Pakistan National Correlations

PNSC Stock

501.47 11.75 2.29%

The current 90-days correlation between Pakistan National and Clover Pakistan is 0.22 (i.e., Modest diversification). The correlation of Pakistan National 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.

Pakistan National Correlation With Market

Good diversification

The correlation between Pakistan National Shipping and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pakistan National Shipping and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Pakistan Stock

0.86	MTL	Millat Tractors	Pair Corr
0.9	KAPCO	KOT Addu Power	Pair Corr
0.88	LOADS	Loads	Pair Corr
0.83	AKBL	Askari Bank	Pair Corr
0.88	MARI	Mari Petroleum	Pair Corr
0.85	AGP	AGP	Pair Corr
0.65	EFERT	Engro Fertilizers	Pair Corr
0.94	PSO	Pakistan State Oil	Pair Corr
0.74	HBL	Habib Bank	Pair Corr
0.94	ACIETF	Alfalah Consumer	Pair Corr
0.92	ENGRO	Engro	Pair Corr
0.92	AICL	Adamjee Insurance	Pair Corr
0.77	CLOV	Clover Pakistan	Pair Corr
0.91	FFL	Fauji Foods	Pair Corr
0.9	WTL	WorldCall Telecom	Pair Corr
0.9	OGDC	Oil and Gas	Pair Corr

Related Correlations Analysis

	CLOV	NBP	WTL	MARI	ENGRO	MTL	ACIETF	HBL	FFL	AICL
CLOV		0.65	0.88	0.79	0.86	0.86	0.8	0.7	0.82	0.85	CLOV
NBP	0.65		0.55	0.41	0.51	0.49	0.42	0.75	0.55	0.43	NBP
WTL	0.88	0.55		0.94	0.97	0.9	0.91	0.76	0.9	0.9	WTL
MARI	0.79	0.41	0.94		0.93	0.81	0.86	0.62	0.81	0.86	MARI
ENGRO	0.86	0.51	0.97	0.93		0.91	0.91	0.75	0.89	0.89	ENGRO
MTL	0.86	0.49	0.9	0.81	0.91		0.91	0.74	0.9	0.89	MTL
ACIETF	0.8	0.42	0.91	0.86	0.91	0.91		0.76	0.96	0.95	ACIETF
HBL	0.7	0.75	0.76	0.62	0.75	0.74	0.76		0.87	0.7	HBL
FFL	0.82	0.55	0.9	0.81	0.89	0.9	0.96	0.87		0.93	FFL
AICL	0.85	0.43	0.9	0.86	0.89	0.89	0.95	0.7	0.93		AICL
	CLOV	NBP	WTL	MARI	ENGRO	MTL	ACIETF	HBL	FFL	AICL

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

Risk-Adjusted Indicators

There is a big difference between Pakistan Stock performing well and Pakistan National 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 Pakistan National'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
CLOV	2.13	0.25	0.08	0.62	2.39	(2.67)	5.90	(3.77)	19.72
NBP	2.35	0.10	0.03	0.14	3.61	(2.30)	3.96	(6.75)	19.71
WTL	2.91	0.58	0.14	0.65	3.11	(4.31)	8.48	(5.84)	21.17
MARI	2.93	0.82	0.21	4.25	3.07	(3.43)	9.62	(5.08)	19.94
ENGRO	1.89	0.50	0.26	2.41	1.47	(2.36)	6.14	(3.10)	14.34
MTL	1.32	0.20	0.14	2.85	1.11	(1.70)	2.90	(2.18)	9.26
ACIETF	1.87	0.60	0.22	(3.34)	1.78	(2.31)	4.79	(3.68)	15.41
HBL	1.95	0.39	0.17	(10.81)	1.80	(2.39)	4.98	(4.04)	14.47
FFL	2.65	0.86	0.33	5.33	2.00	(3.75)	8.45	(4.06)	18.32
AICL	2.40	0.70	0.32	(0.69)	1.64	(3.17)	6.70	(3.45)	14.68

Pakistan National Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Pakistan National stock to make a market-neutral strategy. Peer analysis of Pakistan National could also be used in its relative valuation, which is a method of valuing Pakistan National by comparing valuation metrics with similar companies.

Clover Pakistan National Bank of WorldCall Telecom Mari Petroleum Engro Millat Tractors Alfalah Consumer Habib Bank Fauji Foods Adamjee Insurance American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

Risk & Return

Correlation

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