Swire Pacific Correlations

SWRAY Stock

USD 8.97 0.04 0.45%

The current 90-days correlation between Swire Pacific and CK Hutchison Holdings is 0.23 (i.e., Modest diversification). The correlation of Swire Pacific 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.

Swire Pacific Correlation With Market

Good diversification

The correlation between Swire Pacific 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 Swire Pacific and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Swire Pink Sheet

0.64	ITOCF	ITOCHU	Pair Corr
0.74	ITOCY	Itochu Corp ADR	Pair Corr

Moving against Swire Pink Sheet

0.56	HTHIF	Hitachi	Pair Corr
0.47	MMM	3M Company	Pair Corr
0.4	HTHIY	Hitachi Ltd ADR	Pair Corr
0.32	DCGO	DocGo Inc	Pair Corr
0.69	AXSM	Axsome Therapeutics	Pair Corr
0.62	TOI	Oncology Institute Earnings Call This Week	Pair Corr
0.6	BAOB	Baraboo Bancorporation	Pair Corr
0.57	NVRO	Nevro Corp	Pair Corr
0.5	CDR-PB	Cedar Realty Trust	Pair Corr
0.49	KGC	Kinross Gold Aggressive Push	Pair Corr
0.46	CBYDF	Corby Spirit	Pair Corr
0.43	FWEDF	Fireweed Zinc	Pair Corr
0.42	TPII	Triad Pro Innovators	Pair Corr
0.32	TCTZF	Tencent Holdings Downward Rally	Pair Corr

Related Correlations Analysis

	CKHUY	MARUF	SSUMY	MARUY	CTPCY	ALPP	RJDG	APTL	WRLC	MMM
CKHUY		0.38	0.62	0.61	0.6	0.0	-0.59	-0.1	0.29	0.04	CKHUY
MARUF	0.38		0.82	0.83	0.61	0.0	-0.5	0.24	0.16	0.46	MARUF
SSUMY	0.62	0.82		0.94	0.76	0.0	-0.63	0.25	0.08	0.52	SSUMY
MARUY	0.61	0.83	0.94		0.76	0.0	-0.66	0.31	0.09	0.52	MARUY
CTPCY	0.6	0.61	0.76	0.76		0.0	-0.61	0.4	0.13	0.48	CTPCY
ALPP	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	ALPP
RJDG	-0.59	-0.5	-0.63	-0.66	-0.61	0.0		-0.19	-0.23	-0.31	RJDG
APTL	-0.1	0.24	0.25	0.31	0.4	0.0	-0.19		0.08	0.52	APTL
WRLC	0.29	0.16	0.08	0.09	0.13	0.0	-0.23	0.08		-0.07	WRLC
MMM	0.04	0.46	0.52	0.52	0.48	0.0	-0.31	0.52	-0.07		MMM
	CKHUY	MARUF	SSUMY	MARUY	CTPCY	ALPP	RJDG	APTL	WRLC	MMM

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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

MARUY	+ 0.94	SSUMY
MARUY	+ 0.83	MARUF
SSUMY	+ 0.82	MARUF
CTPCY	+ 0.76	SSUMY
CTPCY	+ 0.76	MARUY
SSUMY	+ 0.62	CKHUY

High negative correlations

RJDG	- 0.66	MARUY
RJDG	- 0.63	SSUMY
RJDG	- 0.61	CTPCY
RJDG	- 0.59	CKHUY
RJDG	- 0.5	MARUF
MMM	- 0.31	RJDG

Risk-Adjusted Indicators

There is a big difference between Swire Pink Sheet performing well and Swire Pacific 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 Swire Pacific'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
CKHUY	1.47	0.11	0.11	(0.35)	1.78	(1.72)	3.17	(2.17)	23.07
MARUF	2.56	0.32	0.09	0.60	3.20	(3.19)	5.84	(4.66)	26.10
SSUMY	1.28	0.22	0.17	0.20	1.24	(1.63)	3.18	(2.06)	8.45
MARUY	1.51	0.28	0.19	0.24	1.44	(1.78)	4.46	(2.33)	7.95
CTPCY	1.76	0.27	0.11	(3.19)	1.82	(3.92)	5.54	(3.06)	17.43
ALPP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RJDG	5.34	0.14	0.01	0.03	6.35	(9.85)	13.24	(12.00)	49.77
APTL	0.40	0.04	0.05	0.77	0.75	(1.52)	1.27	(1.35)	10.44
WRLC	1.85	(0.15)	0.00	0.79	0.00	0.00	4.38	(7.44)	18.34
MMM	1.10	0.34	0.21	0.23	1.31	(1.21)	2.58	(2.47)	9.08

Be your own money manager

Our tools can tell you how much better you can do entering a position in Swire Pacific 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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