| 1295 Stock | | | 4.40 0.01 0.23% |
The current 90-days correlation between Public Bank Bhd and Malayan Banking Bhd is 0.43 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Public Bank moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Public Bank Bhd moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Public Bank Correlation With Market
Good diversification
The correlation between Public Bank Bhd and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Public Bank Bhd and DJI in the same portfolio, assuming nothing else is changed.
The ability to find closely correlated positions to Public Bank could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Public Bank 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 Public Bank - 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 Public Bank Bhd to buy it.
Moving against Public Stock
Related Correlations Analysis
Risk-Adjusted IndicatorsThere is a big difference between Public Stock performing well and Public Bank 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 Public Bank'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.
Be your own money manager
Our tools can tell you how much better you can do entering a position in Public Bank 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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