Sindh Modaraba Correlations

SINDM Stock

10.20 0.18 1.73%

The current 90-days correlation between Sindh Modaraba Management and Masood Textile Mills is -0.11 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Sindh Modaraba moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Sindh Modaraba Management moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Sindh Modaraba Correlation With Market

Good diversification

The correlation between Sindh Modaraba Management and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sindh Modaraba Management and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Sindh Stock

0.8	FFL	Fauji Foods	Pair Corr
0.71	KSBP	KSB Pumps	Pair Corr
0.84	LOADS	Loads	Pair Corr
0.75	THCCL	Thatta Cement	Pair Corr
0.79	KAPCO	KOT Addu Power	Pair Corr

Related Correlations Analysis

	MSOT	FFL	KSBP	MARI	LOADS	THCCL	KAPCO	REWM
MSOT		-0.16	0.01	0.08	-0.09	-0.16	-0.11	0.23	MSOT
FFL	-0.16		0.81	0.57	0.9	0.94	0.96	0.5	FFL
KSBP	0.01	0.81		0.64	0.88	0.72	0.81	0.64	KSBP
MARI	0.08	0.57	0.64		0.58	0.56	0.58	0.45	MARI
LOADS	-0.09	0.9	0.88	0.58		0.84	0.9	0.44	LOADS
THCCL	-0.16	0.94	0.72	0.56	0.84		0.9	0.35	THCCL
KAPCO	-0.11	0.96	0.81	0.58	0.9	0.9		0.55	KAPCO
REWM	0.23	0.5	0.64	0.45	0.44	0.35	0.55		REWM
	MSOT	FFL	KSBP	MARI	LOADS	THCCL	KAPCO	REWM

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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

KAPCO	+ 0.96	FFL
THCCL	+ 0.94	FFL
LOADS	+ 0.9	FFL
KAPCO	+ 0.9	LOADS
KAPCO	+ 0.9	THCCL
LOADS	+ 0.88	KSBP

High negative correlations

THCCL	- 0.16	MSOT
FFL	- 0.16	MSOT
KAPCO	- 0.11	MSOT
LOADS	- 0.09	MSOT

Risk-Adjusted Indicators

There is a big difference between Sindh Stock performing well and Sindh Modaraba 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 Sindh Modaraba'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
MSOT	2.57	(0.10)	0.00	(0.02)	0.00	0.00	9.94	(8.71)	18.71
FFL	2.32	0.88	0.40	(1.62)	1.29	(3.44)	8.09	(3.11)	13.31
KSBP	2.29	0.16	0.03	(15.74)	2.44	(2.60)	5.42	(4.12)	15.09
MARI	3.81	2.02	0.91	8.52	0.97	(4.83)	9.86	(2.55)	59.96
LOADS	2.48	0.71	0.21	(4.36)	2.22	(2.76)	6.33	(3.61)	17.71
THCCL	4.40	2.33	0.47	(2.05)	3.57	(5.70)	10.00	(6.26)	19.95
KAPCO	1.73	0.49	0.26	(3.14)	1.08	(2.29)	5.52	(1.97)	12.21
REWM	3.93	1.43	0.26	2.61	2.75	(6.68)	10.00	(7.50)	19.35

Be your own money manager

Our tools can tell you how much better you can do entering a position in Sindh Modaraba 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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