Alliance Financial Correlations

2488 Stock

4.97 0.04 0.80%

The current 90-days correlation between Alliance Financial and Aeon Credit Service is -0.1 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Alliance Financial moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Alliance Financial Group moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Alliance Financial Correlation With Market

Average diversification

The correlation between Alliance Financial Group and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alliance Financial Group and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Alliance Stock

0.73	6888	Axiata Group Bhd	Pair Corr
0.46	1295	Public Bank Bhd	Pair Corr
0.42	5139	Aeon Credit Service	Pair Corr
0.39	1155	Malayan Banking Bhd	Pair Corr
0.35	3816	MISC Bhd	Pair Corr

Related Correlations Analysis

	2488	5139	7219	5303	0148	0097	4324	7243	5255	7087
2488		-0.42	0.39	-0.62	-0.29	0.23	-0.06	0.26	-0.52	0.24	2488
5139	-0.42		-0.34	0.19	0.32	-0.25	-0.21	-0.21	0.43	0.14	5139
7219	0.39	-0.34		-0.2	-0.14	0.24	0.02	0.11	-0.35	0.04	7219
5303	-0.62	0.19	-0.2		0.23	0.2	0.16	-0.11	0.18	-0.34	5303
0148	-0.29	0.32	-0.14	0.23		-0.32	0.18	0.57	-0.04	0.13	0148
0097	0.23	-0.25	0.24	0.2	-0.32		0.08	-0.15	-0.3	-0.67	0097
4324	-0.06	-0.21	0.02	0.16	0.18	0.08		0.34	-0.37	-0.36	4324
7243	0.26	-0.21	0.11	-0.11	0.57	-0.15	0.34		-0.43	0.16	7243
5255	-0.52	0.43	-0.35	0.18	-0.04	-0.3	-0.37	-0.43		0.1	5255
7087	0.24	0.14	0.04	-0.34	0.13	-0.67	-0.36	0.16	0.1		7087
	2488	5139	7219	5303	0148	0097	4324	7243	5255	7087

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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

7243	+ 0.57	0148
5255	+ 0.43	5139
7219	+ 0.39	2488
7243	+ 0.34	4324
0148	+ 0.32	5139
7243	+ 0.26	2488

High negative correlations

7087	- 0.67	0097
5303	- 0.62	2488
5255	- 0.52	2488
5255	- 0.43	7243
5139	- 0.42	2488
5255	- 0.37	4324

Risk-Adjusted Indicators

There is a big difference between Alliance Stock performing well and Alliance Financial 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 Alliance Financial'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
2488	1.11	0.20	0.10	0.55	1.08	(1.32)	2.99	(2.17)	9.50
5139	0.72	(0.07)	0.00	(0.14)	0.00	0.00	1.85	(1.58)	5.88
7219	2.21	0.02	0.00	0.11	2.83	(9.21)	7.69	(7.14)	20.95
5303	1.01	(0.12)	0.00	1.76	0.00	0.00	2.13	(2.08)	10.46
0148	0.71	(0.04)	0.00	0.45	0.00	0.00	3.03	(3.03)	6.16
0097	2.01	(0.28)	0.00	(0.22)	0.00	0.00	4.55	(4.56)	12.85
4324	2.67	(0.05)	0.00	0.15	0.00	0.00	5.79	(5.12)	32.50
7243	2.43	0.16	0.01	(0.32)	2.57	(5.48)	5.00	(4.76)	19.05
5255	2.19	0.17	0.02	(0.41)	2.28	(3.15)	5.61	(5.17)	15.38
7087	0.89	0.21	0.08	(0.47)	0.72	(1.31)	1.65	(1.22)	15.58

Be your own money manager

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