Duopharma Biotech Correlations

7148 Stock

1.21 0.03 2.42%

The current 90-days correlation between Duopharma Biotech Bhd and Uchi Technologies Bhd is 0.2 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Duopharma Biotech moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Duopharma Biotech Bhd moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Duopharma Biotech Correlation With Market

Good diversification

The correlation between Duopharma Biotech Bhd and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Duopharma Biotech Bhd and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Duopharma Stock

0.63

7090

Apex Healthcare Bhd

Pair Corr

Moving against Duopharma Stock

0.75	5292	Uwc Bhd	Pair Corr
0.63	2488	Alliance Financial	Pair Corr
0.59	0320	Steel Hawk Berhad	Pair Corr
0.59	8052	Central Industrial Corp	Pair Corr
0.57	5168	Hartalega Holdings Bhd	Pair Corr
0.57	0017	XOX Technology Bhd	Pair Corr
0.57	5317	CPE Technology Berhad	Pair Corr
0.55	0251	SFP Tech Holdings	Pair Corr
0.53	7153	Kossan Rubber Industries	Pair Corr
0.48	0129	Silver Ridge Holdings	Pair Corr
0.47	2836	Carlsberg Brewery	Pair Corr
0.45	0104	Genetec Technology Bhd	Pair Corr
0.44	7113	Top Glove	Pair Corr
0.44	0208	Greatech Technology Bhd	Pair Corr
0.4	5286	MI Technovation Bhd	Pair Corr
0.33	0075	Lyc Healthcare Bhd	Pair Corr
0.32	7106	Supermax Bhd	Pair Corr

Related Correlations Analysis

	7217	7100	5169	0250	8869	5797	1295	1562
7217		-0.34	0.41	0.62	-0.07	0.57	0.04	0.05	7217
7100	-0.34		-0.38	-0.5	0.44	-0.61	0.37	-0.23	7100
5169	0.41	-0.38		0.3	-0.26	0.18	-0.29	-0.29	5169
0250	0.62	-0.5	0.3		-0.26	0.87	-0.08	0.52	0250
8869	-0.07	0.44	-0.26	-0.26		-0.33	0.57	-0.43	8869
5797	0.57	-0.61	0.18	0.87	-0.33		-0.19	0.6	5797
1295	0.04	0.37	-0.29	-0.08	0.57	-0.19		-0.22	1295
1562	0.05	-0.23	-0.29	0.52	-0.43	0.6	-0.22		1562
	7217	7100	5169	0250	8869	5797	1295	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

5797	+ 0.87	0250
0250	+ 0.62	7217
1562	+ 0.6	5797
5797	+ 0.57	7217
1295	+ 0.57	8869
1562	+ 0.52	0250

High negative correlations

5797	- 0.61	7100
0250	- 0.5	7100
1562	- 0.43	8869
5169	- 0.38	7100
7100	- 0.34	7217
5797	- 0.33	8869

Risk-Adjusted Indicators

There is a big difference between Duopharma Stock performing well and Duopharma Biotech 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 Duopharma Biotech'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
7217	1.99	(0.24)	0.00	1.07	0.00	0.00	6.45	(6.67)	20.39
7100	0.73	0.05	0.04	1.16	0.69	(0.92)	1.59	(1.27)	8.33
5169	2.56	0.00	0.00	0.03	2.97	(10.58)	6.67	(6.25)	30.20
0250	1.01	(0.16)	0.00	0.27	0.00	0.00	4.00	(4.00)	8.17
8869	1.22	0.03	0.00	(0.10)	1.53	(1.47)	3.21	(3.32)	10.00
5797	1.00	(0.17)	0.00	0.88	0.00	0.00	2.82	(2.74)	14.55
1295	0.64	(0.02)	0.00	(0.12)	0.00	0.00	1.36	(1.33)	4.23
1562	0.85	(0.02)	0.00	1.88	0.00	0.00	1.96	(1.94)	7.16

Be your own money manager

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