Eversafe Rubber Correlations

0190 Stock

0.14 0.02 12.50%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Eversafe Rubber moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Eversafe Rubber Bhd moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Eversafe Rubber Correlation With Market

Good diversification

The correlation between Eversafe Rubber Bhd and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eversafe Rubber Bhd and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Eversafe Stock

0.76

5183

Petronas Chemicals

Pair Corr

Moving against Eversafe Stock

0.83	1899	Batu Kawan Bhd	Pair Corr
0.77	5168	Hartalega Holdings Bhd	Pair Corr
0.75	7153	Kossan Rubber Industries	Pair Corr
0.75	1066	RHB Bank Bhd	Pair Corr
0.58	2445	Kuala Lumpur Kepong	Pair Corr
0.49	7811	Sapura Industrial Bhd	Pair Corr
0.48	9199	Lysaght Galvanized Steel	Pair Corr
0.34	5028	HeiTech Padu Bhd	Pair Corr

Related Correlations Analysis

	0190	0029	7219	0040	3379	5310	0148	0097	4324
0190		0.16	-0.46	0.43	0.8	0.19	0.3	-0.1	0.12	0190
0029	0.16		0.02	0.15	0.05	-0.28	-0.21	0.2	-0.03	0029
7219	-0.46	0.02		-0.14	-0.4	-0.23	-0.21	0.34	-0.04	7219
0040	0.43	0.15	-0.14		0.42	-0.29	-0.14	0.53	0.0	0040
3379	0.8	0.05	-0.4	0.42		0.4	0.6	-0.08	0.32	3379
5310	0.19	-0.28	-0.23	-0.29	0.4		0.66	-0.53	0.11	5310
0148	0.3	-0.21	-0.21	-0.14	0.6	0.66		-0.31	0.21	0148
0097	-0.1	0.2	0.34	0.53	-0.08	-0.53	-0.31		0.03	0097
4324	0.12	-0.03	-0.04	0.0	0.32	0.11	0.21	0.03		4324
	0190	0029	7219	0040	3379	5310	0148	0097	4324

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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

3379	+ 0.8	0190
0148	+ 0.66	5310
0148	+ 0.6	3379
0097	+ 0.53	0040
0040	+ 0.43	0190
3379	+ 0.42	0040

High negative correlations

0097	- 0.53	5310
7219	- 0.46	0190
3379	- 0.4	7219
0097	- 0.31	0148
5310	- 0.29	0040
5310	- 0.28	0029

Risk-Adjusted Indicators

There is a big difference between Eversafe Stock performing well and Eversafe Rubber 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 Eversafe Rubber'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
0190	2.09	(0.38)	0.00	1.63	0.00	0.00	5.88	(5.88)	16.99
0029	4.05	0.19	0.01	0.73	4.91	(12.40)	10.00	(9.09)	36.67
7219	2.21	(0.04)	(0.01)	0.08	2.83	(9.21)	7.69	(7.14)	20.95
0040	0.63	(0.05)	0.00	0.34	0.00	0.00	2.78	(2.70)	5.48
3379	0.98	(0.24)	0.00	(0.57)	0.00	0.00	1.98	(2.86)	5.14
5310	1.26	0.01	(0.05)	0.18	1.30	(2.12)	2.78	(2.67)	8.15
0148	0.65	0.01	(0.04)	0.00	1.03	(3.06)	3.03	(2.94)	6.16
0097	2.14	(0.22)	0.00	(0.09)	0.00	0.00	5.22	(4.56)	12.85
4324	2.68	(0.01)	0.00	0.13	0.00	0.00	5.79	(5.12)	32.50

Be your own money manager

Our tools can tell you how much better you can do entering a position in Eversafe Rubber 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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