Ho Hup Correlations

5169 Stock

0.14 0.01 6.67%

The current 90-days correlation between Ho Hup Construction and Leader Steel Holdings is -0.03 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Ho Hup moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Ho Hup Construction moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Ho Hup Correlation With Market

Significant diversification

The correlation between Ho Hup Construction and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ho Hup Construction and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against 5169 Stock

0.68	7232	Resintech Bhd	Pair Corr
0.62	5219	PESTECH International Bhd	Pair Corr
0.59	0097	ViTrox Bhd	Pair Corr
0.59	7106	Supermax Bhd	Pair Corr
0.57	5053	OSK Holdings Bhd	Pair Corr
0.56	5070	Protasco Bhd	Pair Corr
0.53	8311	Pesona Metro Holdings	Pair Corr
0.4	0104	Genetec Technology Bhd	Pair Corr
0.37	3255	Heineken Bhd	Pair Corr
0.36	0208	Greatech Technology Bhd	Pair Corr
0.34	5011	Mesiniaga Bhd	Pair Corr
0.34	7113	Top Glove	Pair Corr

Related Correlations Analysis

	0250	5305	9881	7243	5284	8044	0208
0250		-0.63	0.59	-0.06	0.95	0.65	-0.59	0250
5305	-0.63		-0.65	0.29	-0.65	-0.36	0.6	5305
9881	0.59	-0.65		0.17	0.56	0.33	-0.71	9881
7243	-0.06	0.29	0.17		-0.16	-0.18	-0.11	7243
5284	0.95	-0.65	0.56	-0.16		0.67	-0.56	5284
8044	0.65	-0.36	0.33	-0.18	0.67		-0.44	8044
0208	-0.59	0.6	-0.71	-0.11	-0.56	-0.44		0208
	0250	5305	9881	7243	5284	8044	0208

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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

5284	+ 0.95	0250
8044	+ 0.67	5284
8044	+ 0.65	0250
0208	+ 0.6	5305
9881	+ 0.59	0250
5284	+ 0.56	9881

High negative correlations

0208	- 0.71	9881
5284	- 0.65	5305
9881	- 0.65	5305
5305	- 0.63	0250
0208	- 0.59	0250
0208	- 0.56	5284

Risk-Adjusted Indicators

There is a big difference between 5169 Stock performing well and Ho Hup 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 Ho Hup'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
0250	1.01	(0.16)	0.00	0.27	0.00	0.00	4.00	(4.00)	8.17
5305	1.50	0.08	0.02	9.90	1.75	(4.23)	4.17	(3.85)	11.40
9881	1.29	(0.07)	0.00	0.11	0.00	0.00	2.50	(4.55)	16.34
7243	2.00	0.05	0.00	(0.10)	2.34	(5.13)	4.76	(4.55)	13.87
5284	1.96	(0.79)	0.00	0.84	0.00	0.00	4.26	(5.33)	11.83
8044	1.93	(0.34)	0.00	(1.39)	0.00	0.00	9.09	(8.33)	17.42
0208	1.59	0.21	0.10	(1.60)	1.61	(2.10)	3.41	(3.46)	13.85

Be your own money manager

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