Awanbiru Technology Correlations

5204 Stock

0.31 0.01 3.13%

The current 90-days correlation between Awanbiru Technology Bhd and Kluang Rubber is -0.01 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Awanbiru Technology moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Awanbiru Technology Bhd moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Awanbiru Technology Correlation With Market

Modest diversification

The correlation between Awanbiru Technology Bhd and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Awanbiru Technology Bhd and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Awanbiru Stock

0.8	5216	Datasonic Group Bhd	Pair Corr
0.64	0050	Systech Bhd	Pair Corr
0.75	0131	Diversified Gateway	Pair Corr

Moving against Awanbiru Stock

0.6	2836	Carlsberg Brewery	Pair Corr
0.49	8621	LPI Capital Bhd	Pair Corr
0.42	3255	Heineken Bhd	Pair Corr
0.33	0132	TechnoDex Bhd	Pair Corr

Related Correlations Analysis

	2453	0091	8869	7216	2542	5139	0243	5087
2453		0.39	0.65	0.13	-0.52	0.32	0.71	0.64	2453
0091	0.39		0.3	0.26	-0.18	0.18	0.32	0.22	0091
8869	0.65	0.3		0.26	-0.46	0.24	0.6	0.52	8869
7216	0.13	0.26	0.26		0.2	0.08	0.07	-0.2	7216
2542	-0.52	-0.18	-0.46	0.2		0.04	-0.46	-0.55	2542
5139	0.32	0.18	0.24	0.08	0.04		0.41	0.26	5139
0243	0.71	0.32	0.6	0.07	-0.46	0.41		0.7	0243
5087	0.64	0.22	0.52	-0.2	-0.55	0.26	0.7		5087
	2453	0091	8869	7216	2542	5139	0243	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

0243	+ 0.71	2453
5087	+ 0.7	0243
8869	+ 0.65	2453
5087	+ 0.64	2453
0243	+ 0.6	8869
5087	+ 0.52	8869

High negative correlations

5087	- 0.55	2542
2542	- 0.52	2453
0243	- 0.46	2542
2542	- 0.46	8869
5087	- 0.2	7216
2542	- 0.18	0091

Risk-Adjusted Indicators

There is a big difference between Awanbiru Stock performing well and Awanbiru Technology 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 Awanbiru Technology'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
2453	0.68	(0.06)	0.00	(0.48)	0.00	0.00	2.25	(1.69)	5.37
0091	2.05	0.29	(0.01)	(0.04)	2.93	(8.52)	8.33	(7.69)	17.42
8869	1.47	(0.18)	0.00	(0.19)	0.00	0.00	3.66	(3.86)	8.30
7216	0.83	(0.03)	0.00	(0.89)	0.00	0.00	1.76	(2.33)	5.85
2542	0.83	0.04	(0.03)	0.66	1.17	(1.49)	2.31	(3.16)	9.91
5139	0.69	(0.06)	0.00	(0.09)	0.00	0.00	1.85	(1.43)	5.88
0243	0.89	(0.10)	0.00	(0.12)	0.00	0.00	3.85	(3.70)	8.00
5087	1.94	(0.02)	0.00	0.28	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 Awanbiru Technology 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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