Tariq CorpPref Correlations

TCORPCPS

7.00 0.47 6.29%

The current 90-days correlation between Tariq CorpPref and Clover Pakistan is 0.01 (i.e., Significant diversification). The correlation of Tariq CorpPref 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.

Tariq CorpPref Correlation With Market

Good diversification

The correlation between Tariq CorpPref and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tariq CorpPref and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Tariq Stock

0.82	HBL	Habib Bank	Pair Corr
0.8	AKBL	Askari Bank	Pair Corr
0.79	KAPCO	KOT Addu Power	Pair Corr
0.79	LOADS	Loads	Pair Corr
0.75	FFL	Fauji Foods	Pair Corr
0.73	ENGRO	Engro	Pair Corr
0.72	ACIETF	Alfalah Consumer	Pair Corr
0.72	WTL	WorldCall Telecom	Pair Corr
0.71	MTL	Millat Tractors	Pair Corr
0.65	AGP	AGP	Pair Corr
0.64	PSO	Pakistan State Oil	Pair Corr
0.63	MARI	Mari Petroleum	Pair Corr
0.57	AICL	Adamjee Insurance	Pair Corr
0.56	CLOV	Clover Pakistan	Pair Corr
0.55	OGDC	Oil and Gas	Pair Corr
0.53	NBP	National Bank	Pair Corr
0.43	EFERT	Engro Fertilizers	Pair Corr

Related Correlations Analysis

	CLOV	NBP	WTL	MARI	ENGRO	MTL	ACIETF	HBL	FFL	AICL
CLOV		0.65	0.88	0.79	0.86	0.86	0.81	0.7	0.82	0.85	CLOV
NBP	0.65		0.55	0.41	0.51	0.49	0.44	0.75	0.55	0.43	NBP
WTL	0.88	0.55		0.94	0.97	0.9	0.91	0.76	0.9	0.9	WTL
MARI	0.79	0.41	0.94		0.93	0.81	0.85	0.62	0.81	0.86	MARI
ENGRO	0.86	0.51	0.97	0.93		0.91	0.91	0.75	0.89	0.89	ENGRO
MTL	0.86	0.49	0.9	0.81	0.91		0.92	0.74	0.9	0.89	MTL
ACIETF	0.81	0.44	0.91	0.85	0.91	0.92		0.78	0.96	0.95	ACIETF
HBL	0.7	0.75	0.76	0.62	0.75	0.74	0.78		0.87	0.7	HBL
FFL	0.82	0.55	0.9	0.81	0.89	0.9	0.96	0.87		0.93	FFL
AICL	0.85	0.43	0.9	0.86	0.89	0.89	0.95	0.7	0.93		AICL
	CLOV	NBP	WTL	MARI	ENGRO	MTL	ACIETF	HBL	FFL	AICL

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Risk-Adjusted Indicators

There is a big difference between Tariq Stock performing well and Tariq CorpPref 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 Tariq CorpPref'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
CLOV	2.13	0.26	0.08	23.18	2.39	(2.67)	5.90	(3.77)	19.72
NBP	2.35	0.12	0.02	0.51	3.61	(2.30)	3.96	(6.75)	19.71
WTL	2.91	0.64	0.14	(0.85)	3.11	(4.31)	8.48	(5.84)	21.17
MARI	2.93	0.90	0.21	(0.54)	3.07	(3.43)	9.62	(5.08)	19.94
ENGRO	1.89	0.50	0.26	2.53	1.47	(2.36)	6.14	(3.10)	14.34
MTL	1.32	0.20	0.13	0.97	1.11	(1.70)	2.90	(2.18)	9.26
ACIETF	1.80	0.57	0.19	(0.86)	1.80	(2.20)	4.46	(3.68)	15.41
HBL	1.95	0.38	0.17	4.82	1.80	(2.39)	4.98	(4.04)	14.47
FFL	2.65	0.83	0.32	1.17	2.00	(3.75)	8.45	(4.06)	18.32
AICL	2.40	0.66	0.31	4.66	1.64	(3.17)	6.70	(3.45)	14.68

Tariq CorpPref 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 Tariq CorpPref stock to make a market-neutral strategy. Peer analysis of Tariq CorpPref could also be used in its relative valuation, which is a method of valuing Tariq CorpPref by comparing valuation metrics with similar companies.

Clover Pakistan National Bank of WorldCall Telecom Mari Petroleum Engro Millat Tractors Alfalah Consumer Habib Bank Fauji Foods Adamjee Insurance American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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