San Miguel Correlations
| SMC2I Stock | 72.80 1.00 1.39% |
The current 90-days correlation between San Miguel Corp and Atlas Consolidated Mining is 0.09 (i.e., Significant diversification). The correlation of San Miguel 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. If the correlation is 0, the equities are not correlated; they are entirely random.
San Miguel Correlation With Market
Good diversification
The correlation between San Miguel Corp 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 San Miguel Corp and DJI in the same portfolio, assuming nothing else is changed.
San |
The ability to find closely correlated positions to San Miguel could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace San Miguel 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 San Miguel - 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 San Miguel Corp to buy it.
Moving against San Stock
Related Correlations Analysis
| 0.59 | -0.31 | 0.7 | 0.36 | 0.14 | 0.69 | AT | ||
| 0.59 | -0.45 | 0.83 | 0.1 | -0.11 | 0.73 | MBT | ||
| -0.31 | -0.45 | -0.37 | 0.01 | -0.17 | -0.4 | TBGI | ||
| 0.7 | 0.83 | -0.37 | 0.19 | -0.14 | 0.75 | SECB | ||
| 0.36 | 0.1 | 0.01 | 0.19 | 0.2 | 0.25 | EW | ||
| 0.14 | -0.11 | -0.17 | -0.14 | 0.2 | 0.02 | MRSGI | ||
| 0.69 | 0.73 | -0.4 | 0.75 | 0.25 | 0.02 | UBP | ||
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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
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Risk-Adjusted Indicators
There is a big difference between San Stock performing well and San Miguel 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 San Miguel'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| AT | 1.36 | (0.17) | 0.00 | 0.69 | 0.00 | 3.19 | 11.82 | |||
| MBT | 1.57 | (0.12) | 0.00 | (0.63) | 0.00 | 3.53 | 9.57 | |||
| TBGI | 2.05 | 0.17 | 0.02 | 1.25 | 2.66 | 7.69 | 14.84 | |||
| SECB | 1.58 | (0.18) | 0.00 | (0.32) | 0.00 | 4.28 | 10.28 | |||
| EW | 0.71 | 0.02 | 0.01 | 0.18 | 0.86 | 2.02 | 6.22 | |||
| MRSGI | 0.78 | 0.01 | 0.00 | 3.36 | 0.95 | 1.68 | 6.70 | |||
| UBP | 1.22 | (0.12) | 0.00 | (0.42) | 0.00 | 2.22 | 11.01 |
San Miguel 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 San Miguel stock to make a market-neutral strategy. Peer analysis of San Miguel could also be used in its relative valuation, which is a method of valuing San Miguel by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |