Saigon Machinery Correlations

SMA Stock

11,400 500.00 4.59%

The current 90-days correlation between Saigon Machinery Spare and FIT INVEST JSC is 0.06 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Saigon Machinery moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Saigon Machinery Spare moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Saigon Machinery Correlation With Market

Significant diversification

The correlation between Saigon Machinery Spare and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Saigon Machinery Spare and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Saigon Stock

0.66	ELC	Elcom Technology Com	Pair Corr
0.66	BCF	Bich Chi Food	Pair Corr

Moving against Saigon Stock

0.71	AME	Alphanam ME	Pair Corr
0.71	ABT	Bentre Aquaproduct Import	Pair Corr
0.64	ADS	Damsan JSC	Pair Corr
0.64	AAA	An Phat Plastic	Pair Corr
0.57	APG	APG Securities Joint	Pair Corr
0.5	AAM	Mekong Fisheries JSC	Pair Corr
0.45	FIT	FIT INVEST JSC	Pair Corr

Related Correlations Analysis

	FIT	ADS	AAA	AME	APG	ABS	AAM	ABT
FIT		0.51	0.55	0.69	0.45	-0.12	0.33	0.44	FIT
ADS	0.51		0.91	0.75	0.78	0.07	0.68	0.75	ADS
AAA	0.55	0.91		0.79	0.75	0.22	0.8	0.76	AAA
AME	0.69	0.75	0.79		0.71	-0.17	0.63	0.79	AME
APG	0.45	0.78	0.75	0.71		-0.16	0.53	0.67	APG
ABS	-0.12	0.07	0.22	-0.17	-0.16		0.43	0.08	ABS
AAM	0.33	0.68	0.8	0.63	0.53	0.43		0.76	AAM
ABT	0.44	0.75	0.76	0.79	0.67	0.08	0.76		ABT
	FIT	ADS	AAA	AME	APG	ABS	AAM	ABT

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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

AAA	+ 0.91	ADS
AAM	+ 0.8	AAA
AME	+ 0.79	AAA
ABT	+ 0.79	AME
APG	+ 0.78	ADS
ABT	+ 0.76	AAA

High negative correlations

ABS	- 0.17	AME
ABS	- 0.16	APG
ABS	- 0.12	FIT

Risk-Adjusted Indicators

There is a big difference between Saigon Stock performing well and Saigon Machinery 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 Saigon Machinery'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
FIT	0.78	(0.09)	0.00	(1.02)	0.00	0.00	1.62	(2.06)	6.72
ADS	1.16	(0.17)	0.00	3.33	0.00	0.00	3.45	(2.15)	12.45
AAA	0.92	(0.22)	0.00	(0.58)	0.00	0.00	1.82	(2.09)	6.34
AME	2.48	(0.51)	0.00	(2.00)	0.00	0.00	5.36	(7.25)	18.62
APG	1.02	(0.25)	0.00	14.07	0.00	0.00	3.27	(2.90)	10.06
ABS	1.51	0.21	0.09	(0.63)	1.69	(2.00)	5.10	(3.31)	12.04
AAM	1.98	(0.10)	0.00	(0.18)	0.00	0.00	4.69	(5.00)	11.74
ABT	0.77	(0.11)	0.00	(4.03)	0.00	0.00	1.91	(2.03)	8.20

Be your own money manager

Our tools can tell you how much better you can do entering a position in Saigon Machinery 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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