THONBURI HEALTHCARE Correlations

THG-R Stock

THB 8.90 0.17 1.95%

The current 90-days correlation between THONBURI HEALTHCARE GRO and Earth Tech Environment is 0.06 (i.e., Significant diversification). The correlation of THONBURI HEALTHCARE 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.

THONBURI HEALTHCARE Correlation With Market

Average diversification

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

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

Moving together with THONBURI Stock

0.62	BH	Bumrungrad Hospital PCL	Pair Corr
0.68	RAM	Ramkhamhaeng Hospital	Pair Corr
0.9	VIBHA	Vibhavadi Medical Center	Pair Corr
0.74	SKR	Sikarin Public	Pair Corr
0.78	CMR	Chiang Mai Ram	Pair Corr
0.81	RABBIT	Rabbit Holdings PCL	Pair Corr

Moving against THONBURI Stock

0.94	K	Kingsmen CMTI Public	Pair Corr
0.94	CIMBT	CIMB Thai Bank	Pair Corr
0.69	SCP	Southern Concrete Pile	Pair Corr
0.6	TLI	Thai Life Insurance	Pair Corr
0.42	YUASA	Yuasa Battery Public	Pair Corr

Related Correlations Analysis

	ETC	Q-CON	SVT	STECH	SMIT	BPS	BOFFICE	AH
ETC		-0.25	0.72	0.51	0.57	0.25	0.52	0.58	ETC
Q-CON	-0.25		0.03	0.07	0.03	0.37	0.13	-0.38	Q-CON
SVT	0.72	0.03		0.55	0.41	0.34	0.38	0.48	SVT
STECH	0.51	0.07	0.55		0.47	0.03	0.63	0.39	STECH
SMIT	0.57	0.03	0.41	0.47		0.29	0.67	0.06	SMIT
BPS	0.25	0.37	0.34	0.03	0.29		0.15	-0.3	BPS
BOFFICE	0.52	0.13	0.38	0.63	0.67	0.15		0.2	BOFFICE
AH	0.58	-0.38	0.48	0.39	0.06	-0.3	0.2		AH
	ETC	Q-CON	SVT	STECH	SMIT	BPS	BOFFICE	AH

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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

SVT	+ 0.72	ETC
BOFFICE	+ 0.67	SMIT
BOFFICE	+ 0.63	STECH
AH	+ 0.58	ETC
SMIT	+ 0.57	ETC
STECH	+ 0.55	SVT

High negative correlations

AH	- 0.38	Q-CON
AH	- 0.3	BPS
Q-CON	- 0.25	ETC

Risk-Adjusted Indicators

There is a big difference between THONBURI Stock performing well and THONBURI HEALTHCARE 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 THONBURI HEALTHCARE'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
ETC	2.32	(0.30)	0.00	(1.75)	0.00	0.00	4.31	(5.06)	19.01
Q-CON	1.04	0.00	0.00	(0.02)	0.00	0.00	1.71	(1.67)	4.31
SVT	1.26	(0.06)	0.00	(0.15)	0.00	0.00	2.27	(2.92)	8.00
STECH	0.99	(0.09)	0.00	(0.99)	0.00	0.00	2.04	(2.00)	4.08
SMIT	0.70	0.00	0.01	(0.02)	1.06	(1.02)	1.60	(1.05)	6.54
BPS	1.89	0.20	0.08	4.90	1.92	(3.14)	4.35	(4.08)	12.15
BOFFICE	0.44	(0.06)	0.00	0.35	0.00	0.00	1.06	(1.05)	3.71
AH	1.38	(0.32)	0.00	(0.75)	0.00	0.00	2.94	(3.41)	11.72

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Our tools can tell you how much better you can do entering a position in THONBURI HEALTHCARE 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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