Protasco Bhd Correlations

5070 Stock   0.35  0.01  2.94%   
The current 90-days correlation between Protasco Bhd and Sapura Industrial Bhd is -0.07 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Protasco Bhd moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Protasco Bhd moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Protasco Bhd Correlation With Market

Significant diversification

The correlation between Protasco Bhd and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Protasco Bhd and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Protasco 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 Protasco 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 Protasco 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 Protasco Bhd to buy it.

Moving together with Protasco Stock

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  0.690208 Greatech Technology BhdPairCorr
  0.645292 Uwc BhdPairCorr
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  0.810251 SFP Tech HoldingsPairCorr
  0.750097 ViTrox BhdPairCorr
  0.885053 OSK Holdings BhdPairCorr
  0.877106 Supermax BhdPairCorr
  0.710017 XOX Technology BhdPairCorr
  0.677232 Resintech BhdPairCorr
  0.625011 Mesiniaga BhdPairCorr
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Moving against Protasco Stock

  0.794022 Tadmax Resources BerhadPairCorr
  0.688192 Mercury Industries BhdPairCorr
  0.675296 Mr D IPairCorr
  0.565169 Ho Hup ConstructionPairCorr
  0.474707 Nestle BhdPairCorr

Related Correlations Analysis

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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   
81922569
70902569
70908192
51162569
51168192
55177811
  
High negative correlations   
70907811
25697811
81927811
51167811
70905517
55172569

Risk-Adjusted Indicators

There is a big difference between Protasco Stock performing well and Protasco 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 Protasco 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.

Be your own money manager

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