ORIX Leasing Correlations

OLPL Stock

36.10 0.10 0.28%

The current 90-days correlation between ORIX Leasing Pakistan and Premier Insurance is 0.05 (i.e., Significant diversification). The correlation of ORIX Leasing 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.

ORIX Leasing Correlation With Market

Average diversification

The correlation between ORIX Leasing Pakistan and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ORIX Leasing Pakistan and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against ORIX Stock

0.57	MEBL	Meezan Bank	Pair Corr
0.57	AKBL	Askari Bank	Pair Corr
0.52	UBL	United Bank	Pair Corr
0.51	MCB	MCB Bank	Pair Corr
0.39	ABL	Allied Bank	Pair Corr
0.39	HMB	Habib Metropolitan Bank	Pair Corr
0.31	NBP	National Bank	Pair Corr

Related Correlations Analysis

	PINL	IGIL	QUICE	HICL	MSCL	ITTEFAQ	EFUG
PINL		-0.18	-0.34	-0.59	0.62	-0.05	-0.39	PINL
IGIL	-0.18		0.3	0.1	-0.15	-0.25	0.58	IGIL
QUICE	-0.34	0.3		0.42	-0.25	0.01	0.52	QUICE
HICL	-0.59	0.1	0.42		-0.27	0.4	0.32	HICL
MSCL	0.62	-0.15	-0.25	-0.27		0.46	-0.56	MSCL
ITTEFAQ	-0.05	-0.25	0.01	0.4	0.46		-0.4	ITTEFAQ
EFUG	-0.39	0.58	0.52	0.32	-0.56	-0.4		EFUG
	PINL	IGIL	QUICE	HICL	MSCL	ITTEFAQ	EFUG

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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

MSCL	+ 0.62	PINL
EFUG	+ 0.58	IGIL
EFUG	+ 0.52	QUICE
ITTEFAQ	+ 0.46	MSCL
HICL	+ 0.42	QUICE
ITTEFAQ	+ 0.4	HICL

High negative correlations

HICL	- 0.59	PINL
EFUG	- 0.56	MSCL
EFUG	- 0.4	ITTEFAQ
EFUG	- 0.39	PINL
QUICE	- 0.34	PINL
MSCL	- 0.27	HICL

Risk-Adjusted Indicators

There is a big difference between ORIX Stock performing well and ORIX Leasing 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 ORIX Leasing'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
PINL	2.24	(0.07)	0.00	(0.21)	0.00	0.00	5.68	(4.91)	18.56
IGIL	2.99	0.21	0.05	4.21	4.01	(3.74)	9.67	(8.21)	19.70
QUICE	1.85	0.06	0.04	0.09	2.65	(1.90)	3.57	(5.67)	22.36
HICL	2.15	0.22	0.09	0.49	2.78	(2.42)	5.63	(4.25)	22.41
MSCL	1.51	(0.22)	0.00	0.63	0.00	0.00	2.67	(3.58)	16.00
ITTEFAQ	2.51	0.12	0.07	(0.40)	2.75	(3.22)	5.61	(5.06)	35.65
EFUG	1.97	0.21	0.11	(1.06)	2.25	(2.33)	3.95	(4.16)	12.70

Be your own money manager

Our tools can tell you how much better you can do entering a position in ORIX Leasing 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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