Tanachira Retail Correlations

TAN Stock   7.45  0.20  2.61%   
The current 90-days correlation between Tanachira Retail and Delta Electronics Public is -0.09 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Tanachira Retail moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Tanachira Retail moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Tanachira Retail Correlation With Market

Good diversification

The correlation between Tanachira Retail and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tanachira Retail and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Tanachira Retail could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Tanachira Retail 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 Tanachira Retail - 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 Tanachira Retail to buy it.

Moving together with Tanachira Stock

  0.65AOT-R Airports of ThailandPairCorr
  0.65PTTEP-R PTT ExplorationPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
PTT-RPTT
PTTEP-RAOT-R
INTUCH-RDELTA
PTTAOT
PTT-RAOT
PTTEPAOT
  
High negative correlations   
PTTEPDELTA
PTTEPINTUCH-R
AOTDELTA
PTT-RDELTA
PTTDELTA
PTT-RDELTA-R

Risk-Adjusted Indicators

There is a big difference between Tanachira Stock performing well and Tanachira Retail 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 Tanachira Retail'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
DELTA-R  1.56  0.82  0.00 (1.99) 0.00 
 0.00 
 0.00 
DELTA  1.94  0.60  0.11 (1.81) 3.22 
 4.83 
 22.88 
AOT-R  0.66  0.10  0.00 (0.15) 0.00 
 1.17 
 31.40 
AOT  0.82  0.06 (0.05)(0.41) 0.85 
 2.07 
 5.57 
PTT  0.79 (0.07) 0.00 (1.28) 0.00 
 2.27 
 5.19 
PTT-R  0.79 (0.07) 0.00 (1.28) 0.00 
 2.27 
 5.19 
INTUCH-R  1.53  0.32  0.11  1.68  1.67 
 4.95 
 11.96 
ADVANC-R  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
PTTEP-R  0.51 (0.06) 0.00  0.36  0.00 
 0.00 
 12.11 
PTTEP  1.13 (0.12) 0.00  0.67  0.00 
 2.55 
 6.55 

Tanachira Retail 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 Tanachira Retail stock to make a market-neutral strategy. Peer analysis of Tanachira Retail could also be used in its relative valuation, which is a method of valuing Tanachira Retail by comparing valuation metrics with similar companies.
 Risk & Return  Correlation