PESTECH International Correlations

5219 Stock   0.19  0.01  5.56%   
The current 90-days correlation between PESTECH International Bhd and Kobay Tech Bhd is -0.07 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as PESTECH International moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if PESTECH International Bhd moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

PESTECH International Correlation With Market

Very good diversification

The correlation between PESTECH International Bhd and DJI is -0.23 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PESTECH International Bhd and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to PESTECH International could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace PESTECH International 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 PESTECH International - 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 PESTECH International Bhd to buy it.

Moving together with PESTECH Stock

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  0.638052 Central Industrial CorpPairCorr
  0.775070 Protasco BhdPairCorr
  0.633255 Heineken BhdPairCorr
  0.620208 Greatech Technology BhdPairCorr
  0.635292 Uwc BhdPairCorr
  0.760104 Genetec Technology BhdPairCorr
  0.670251 SFP Tech HoldingsPairCorr
  0.880097 ViTrox BhdPairCorr
  0.835053 OSK Holdings BhdPairCorr
  0.97106 Supermax BhdPairCorr
  0.757232 Resintech BhdPairCorr
  0.685011 Mesiniaga BhdPairCorr
  0.617113 Top GlovePairCorr

Moving against PESTECH Stock

  0.625169 Ho Hup ConstructionPairCorr
  0.465296 Mr D IPairCorr
  0.428192 Mercury Industries BhdPairCorr
  0.344707 Nestle BhdPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between PESTECH Stock performing well and PESTECH International 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 PESTECH International'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 PESTECH International 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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