Hotel Sigiriya Correlations

Stocks . Sri Lanka . 
Stock . Hotel Sigiriya PLC
HSIGN0000   76.80  0.10  0.13%   
The current 90-days correlation between Hotel Sigiriya PLC and Mahaweli Reach Hotel is 0.21 (i.e., Modest diversification). The correlation of Hotel Sigiriya 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.
  
The ability to find closely correlated positions to Hotel Sigiriya could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hotel Sigiriya 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 Hotel Sigiriya - 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 Hotel Sigiriya PLC to buy it.

Moving together with Hotel Stock

  0.68PLRN0000 Prime Lands ResidenciesPairCorr
  0.65JATN0000 Jat Holdings PLCPairCorr
  0.73LCBFN0000 Lanka CreditPairCorr

Related Correlations Analysis

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   
SOYN0000
+ 0.83
RENUN0000
TRANN0000
+ 0.78
MRHN0000
TAJN0000
+ 0.69
HSIGN0000
TRANN0000
+ 0.6
HSIGN0000
TRANN0000
+ 0.51
TAJN0000
TRANN0000
+ 0.44
BREWN0000
  
High negative correlations   
BREWN0000
- 0.41
SOYN0000
TRANN0000
- 0.36
SOYN0000
BREWN0000
- 0.36
RENUN0000
SOYN0000
- 0.32
MRHN0000
TRANN0000
- 0.15
RENUN0000
RENUN0000
- 0.08
MRHN0000

Risk-Adjusted Indicators

There is a big difference between Hotel Stock performing well and Hotel Sigiriya 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 Hotel Sigiriya'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Hotel Sigiriya 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 Equity Analysis Now

   

Equity Analysis

Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities
All  Next Launch Module
Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY