Star Media Correlations

6084 Stock

0.41 0.01 2.38%

The current 90-days correlation between Star Media Group and Malaysia Steel Works is 0.01 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Star Media moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Star Media Group moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Star Media Correlation With Market

Good diversification

The correlation between Star Media Group and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Star Media Group and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Star Stock

0.77

3816

MISC Bhd

Pair Corr

Moving against Star Stock

0.56	5168	Hartalega Holdings Bhd	Pair Corr
0.44	1899	Batu Kawan Bhd	Pair Corr
0.4	5285	Sime Darby Plantation	Pair Corr
0.39	0122	Advance Information	Pair Corr

Related Correlations Analysis

	5098	7090	0201	8052	5094	0250	0283	8192
5098		0.61	0.24	-0.13	0.33	0.52	0.6	0.07	5098
7090	0.61		-0.01	-0.23	0.27	0.71	0.46	0.2	7090
0201	0.24	-0.01		-0.28	0.48	0.4	0.47	-0.19	0201
8052	-0.13	-0.23	-0.28		0.05	-0.35	-0.27	-0.29	8052
5094	0.33	0.27	0.48	0.05		0.35	0.44	-0.47	5094
0250	0.52	0.71	0.4	-0.35	0.35		0.55	0.31	0250
0283	0.6	0.46	0.47	-0.27	0.44	0.55		-0.04	0283
8192	0.07	0.2	-0.19	-0.29	-0.47	0.31	-0.04		8192
	5098	7090	0201	8052	5094	0250	0283	8192

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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

0250	+ 0.71	7090
7090	+ 0.61	5098
0283	+ 0.6	5098
0283	+ 0.55	0250
0250	+ 0.52	5098
5094	+ 0.48	0201

High negative correlations

8192	- 0.47	5094
0250	- 0.35	8052
8192	- 0.29	8052
8052	- 0.28	0201
0283	- 0.27	8052
8052	- 0.23	7090

Risk-Adjusted Indicators

There is a big difference between Star Stock performing well and Star Media 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 Star Media'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
5098	1.15	(0.13)	0.00	2.02	0.00	0.00	3.13	(3.12)	6.46
7090	0.67	(0.07)	0.00	4.30	0.00	0.00	1.48	(1.46)	4.08
0201	1.67	(0.11)	0.00	0.61	0.00	0.00	4.44	(4.35)	12.33
8052	1.28	0.14	0.01	0.72	2.29	(4.01)	1.22	(1.20)	46.90
5094	0.79	(0.11)	0.00	(0.77)	0.00	0.00	1.68	(1.64)	4.99
0250	0.94	(0.08)	0.00	0.24	0.00	0.00	3.70	(3.57)	7.55
0283	2.32	(0.32)	0.00	(4.26)	0.00	0.00	6.25	(5.88)	20.00
8192	1.44	(0.03)	0.00	0.19	0.00	0.00	5.10	(3.88)	12.00

Be your own money manager

Our tools can tell you how much better you can do entering a position in Star Media 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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