OSK Holdings Correlations

5053 Stock

1.62 0.01 0.62%

The current 90-days correlation between OSK Holdings Bhd and ViTrox Bhd is 0.11 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as OSK Holdings moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if OSK Holdings Bhd moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

OSK Holdings Correlation With Market

Average diversification

The correlation between OSK Holdings Bhd and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding OSK Holdings Bhd and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against OSK Stock

0.42	1295	Public Bank Bhd	Pair Corr
0.4	6033	Petronas Gas Bhd	Pair Corr
0.39	4057	Asian Pac Holdings	Pair Corr
0.34	4162	British American Tobacco	Pair Corr

Related Correlations Analysis

	5053	7219	5303	3379	6173	0148	0097	4324	7243	1015
5053		0.18	-0.1	-0.06	-0.72	0.29	0.12	0.31	0.45	0.29	5053
7219	0.18		-0.09	-0.33	-0.31	-0.12	0.39	0.06	0.1	0.15	7219
5303	-0.1	-0.09		0.74	0.37	0.42	0.0	0.28	-0.07	-0.49	5303
3379	-0.06	-0.33	0.74		0.39	0.71	-0.3	0.36	0.18	-0.57	3379
6173	-0.72	-0.31	0.37	0.39		0.03	-0.02	-0.34	-0.39	-0.22	6173
0148	0.29	-0.12	0.42	0.71	0.03		-0.24	0.38	0.55	-0.59	0148
0097	0.12	0.39	0.0	-0.3	-0.02	-0.24		0.0	-0.11	0.33	0097
4324	0.31	0.06	0.28	0.36	-0.34	0.38	0.0		0.34	-0.3	4324
7243	0.45	0.1	-0.07	0.18	-0.39	0.55	-0.11	0.34		-0.22	7243
1015	0.29	0.15	-0.49	-0.57	-0.22	-0.59	0.33	-0.3	-0.22		1015
	5053	7219	5303	3379	6173	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

3379	+ 0.74	5303
0148	+ 0.71	3379
7243	+ 0.55	0148
7243	+ 0.45	5053
0148	+ 0.42	5303
0097	+ 0.39	7219

High negative correlations

6173	- 0.72	5053
1015	- 0.59	0148
1015	- 0.57	3379
1015	- 0.49	5303
7243	- 0.39	6173
4324	- 0.34	6173

Risk-Adjusted Indicators

There is a big difference between OSK Stock performing well and OSK Holdings 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 OSK Holdings' 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
5053	0.98	0.05	(0.04)	0.46	1.01	(1.24)	2.52	(1.89)	5.76
7219	2.21	0.15	(0.01)	(0.15)	2.83	(9.21)	7.69	(7.14)	20.95
5303	0.91	(0.11)	0.00	(0.77)	0.00	0.00	2.13	(2.08)	10.46
3379	0.94	0.00	0.00	0.00	0.00	0.00	1.98	(2.11)	5.14
6173	1.67	(0.27)	0.00	(6.14)	0.00	0.00	3.57	(5.88)	13.81
0148	0.72	(0.04)	0.00	0.61	0.00	0.00	3.03	(3.03)	6.25
0097	2.20	(0.28)	0.00	(0.16)	0.00	0.00	5.22	(4.79)	13.37
4324	2.68	0.03	0.00	0.10	0.00	0.00	5.79	(4.38)	32.50
7243	2.56	0.12	0.00	3.52	2.67	(5.42)	5.00	(4.76)	19.05
1015	0.99	0.05	(0.05)	1.45	1.23	(1.16)	2.81	(2.19)	6.84

Be your own money manager

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