE	+ 0.51	EID
FCM	+ 0.45	POT
FCM	+ 0.44	PTI

High negative correlations

VNM	- 0.54	EID
FCM	- 0.48	VNM
DAE	- 0.44	VNM
PTI	- 0.36	VNM
VNM	- 0.22	SMN
PTI	- 0.14	NAF

Risk-Adjusted Indicators

There is a big difference between DOMESCO Stock performing well and DOMESCO Medical 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 DOMESCO Medical'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
NAF	0.68	0.08	0.20	(1.80)	0.59	(1.16)	1.56	(1.01)	6.42
EID	0.64	0.09	0.16	20.20	0.61	(1.06)	1.83	(1.49)	4.64
POT	4.08	(0.03)	0.03	(0.05)	4.70	(4.71)	7.73	(8.43)	17.87
SMN	2.25	0.38	0.08	0.88	3.13	(3.01)	6.06	(7.14)	19.09
VNM	0.64	(0.02)	0.00	1.79	0.00	0.00	1.61	(1.30)	5.34
PTI	1.66	0.16	0.12	(0.50)	1.99	(1.97)	4.29	(3.49)	13.69
DAE	2.59	0.08	0.05	(0.15)	3.24	(4.70)	9.38	(6.47)	19.29
FCM	2.63	0.52	0.19	(3.82)	2.66	(3.23)	6.91	(5.49)	13.79

Be your own money manager

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