Icon Offshore Correlations

5255 Stock

1.00 0.01 1.01%

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

Icon Offshore Correlation With Market

Good diversification

The correlation between Icon Offshore Bhd and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Icon Offshore Bhd and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Icon Stock

0.73	0104	Genetec Technology Bhd	Pair Corr
0.68	6432	Apollo Food Holdings	Pair Corr
0.65	5219	PESTECH International Bhd	Pair Corr
0.56	5292	Uwc Bhd	Pair Corr
0.5	1899	Batu Kawan Bhd	Pair Corr

Related Correlations Analysis

	7107	1295	7217	5183	0201	2488	5116	5139
7107		0.23	0.6	0.38	0.65	-0.7	0.64	0.83	7107
1295	0.23		0.26	0.23	0.4	-0.35	0.17	0.07	1295
7217	0.6	0.26		0.39	0.63	-0.7	0.48	0.73	7217
5183	0.38	0.23	0.39		0.35	-0.65	0.43	0.36	5183
0201	0.65	0.4	0.63	0.35		-0.67	0.63	0.72	0201
2488	-0.7	-0.35	-0.7	-0.65	-0.67		-0.67	-0.71	2488
5116	0.64	0.17	0.48	0.43	0.63	-0.67		0.62	5116
5139	0.83	0.07	0.73	0.36	0.72	-0.71	0.62		5139
	7107	1295	7217	5183	0201	2488	5116	5139

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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

5139	+ 0.83	7107
5139	+ 0.73	7217
5139	+ 0.72	0201
0201	+ 0.65	7107
5116	+ 0.64	7107
0201	+ 0.63	7217

High negative correlations

5139	- 0.71	2488
2488	- 0.7	7217
2488	- 0.7	7107
5116	- 0.67	2488
2488	- 0.67	0201
2488	- 0.65	5183

Risk-Adjusted Indicators

There is a big difference between Icon Stock performing well and Icon Offshore 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 Icon Offshore'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
7107	1.40	(0.15)	0.00	(1.38)	0.00	0.00	2.52	(2.45)	8.39
1295	0.68	(0.05)	0.00	(0.31)	0.00	0.00	1.36	(1.36)	4.92
7217	2.04	(0.19)	0.00	0.84	0.00	0.00	6.45	(6.67)	20.39
5183	1.58	(0.24)	0.00	(1.60)	0.00	0.00	3.00	(4.02)	11.82
0201	1.38	(0.20)	0.00	17.92	0.00	0.00	2.33	(2.44)	9.10
2488	1.04	0.18	0.12	0.39	0.90	(1.24)	2.46	(1.82)	11.31
5116	0.75	(0.11)	0.00	0.42	0.00	0.00	1.48	(1.46)	5.95
5139	0.69	(0.29)	0.00	(1.38)	0.00	0.00	1.60	(1.62)	5.06

Be your own money manager

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