UNIQUE Correlations

0257 Stock

0.40 0.01 2.56%

The current 90-days correlation between UNIQUE and Malayan Banking Bhd is 0.14 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as UNIQUE moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if UNIQUE moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

UNIQUE Correlation With Market

Significant diversification

The correlation between UNIQUE and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding UNIQUE and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against UNIQUE Stock

0.55	1295	Public Bank Bhd	Pair Corr
0.51	5819	Hong Leong Bank	Pair Corr
0.48	1155	Malayan Banking Bhd	Pair Corr
0.39	5183	Petronas Chemicals	Pair Corr
0.36	5347	Tenaga Nasional Bhd	Pair Corr

Related Correlations Analysis

	1155	1295	5183	5347	5225	5819	8869	6033	3816
1155		0.53	0.4	0.69	0.25	0.63	-0.1	0.03	-0.14	1155
1295	0.53		0.42	0.38	-0.43	0.39	0.16	0.63	0.46	1295
5183	0.4	0.42		0.03	-0.3	0.2	0.69	0.45	0.3	5183
5347	0.69	0.38	0.03		0.36	0.75	-0.34	0.02	-0.29	5347
5225	0.25	-0.43	-0.3	0.36		0.38	-0.43	-0.78	-0.84	5225
5819	0.63	0.39	0.2	0.75	0.38		-0.19	0.07	-0.36	5819
8869	-0.1	0.16	0.69	-0.34	-0.43	-0.19		0.49	0.57	8869
6033	0.03	0.63	0.45	0.02	-0.78	0.07	0.49		0.79	6033
3816	-0.14	0.46	0.3	-0.29	-0.84	-0.36	0.57	0.79		3816
	1155	1295	5183	5347	5225	5819	8869	6033	3816

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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

3816	+ 0.79	6033
5819	+ 0.75	5347
5347	+ 0.69	1155
8869	+ 0.69	5183
5819	+ 0.63	1155
6033	+ 0.63	1295

High negative correlations

3816	- 0.84	5225
6033	- 0.78	5225
8869	- 0.43	5225
5225	- 0.43	1295
3816	- 0.36	5819
8869	- 0.34	5347

Risk-Adjusted Indicators

There is a big difference between UNIQUE Stock performing well and UNIQUE 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 UNIQUE'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
1155	0.58	(0.03)	0.00	(1.93)	0.00	0.00	1.14	(1.33)	3.17
1295	0.99	(0.05)	0.00	1.04	0.00	0.00	2.34	(2.13)	9.31
5183	1.51	(0.19)	0.00	(0.46)	0.00	0.00	2.84	(3.45)	12.76
5347	0.81	0.02	(0.09)	0.00	0.99	(1.08)	2.13	(2.08)	7.60
5225	0.68	0.21	0.13	(1.74)	0.38	(0.94)	2.10	(1.24)	5.87
5819	0.60	0.05	(0.06)	2.60	0.60	(0.82)	1.06	(1.30)	6.40
8869	1.45	(0.18)	0.00	(0.22)	0.00	0.00	3.66	(3.86)	8.30
6033	0.41	(0.06)	0.00	(0.47)	0.00	0.00	0.78	(0.90)	2.15
3816	0.92	(0.22)	0.00	(0.63)	0.00	0.00	1.67	(2.19)	6.56

Be your own money manager

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