MISC Bhd Correlations

3816 Stock

7.55 0.01 0.13%

The current 90-days correlation between MISC Bhd and Hengyuan Refining is -0.09 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as MISC Bhd moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if MISC Bhd moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

MISC Bhd Correlation With Market

Average diversification

The correlation between MISC Bhd and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MISC Bhd and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to MISC 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 MISC 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 MISC 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 MISC Bhd to buy it.

Moving against MISC Stock

0.84	1066	RHB Bank Bhd	Pair Corr
0.42	5014	Malaysia Airport Holdings	Pair Corr
0.42	5819	Hong Leong Bank	Pair Corr
0.37	5347	Tenaga Nasional Bhd	Pair Corr
0.35	2488	Alliance Financial	Pair Corr

Related Correlations Analysis

	0029	7219	5303	5310	0148	0097	4324	7243	1015
0029		-0.21	0.03	-0.32	-0.28	0.25	0.07	-0.26	0.07	0029
7219	-0.21		-0.2	-0.23	-0.14	0.24	0.02	0.11	0.28	7219
5303	0.03	-0.2		0.15	0.23	0.2	0.16	-0.11	-0.22	5303
5310	-0.32	-0.23	0.15		0.61	-0.56	-0.02	0.34	-0.16	5310
0148	-0.28	-0.14	0.23	0.61		-0.32	0.18	0.57	-0.36	0148
0097	0.25	0.24	0.2	-0.56	-0.32		0.08	-0.15	0.05	0097
4324	0.07	0.02	0.16	-0.02	0.18	0.08		0.34	-0.19	4324
7243	-0.26	0.11	-0.11	0.34	0.57	-0.15	0.34		-0.26	7243
1015	0.07	0.28	-0.22	-0.16	-0.36	0.05	-0.19	-0.26		1015
	0029	7219	5303	5310	0148	0097	4324	7243	1015

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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

0148	+ 0.61	5310
7243	+ 0.57	0148
7243	+ 0.34	5310
7243	+ 0.34	4324
1015	+ 0.28	7219
0097	+ 0.25	0029

High negative correlations

0097	- 0.56	5310
1015	- 0.36	0148
0097	- 0.32	0148
5310	- 0.32	0029
0148	- 0.28	0029
1015	- 0.26	7243

Risk-Adjusted Indicators

There is a big difference between MISC Stock performing well and MISC 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 MISC 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
0029	3.83	0.06	0.00	0.24	4.88	(12.73)	10.00	(9.09)	36.67
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
5310	1.22	0.03	(0.03)	(0.60)	1.24	(2.15)	2.78	(2.63)	8.11
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
1015	1.02	0.08	0.02	0.40	1.22	(1.17)	2.45	(1.93)	6.84

Be your own money manager

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