Telekom Malaysia Correlations

4863 Stock

6.48 0.10 1.57%

The current 90-days correlation between Telekom Malaysia Bhd and Malayan Banking Bhd is -0.15 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Telekom Malaysia moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Telekom Malaysia Bhd moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Telekom Malaysia Correlation With Market

Significant diversification

The correlation between Telekom Malaysia Bhd and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Telekom Malaysia Bhd and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Telekom Stock

0.74	5053	OSK Holdings Bhd	Pair Corr
0.64	7113	Top Glove	Pair Corr
0.62	0208	Greatech Technology Bhd	Pair Corr
0.68	7106	Supermax Bhd	Pair Corr
0.66	7232	Resintech Bhd	Pair Corr

Moving against Telekom Stock

0.37

0195

Binasat Communications

Pair Corr

Related Correlations Analysis

	5263	8273	1155	0304	5216	0167	5149	0195
5263		0.31	-0.14	0.06	0.36	0.4	-0.19	0.0	5263
8273	0.31		-0.66	-0.45	0.41	0.66	-0.54	-0.42	8273
1155	-0.14	-0.66		0.55	0.06	-0.46	0.49	0.43	1155
0304	0.06	-0.45	0.55		0.16	-0.55	0.44	0.83	0304
5216	0.36	0.41	0.06	0.16		0.38	-0.31	0.05	5216
0167	0.4	0.66	-0.46	-0.55	0.38		-0.35	-0.57	0167
5149	-0.19	-0.54	0.49	0.44	-0.31	-0.35		0.4	5149
0195	0.0	-0.42	0.43	0.83	0.05	-0.57	0.4		0195
	5263	8273	1155	0304	5216	0167	5149	0195

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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

0195	+ 0.83	0304
0167	+ 0.66	8273
0304	+ 0.55	1155
5149	+ 0.49	1155
5149	+ 0.44	0304
0195	+ 0.43	1155

High negative correlations

1155	- 0.66	8273
0195	- 0.57	0167
0167	- 0.55	0304
5149	- 0.54	8273
0167	- 0.46	1155
0304	- 0.45	8273

Risk-Adjusted Indicators

There is a big difference between Telekom Stock performing well and Telekom Malaysia 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 Telekom Malaysia'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
5263	1.98	(0.29)	0.00	1.24	0.00	0.00	3.25	(7.19)	14.83
8273	1.00	0.04	0.01	(0.25)	1.04	(1.78)	2.47	(1.30)	8.72
1155	0.54	(0.07)	0.00	(0.82)	0.00	0.00	1.19	(1.17)	2.66
0304	1.25	(0.40)	0.00	(2.52)	0.00	0.00	1.89	(2.27)	9.80
5216	1.39	(0.14)	0.00	(0.81)	0.00	0.00	2.56	(2.50)	9.89
0167	3.55	0.39	0.07	(0.46)	3.10	(7.26)	10.71	(6.67)	20.95
5149	1.42	0.03	0.01	0.10	1.49	(3.18)	4.76	(3.03)	13.50
0195	1.75	(0.38)	0.00	(0.56)	0.00	0.00	5.00	(5.00)	10.82

Be your own money manager

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