Apex Healthcare Correlations

7090 Stock

2.38 0.02 0.83%

The current 90-days correlation between Apex Healthcare Bhd and Duopharma Biotech Bhd is -0.11 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Apex Healthcare moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Apex Healthcare Bhd moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Apex Healthcare Correlation With Market

Good diversification

The correlation between Apex Healthcare Bhd and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Apex Healthcare Bhd and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Apex Stock

0.63

7148

Duopharma Biotech Bhd

Pair Corr

Moving against Apex Stock

0.87	0104	Genetec Technology Bhd	Pair Corr
0.83	0251	SFP Tech Holdings	Pair Corr
0.82	5286	MI Technovation Bhd	Pair Corr
0.81	2488	Alliance Financial	Pair Corr
0.81	5168	Hartalega Holdings Bhd	Pair Corr
0.8	5070	Protasco Bhd	Pair Corr
0.8	5317	CPE Technology Berhad	Pair Corr
0.8	0320	Steel Hawk Berhad	Pair Corr
0.79	2836	Carlsberg Brewery	Pair Corr
0.79	5292	Uwc Bhd	Pair Corr
0.78	0017	XOX Technology Bhd	Pair Corr
0.77	8052	Central Industrial Corp	Pair Corr
0.76	7153	Kossan Rubber Industries	Pair Corr
0.72	7113	Top Glove	Pair Corr
0.71	7106	Supermax Bhd	Pair Corr
0.69	5302	Aurelius Technologies Bhd	Pair Corr
0.64	0075	Lyc Healthcare Bhd	Pair Corr
0.62	5011	Mesiniaga Bhd	Pair Corr
0.61	5053	OSK Holdings Bhd	Pair Corr
0.6	5219	PESTECH International Bhd	Pair Corr
0.52	0208	Greatech Technology Bhd	Pair Corr
0.34	7232	Resintech Bhd	Pair Corr

Related Correlations Analysis

	7090	7148	0041	5292	5306	0017	7106	5218	5053	7113
7090		0.63	0.11	-0.79	-0.21	-0.78	-0.71	0.04	-0.61	-0.72	7090
7148	0.63		0.04	-0.75	-0.27	-0.57	-0.32	0.1	-0.12	-0.44	7148
0041	0.11	0.04		-0.01	0.05	0.05	-0.08	-0.08	-0.01	-0.01	0041
5292	-0.79	-0.75	-0.01		0.28	0.78	0.76	-0.14	0.61	0.76	5292
5306	-0.21	-0.27	0.05	0.28		0.13	0.16	0.03	0.06	0.13	5306
0017	-0.78	-0.57	0.05	0.78	0.13		0.68	0.04	0.61	0.82	0017
7106	-0.71	-0.32	-0.08	0.76	0.16	0.68		-0.13	0.92	0.87	7106
5218	0.04	0.1	-0.08	-0.14	0.03	0.04	-0.13		-0.07	-0.04	5218
5053	-0.61	-0.12	-0.01	0.61	0.06	0.61	0.92	-0.07		0.83	5053
7113	-0.72	-0.44	-0.01	0.76	0.13	0.82	0.87	-0.04	0.83		7113
	7090	7148	0041	5292	5306	0017	7106	5218	5053	7113

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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

5053	+ 0.92	7106
7113	+ 0.87	7106
7113	+ 0.83	5053
7113	+ 0.82	0017
0017	+ 0.78	5292
7106	+ 0.76	5292

High negative correlations

5292	- 0.79	7090
0017	- 0.78	7090
5292	- 0.75	7148
7113	- 0.72	7090
7106	- 0.71	7090
5053	- 0.61	7090

Risk-Adjusted Indicators

There is a big difference between Apex Stock performing well and Apex Healthcare 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 Apex Healthcare'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
7090	0.63	(0.17)	0.00	7.57	0.00	0.00	1.22	(1.56)	5.50
7148	0.94	(0.20)	0.00	0.99	0.00	0.00	1.59	(2.38)	4.65
0041	22.28	4.02	0.12	7.09	18.94	(50.00)	50.00	(33.33)	83.33
5292	2.23	0.62	0.21	(239.78)	2.33	(2.60)	4.95	(3.51)	15.77
5306	1.03	0.06	0.03	0.82	1.14	(1.25)	2.23	(2.16)	6.12
0017	4.01	0.49	0.05	(0.62)	4.30	(9.94)	11.11	(10.00)	21.11
7106	2.31	0.47	0.16	(0.33)	1.94	(3.50)	6.80	(3.49)	16.66
5218	9.19	0.74	0.05	(0.96)	9.29	(17.59)	16.67	(14.29)	58.33
5053	0.89	0.05	0.02	0.54	1.06	(1.15)	1.69	(1.85)	7.89
7113	1.86	0.24	0.07	(0.31)	2.10	(2.51)	5.34	(4.17)	13.47

Be your own money manager

Our tools can tell you how much better you can do entering a position in Apex Healthcare 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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