Jaya Tiasa Correlations

4383 Stock

1.13 0.01 0.89%

The current 90-days correlation between Jaya Tiasa Holdings and Carlsberg Brewery Malaysia is -0.19 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Jaya Tiasa moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Jaya Tiasa Holdings moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Jaya Tiasa Correlation With Market

Good diversification

The correlation between Jaya Tiasa Holdings and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jaya Tiasa Holdings and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Jaya Stock

0.89	5012	Ta Ann Holdings	Pair Corr
0.73	5168	Hartalega Holdings Bhd	Pair Corr
0.63	7153	Kossan Rubber Industries	Pair Corr
0.77	1066	RHB Bank Bhd	Pair Corr

Moving against Jaya Stock

0.72	1295	Public Bank Bhd	Pair Corr
0.52	5183	Petronas Chemicals	Pair Corr
0.41	5197	Focus Lumber Bhd	Pair Corr

Related Correlations Analysis

	7100	1562	03041	2836	5819	1295	5259	9881
7100		-0.2	0.0	0.58	0.01	-0.36	-0.2	-0.69	7100
1562	-0.2		0.0	-0.28	0.12	0.18	0.46	0.16	1562
03041	0.0	0.0		0.0	0.0	0.0	0.0	0.0	03041
2836	0.58	-0.28	0.0		0.13	-0.52	-0.04	-0.54	2836
5819	0.01	0.12	0.0	0.13		0.41	0.32	-0.18	5819
1295	-0.36	0.18	0.0	-0.52	0.41		0.16	0.4	1295
5259	-0.2	0.46	0.0	-0.04	0.32	0.16		-0.08	5259
9881	-0.69	0.16	0.0	-0.54	-0.18	0.4	-0.08		9881
	7100	1562	03041	2836	5819	1295	5259	9881

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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	+ 0.58	7100
5259	+ 0.46	1562
1295	+ 0.41	5819
9881	+ 0.4	1295
5259	+ 0.32	5819
1295	+ 0.18	1562

High negative correlations

9881	- 0.69	7100
9881	- 0.54	2836
1295	- 0.52	2836
1295	- 0.36	7100
2836	- 0.28	1562
5259	- 0.2	7100

Risk-Adjusted Indicators

There is a big difference between Jaya Stock performing well and Jaya Tiasa 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 Jaya Tiasa'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
7100	0.71	0.00	(0.09)	0.13	0.75	(0.86)	1.31	(1.34)	8.16
1562	0.74	(0.10)	0.00	1.03	0.00	0.00	1.30	(1.89)	7.07
03041	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
2836	0.79	0.11	0.02	0.53	0.82	(0.89)	1.66	(1.22)	6.54
5819	0.62	0.07	(0.05)	0.96	0.57	(0.87)	1.37	(1.30)	6.40
1295	0.99	(0.01)	0.00	0.81	0.00	0.00	2.34	(2.13)	9.31
5259	0.80	(0.03)	(0.03)	0.01	1.18	(3.78)	3.33	(3.23)	9.68
9881	1.41	(0.14)	0.00	1.16	0.00	0.00	4.35	(4.55)	12.50

Be your own money manager

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