Soneri Bank Correlations

SNBL Stock

16.60 0.17 1.01%

The current 90-days correlation between Soneri Bank and Habib Bank is 0.33 (i.e., Weak diversification). The correlation of Soneri Bank 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.

Soneri Bank Correlation With Market

Good diversification

The correlation between Soneri Bank and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Soneri Bank and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Soneri Stock

0.9	FFL	Fauji Foods	Pair Corr
0.88	KSBP	KSB Pumps	Pair Corr
0.83	MARI	Mari Petroleum	Pair Corr
0.87	LOADS	Loads	Pair Corr
0.94	THCCL	Thatta Cement	Pair Corr
0.92	KAPCO	KOT Addu Power	Pair Corr
0.92	REWM	Reliance Weaving Mills	Pair Corr
0.92	ENGRO	Engro	Pair Corr
0.75	OGDC	Oil and Gas	Pair Corr
0.87	HBL	Habib Bank	Pair Corr
0.81	PSO	Pakistan State Oil	Pair Corr
0.87	AICL	Adamjee Insurance	Pair Corr
0.84	CLOV	Clover Pakistan	Pair Corr
0.91	MTL	Millat Tractors	Pair Corr
0.93	AKBL	Askari Bank	Pair Corr
0.89	ACIETF	Alfalah Consumer	Pair Corr
0.8	AGP	AGP	Pair Corr
0.94	WTL	WorldCall Telecom	Pair Corr
0.68	EFERT	Engro Fertilizers	Pair Corr

Related Correlations Analysis

	HBL	NBP	UBL	MCB	ABL	BAHL	BAFL	AKBL	HMB
HBL		0.7	0.83	0.93	0.94	0.98	0.95	0.96	0.94	HBL
NBP	0.7		0.42	0.62	0.63	0.65	0.62	0.69	0.58	NBP
UBL	0.83	0.42		0.88	0.84	0.88	0.91	0.86	0.92	UBL
MCB	0.93	0.62	0.88		0.91	0.96	0.96	0.9	0.93	MCB
ABL	0.94	0.63	0.84	0.91		0.95	0.94	0.93	0.95	ABL
BAHL	0.98	0.65	0.88	0.96	0.95		0.98	0.95	0.97	BAHL
BAFL	0.95	0.62	0.91	0.96	0.94	0.98		0.95	0.96	BAFL
AKBL	0.96	0.69	0.86	0.9	0.93	0.95	0.95		0.94	AKBL
HMB	0.94	0.58	0.92	0.93	0.95	0.97	0.96	0.94		HMB
	HBL	NBP	UBL	MCB	ABL	BAHL	BAFL	AKBL	HMB

Click cells to compare fundamentals

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Risk-Adjusted Indicators

There is a big difference between Soneri Stock performing well and Soneri Bank 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 Soneri Bank'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
HBL	1.96	0.36	0.17	5.02	1.81	(2.44)	4.98	(4.04)	14.47
NBP	2.27	0.03	0.00	0.12	3.63	(2.19)	3.95	(6.75)	19.71
UBL	1.49	0.44	0.22	(0.59)	1.39	(1.63)	4.18	(2.65)	10.16
MCB	1.57	0.21	0.09	3.30	2.04	(1.66)	4.44	(4.05)	11.22
ABL	1.54	0.29	0.13	(1.92)	1.71	(1.72)	4.53	(3.25)	10.81
BAHL	1.71	0.42	0.19	(16.24)	1.52	(1.85)	6.59	(3.43)	14.57
BAFL	2.04	0.48	0.20	(3.36)	2.04	(2.71)	5.94	(4.29)	15.57
AKBL	2.10	0.49	0.16	(2.17)	2.40	(2.32)	8.08	(4.23)	18.66
HMB	1.41	0.38	0.19	(3.32)	1.39	(1.67)	3.95	(2.17)	14.15

Be your own money manager

Our tools can tell you how much better you can do entering a position in Soneri Bank 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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