Sime Darby Correlations

4197 Stock

2.17 0.01 0.46%

The current 90-days correlation between Sime Darby Bhd and Nexgram Holdings Bhd is -0.12 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Sime Darby moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Sime Darby Bhd moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Sime Darby Correlation With Market

Modest diversification

The correlation between Sime Darby Bhd and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sime Darby Bhd and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Sime Stock

0.65	1295	Public Bank Bhd	Pair Corr
0.68	6888	Axiata Group Bhd	Pair Corr

Moving against Sime Stock

0.68	2488	Alliance Financial	Pair Corr
0.54	0084	Techfast Holdings Bhd	Pair Corr
0.47	1562	Sports Toto Berhad	Pair Corr
0.31	7811	Sapura Industrial Bhd	Pair Corr

Related Correlations Analysis

	4197	0096	0084	0029	5238	5191	5303	3379	5310	6173
4197		-0.25	-0.54	-0.13	0.4	-0.01	0.33	0.6	0.0	-0.29	4197
0096	-0.25		0.05	0.31	-0.06	-0.19	-0.15	-0.2	-0.04	0.06	0096
0084	-0.54	0.05		0.05	-0.19	0.3	-0.04	-0.22	0.08	0.37	0084
0029	-0.13	0.31	0.05		0.08	-0.22	0.25	-0.04	-0.47	0.19	0029
5238	0.4	-0.06	-0.19	0.08		-0.34	-0.09	-0.1	-0.15	-0.18	5238
5191	-0.01	-0.19	0.3	-0.22	-0.34		0.22	0.35	0.0	0.13	5191
5303	0.33	-0.15	-0.04	0.25	-0.09	0.22		0.54	-0.55	0.1	5303
3379	0.6	-0.2	-0.22	-0.04	-0.1	0.35	0.54		-0.05	0.01	3379
5310	0.0	-0.04	0.08	-0.47	-0.15	0.0	-0.55	-0.05		-0.17	5310
6173	-0.29	0.06	0.37	0.19	-0.18	0.13	0.1	0.01	-0.17		6173
	4197	0096	0084	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

3379	+ 0.6	4197
3379	+ 0.54	5303
5238	+ 0.4	4197
6173	+ 0.37	0084
3379	+ 0.35	5191
5303	+ 0.33	4197

High negative correlations

5310	- 0.55	5303
0084	- 0.54	4197
5310	- 0.47	0029
5191	- 0.34	5238
6173	- 0.29	4197
0096	- 0.25	4197

Risk-Adjusted Indicators

There is a big difference between Sime Stock performing well and Sime Darby 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 Sime Darby'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
4197	1.18	(0.19)	0.00	(0.30)	0.00	0.00	2.56	(2.26)	7.82
0096	11.57	1.77	0.05	(0.52)	11.83	(33.33)	33.33	(25.00)	58.33
0084	2.94	0.24	0.02	(45.97)	3.63	(9.08)	9.09	(8.33)	30.00
0029	2.97	0.07	0.01	0.17	4.06	(11.03)	10.00	(9.09)	36.67
5238	1.70	(0.16)	0.00	(0.28)	0.00	0.00	4.30	(4.26)	11.88
5191	0.84	(0.01)	(0.05)	(0.02)	1.13	(1.33)	1.16	(2.27)	6.59
5303	1.07	(0.13)	0.00	(0.95)	0.00	0.00	2.33	(2.22)	8.33
3379	0.85	(0.13)	0.00	(0.36)	0.00	0.00	1.11	(2.17)	4.40
5310	0.83	0.02	(0.05)	0.01	1.05	(1.72)	1.43	(2.67)	6.78
6173	1.26	0.15	0.01	(0.38)	1.55	(4.29)	3.57	(3.45)	13.81

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