CSC Steel Correlations

5094 Stock

1.19 0.01 0.83%

The current 90-days correlation between CSC Steel Holdings and PMB Technology Bhd is -0.14 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as CSC Steel moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if CSC Steel Holdings moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

CSC Steel Correlation With Market

Significant diversification

The correlation between CSC Steel Holdings and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CSC Steel Holdings and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with CSC Stock

0.74	5125	Pantech Group Holdings	Pair Corr
0.68	0240	Coraza Integrated	Pair Corr
0.62	5797	Choo Bee Metal	Pair Corr
0.73	7217	Eonmetall Group Bhd	Pair Corr
0.71	5087	Mycron Steel Bhd	Pair Corr

Related Correlations Analysis

	8869	7172	5125	5094	0240	5665	5098	7217	5087
8869		0.21	0.49	0.43	0.47	-0.44	0.76	0.44	0.59	8869
7172	0.21		0.47	0.34	0.13	-0.32	0.1	0.51	0.38	7172
5125	0.49	0.47		0.74	0.48	0.0	0.48	0.55	0.67	5125
5094	0.43	0.34	0.74		0.68	-0.05	0.41	0.73	0.71	5094
0240	0.47	0.13	0.48	0.68		0.0	0.34	0.52	0.55	0240
5665	-0.44	-0.32	0.0	-0.05	0.0		-0.26	-0.31	-0.31	5665
5098	0.76	0.1	0.48	0.41	0.34	-0.26		0.39	0.53	5098
7217	0.44	0.51	0.55	0.73	0.52	-0.31	0.39		0.75	7217
5087	0.59	0.38	0.67	0.71	0.55	-0.31	0.53	0.75		5087
	8869	7172	5125	5094	0240	5665	5098	7217	5087

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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

5098	+ 0.76	8869
5087	+ 0.75	7217
5094	+ 0.74	5125
7217	+ 0.73	5094
5087	+ 0.71	5094
0240	+ 0.68	5094

High negative correlations

5665	- 0.44	8869
5665	- 0.32	7172
5087	- 0.31	5665
7217	- 0.31	5665
5098	- 0.26	5665
5665	- 0.05	5094

Risk-Adjusted Indicators

There is a big difference between CSC Stock performing well and CSC Steel 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 CSC Steel'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
8869	1.45	(0.18)	0.00	(0.22)	0.00	0.00	3.66	(3.86)	8.30
7172	2.49	(0.04)	0.00	(2.02)	0.00	0.00	6.42	(6.07)	17.05
5125	0.70	(0.10)	0.00	(0.45)	0.00	0.00	1.09	(2.02)	4.19
5094	0.80	(0.12)	0.00	(0.80)	0.00	0.00	1.68	(1.64)	4.99
0240	1.77	(0.19)	0.00	(0.21)	0.00	0.00	5.00	(2.56)	10.13
5665	2.48	0.18	0.02	(1.94)	2.73	(4.49)	6.12	(5.77)	15.56
5098	1.24	(0.14)	0.00	(3.13)	0.00	0.00	3.13	(3.12)	6.46
7217	2.17	(0.33)	0.00	(0.23)	0.00	0.00	6.45	(5.71)	17.65
5087	2.03	(0.10)	0.00	0.93	0.00	0.00	5.41	(5.00)	19.29

Be your own money manager

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