Dnonce Tech Correlations

7114 Stock

0.05 0.00 0.00%

The current 90-days correlation between Dnonce Tech Bhd and Eversafe Rubber Bhd is -0.12 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Dnonce Tech moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Dnonce Tech Bhd moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Dnonce Tech Correlation With Market

Good diversification

The correlation between Dnonce Tech Bhd and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dnonce Tech Bhd and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Dnonce 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 Dnonce 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 Dnonce 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 Dnonce Tech Bhd to buy it.

Moving together with Dnonce Stock

0.61	5100	BP Plastics Holding	Pair Corr
0.67	9148	Advanced Packaging Tech	Pair Corr
0.67	5284	Lotte Chemical Titan	Pair Corr
0.68	5797	Choo Bee Metal	Pair Corr
0.74	7090	Apex Healthcare Bhd	Pair Corr

Moving against Dnonce Stock

0.6	4731	Scientex Bhd	Pair Corr
0.59	4995	Versatile Creative Bhd	Pair Corr
0.5	0132	TechnoDex Bhd	Pair Corr
0.42	8621	LPI Capital Bhd	Pair Corr
0.39	8125	Scientex Packaging	Pair Corr

Related Correlations Analysis

	0190	0091	0243	5216	5305	2836	1562
0190		0.43	0.57	0.75	0.47	-0.54	0.5	0190
0091	0.43		0.38	0.41	0.04	-0.15	0.25	0091
0243	0.57	0.38		0.69	0.47	-0.46	0.14	0243
5216	0.75	0.41	0.69		0.6	-0.52	0.53	5216
5305	0.47	0.04	0.47	0.6		-0.51	0.2	5305
2836	-0.54	-0.15	-0.46	-0.52	-0.51		-0.21	2836
1562	0.5	0.25	0.14	0.53	0.2	-0.21		1562
	0190	0091	0243	5216	5305	2836	1562

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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

5216	+ 0.75	0190
5216	+ 0.69	0243
5305	+ 0.6	5216
0243	+ 0.57	0190
1562	+ 0.53	5216
1562	+ 0.5	0190

High negative correlations

2836	- 0.54	0190
2836	- 0.52	5216
2836	- 0.51	5305
2836	- 0.46	0243
1562	- 0.21	2836
2836	- 0.15	0091

Risk-Adjusted Indicators

There is a big difference between Dnonce Stock performing well and Dnonce 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 Dnonce 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
0190	1.93	(0.35)	0.00	126.01	0.00	0.00	5.88	(5.88)	16.99
0091	2.18	0.31	(0.01)	(0.04)	3.04	(8.52)	8.33	(7.69)	17.42
0243	0.95	(0.09)	0.00	(0.15)	0.00	0.00	3.85	(3.70)	8.00
5216	1.25	(0.27)	0.00	(0.26)	0.00	0.00	2.56	(2.50)	9.42
5305	1.40	(0.28)	0.00	(0.58)	0.00	0.00	4.00	(4.00)	8.17
2836	0.77	0.14	0.02	(108.76)	0.78	(0.88)	1.66	(1.20)	6.54
1562	0.76	(0.10)	0.00	1.49	0.00	0.00	1.30	(1.89)	7.07

Be your own money manager

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