Batu Kawan Correlations
| 1899 Stock | 19.60 0.10 0.51% |
The current 90-days correlation between Batu Kawan Bhd and Tex Cycle Technology is -0.1 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Batu Kawan moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Batu Kawan Bhd moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Batu Kawan Correlation With Market
Average diversification
The correlation between Batu Kawan Bhd and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Batu Kawan Bhd and DJI in the same portfolio, assuming nothing else is changed.
Batu |
The ability to find closely correlated positions to Batu Kawan could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Batu Kawan 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 Batu Kawan - 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 Batu Kawan Bhd to buy it.
Moving against Batu Stock
| 0.45 | 1155 | Malayan Banking Bhd | PairCorr |
| 0.34 | 8869 | Press Metal Bhd | PairCorr |
| 0.31 | 5819 | Hong Leong Bank | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between Batu Stock performing well and Batu Kawan 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 Batu Kawan'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 0089 | 0.82 | (0.13) | 0.00 | (0.50) | 0.00 | 1.98 | 6.76 | |||
| 2542 | 1.41 | (0.13) | 0.00 | 0.93 | 0.00 | 3.99 | 20.01 | |||
| 0148 | 1.20 | (0.14) | 0.00 | 6.59 | 0.00 | 3.33 | 9.78 | |||
| 5259 | 2.13 | (0.13) | 0.00 | 0.50 | 0.00 | 3.57 | 17.56 | |||
| 0100 | 2.94 | (0.39) | 0.00 | (0.65) | 0.00 | 7.69 | 17.42 | |||
| 7087 | 1.15 | (0.24) | 0.00 | (0.95) | 0.00 | 1.76 | 10.51 | |||
| 7692 | 1.85 | (0.18) | 0.00 | 0.14 | 0.00 | 5.26 | 23.33 | |||
| 1066 | 0.59 | 0.07 | 0.17 | (0.52) | 0.67 | 1.81 | 3.92 |