Kobay Tech Correlations

6971 Stock

1.26 0.02 1.56%

The current 90-days correlation between Kobay Tech Bhd and Greatech Technology Bhd is 0.02 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Kobay Tech moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Kobay Tech Bhd moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Kobay Tech Correlation With Market

Good diversification

The correlation between Kobay Tech Bhd and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kobay Tech Bhd and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Kobay Stock

0.68	0208	Greatech Technology Bhd Split	Pair Corr
0.9	0104	Genetec Technology Bhd	Pair Corr
0.92	7233	Dufu Tech Corp	Pair Corr
0.9	0146	JF Technology BHD	Pair Corr
0.71	5797	Choo Bee Metal	Pair Corr

Moving against Kobay Stock

0.42	0132	TechnoDex Bhd	Pair Corr
0.34	8621	LPI Capital Bhd	Pair Corr

Related Correlations Analysis

	0208	5292	0104	7095	7233	0001	6971	0146	7076
0208		0.51	0.69	0.05	0.73	-0.34	0.68	0.76	0.44	0208
5292	0.51		0.44	0.66	0.19	-0.64	0.26	0.16	0.24	5292
0104	0.69	0.44		0.22	0.83	-0.13	0.9	0.8	0.18	0104
7095	0.05	0.66	0.22		-0.06	-0.43	-0.01	-0.15	0.16	7095
7233	0.73	0.19	0.83	-0.06		0.0	0.92	0.9	0.3	7233
0001	-0.34	-0.64	-0.13	-0.43	0.0		-0.07	-0.13	-0.46	0001
6971	0.68	0.26	0.9	-0.01	0.92	-0.07		0.9	0.19	6971
0146	0.76	0.16	0.8	-0.15	0.9	-0.13	0.9		0.27	0146
7076	0.44	0.24	0.18	0.16	0.3	-0.46	0.19	0.27		7076
	0208	5292	0104	7095	7233	0001	6971	0146	7076

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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

6971	+ 0.92	7233
6971	+ 0.9	0104
0146	+ 0.9	7233
0146	+ 0.9	6971
7233	+ 0.83	0104
0146	+ 0.8	0104

High negative correlations

0001	- 0.64	5292
7076	- 0.46	0001
0001	- 0.43	7095
0001	- 0.34	0208
0146	- 0.15	7095
0146	- 0.13	0001

Risk-Adjusted Indicators

There is a big difference between Kobay Stock performing well and Kobay Tech 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 Kobay Tech'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
0208	2.00	(0.30)	0.00	(0.48)	0.00	0.00	4.08	(4.19)	13.85
5292	2.76	(0.08)	(0.01)	0.03	3.79	(3.31)	7.50	(4.59)	17.51
0104	3.64	(1.18)	0.00	(0.25)	0.00	0.00	5.26	(8.55)	45.21
7095	1.43	0.05	(0.01)	0.24	1.71	(1.78)	2.94	(3.41)	8.96
7233	1.60	(0.33)	0.00	(0.53)	0.00	0.00	4.30	(2.81)	11.09
0001	1.14	(0.07)	0.00	(0.50)	0.00	0.00	2.40	(3.12)	9.80
6971	2.54	(0.71)	0.00	2.01	0.00	0.00	5.56	(6.45)	15.23
0146	1.56	(0.47)	0.00	(0.57)	0.00	0.00	3.23	(3.23)	13.35
7076	1.24	0.04	(0.04)	(0.17)	1.32	(1.68)	2.34	(2.26)	6.79

Be your own money manager

Our tools can tell you how much better you can do entering a position in Kobay Tech 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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