Heineken Bhd Correlations

3255 Stock

24.70 0.20 0.82%

The current 90-days correlation between Heineken Bhd and Carlsberg Brewery Malaysia is 0.66 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Heineken Bhd moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Heineken Bhd moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Heineken Bhd Correlation With Market

Significant diversification

The correlation between Heineken Bhd and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Heineken Bhd and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Heineken Stock

0.78	2836	Carlsberg Brewery	Pair Corr
0.65	7106	Supermax Bhd	Pair Corr
0.63	5053	OSK Holdings Bhd	Pair Corr
0.73	0251	SFP Tech Holdings	Pair Corr
0.65	0017	XOX Technology Bhd	Pair Corr
0.79	0104	Genetec Technology Bhd	Pair Corr

Moving against Heineken Stock

0.69	1155	Malayan Banking Bhd	Pair Corr
0.56	3816	MISC Bhd	Pair Corr
0.45	5183	Petronas Chemicals	Pair Corr
0.39	5225	IHH Healthcare Bhd	Pair Corr
0.34	5819	Hong Leong Bank	Pair Corr

Related Correlations Analysis

	3255	2836	5306	0029	5238	5191	5303	3379	5310	6173
3255		0.78	-0.05	-0.24	0.01	-0.26	-0.68	-0.44	0.61	-0.1	3255
2836	0.78		0.04	-0.22	0.36	-0.52	-0.79	-0.56	0.5	-0.12	2836
5306	-0.05	0.04		-0.02	-0.06	0.02	0.04	-0.18	-0.02	0.12	5306
0029	-0.24	-0.22	-0.02		0.11	-0.21	0.32	0.09	-0.44	0.07	0029
5238	0.01	0.36	-0.06	0.11		-0.4	-0.32	-0.41	-0.26	0.16	5238
5191	-0.26	-0.52	0.02	-0.21	-0.4		0.43	0.58	0.07	-0.1	5191
5303	-0.68	-0.79	0.04	0.32	-0.32	0.43		0.7	-0.43	0.13	5303
3379	-0.44	-0.56	-0.18	0.09	-0.41	0.58	0.7		0.01	-0.01	3379
5310	0.61	0.5	-0.02	-0.44	-0.26	0.07	-0.43	0.01		-0.06	5310
6173	-0.1	-0.12	0.12	0.07	0.16	-0.1	0.13	-0.01	-0.06		6173
	3255	2836	5306	0029	5238	5191	5303	3379	5310	6173

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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

2836	+ 0.78	3255
3379	+ 0.7	5303
5310	+ 0.61	3255
3379	+ 0.58	5191
5310	+ 0.5	2836
5303	+ 0.43	5191

High negative correlations

5303	- 0.79	2836
5303	- 0.68	3255
3379	- 0.56	2836
5191	- 0.52	2836
5310	- 0.44	0029
3379	- 0.44	3255

Risk-Adjusted Indicators

There is a big difference between Heineken Stock performing well and Heineken Bhd 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 Heineken Bhd'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
3255	0.82	0.09	0.07	2.01	0.95	(1.04)	2.50	(1.28)	10.35
2836	0.61	0.03	0.01	0.52	0.72	(0.74)	1.31	(1.18)	6.51
5306	1.03	0.06	0.03	0.82	1.14	(1.25)	2.23	(2.16)	6.12
0029	2.44	0.00	0.00	0.03	0.00	0.00	10.00	(9.09)	36.67
5238	1.74	0.08	0.02	(0.10)	1.93	(2.28)	4.30	(3.54)	12.87
5191	0.80	(0.01)	0.00	0.05	0.00	0.00	1.16	(2.27)	6.59
5303	1.06	(0.12)	0.00	(1.57)	0.00	0.00	2.33	(2.22)	10.42
3379	0.90	(0.14)	0.00	0.68	0.00	0.00	1.11	(2.20)	5.27
5310	0.87	0.00	(0.01)	0.00	1.18	(1.70)	1.43	(2.67)	6.74
6173	1.08	0.01	0.00	0.08	1.56	(4.48)	3.57	(3.45)	13.81

Be your own money manager

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