Lysaght Galvanized Correlations
| 9199 Stock | 3.42 0.03 0.88% |
The current 90-days correlation between Lysaght Galvanized Steel and Eonmetall Group Bhd is -0.09 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Lysaght Galvanized moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Lysaght Galvanized Steel moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Lysaght Galvanized Correlation With Market
Good diversification
The correlation between Lysaght Galvanized Steel 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 Lysaght Galvanized Steel and DJI in the same portfolio, assuming nothing else is changed.
Lysaght |
The ability to find closely correlated positions to Lysaght Galvanized could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Lysaght Galvanized 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 Lysaght Galvanized - 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 Lysaght Galvanized Steel to buy it.
Moving against Lysaght Stock
| 0.72 | 1155 | Malayan Banking Bhd | PairCorr |
| 0.59 | 5183 | Petronas Chemicals | PairCorr |
| 0.52 | 5797 | Choo Bee Metal | PairCorr |
| 0.52 | 4197 | Sime Darby Bhd | PairCorr |
| 0.39 | 5098 | Malaysia Steel Works | PairCorr |
| 0.35 | 6888 | Axiata Group Bhd | PairCorr |
| 0.32 | 8869 | Press Metal Bhd | PairCorr |
| 0.32 | 5347 | Tenaga Nasional Bhd | PairCorr |
Related Correlations Analysis
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Be your own money manager
Our tools can tell you how much better you can do entering a position in Lysaght Galvanized 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.Did you try this?
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