Padini Holdings Correlations
| 7052 Stock | 3.28 0.07 2.18% |
The current 90-days correlation between Padini Holdings Bhd and Malayan Banking Bhd is 0.2 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Padini Holdings moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Padini Holdings Bhd moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Padini Holdings Correlation With Market
Significant diversification
The correlation between Padini Holdings Bhd and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Padini Holdings Bhd and DJI in the same portfolio, assuming nothing else is changed.
Padini |
The ability to find closely correlated positions to Padini Holdings could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Padini Holdings 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 Padini Holdings - 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 Padini Holdings Bhd to buy it.
Related Correlations Analysis
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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
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Risk-Adjusted Indicators
There is a big difference between Padini Stock performing well and Padini Holdings 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 Padini Holdings' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 1155 | 0.51 | (0.08) | 0.00 | 2.00 | 0.00 | 0.98 | 2.66 | |||
| 1295 | 0.80 | (0.03) | 0.00 | 0.36 | 0.00 | 1.79 | 6.79 | |||
| 5183 | 1.46 | (0.10) | 0.00 | 18.85 | 0.00 | 2.84 | 10.88 | |||
| 5347 | 0.83 | (0.10) | 0.00 | (0.55) | 0.00 | 2.07 | 5.63 | |||
| 5225 | 0.71 | 0.11 | 0.01 | (0.79) | 0.94 | 1.97 | 7.77 | |||
| 5819 | 0.52 | (0.05) | 0.00 | 2.26 | 0.00 | 0.98 | 3.11 | |||
| 8869 | 1.38 | 0.25 | 0.06 | (0.29) | 1.47 | 3.70 | 8.30 | |||
| 6033 | 0.42 | (0.05) | 0.00 | (1.04) | 0.00 | 0.92 | 2.86 | |||
| 3816 | 0.82 | (0.08) | 0.00 | (0.15) | 0.00 | 1.68 | 6.50 |
Padini Holdings Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Padini Holdings stock to make a market-neutral strategy. Peer analysis of Padini Holdings could also be used in its relative valuation, which is a method of valuing Padini Holdings by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |