Asia Plus Correlations

ASP Stock

THB 2.16 0.02 0.93%

The current 90-days correlation between Asia Plus Group and Micro Leasing Public is 0.16 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Asia Plus moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Asia Plus Group moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Asia Plus Correlation With Market

Weak diversification

The correlation between Asia Plus Group and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Asia Plus Group and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Asia Stock

0.81	XPG	XSpring Capital Public	Pair Corr
0.88	PTTEP	PTT Exploration	Pair Corr
0.77	DIF	Digital Telecommunicatio	Pair Corr
0.71	TAE	Thai Agro Energy	Pair Corr
0.87	TRUBB	Thai Rubber Latex	Pair Corr
0.82	PJW	Panjawattana Plastic	Pair Corr
0.74	BCH	Bangkok Chain Hospital	Pair Corr
0.77	BRR	Buriram Sugar Public	Pair Corr
0.89	ALLA	Alla Public	Pair Corr
0.75	CRC	Central Retail	Pair Corr
0.94	SIRI	Siri Prime Office	Pair Corr
0.91	BA	Bangkok Airways Public	Pair Corr
0.64	DRT	Diamond Building Products	Pair Corr
0.64	WHART	WHA Premium Growth	Pair Corr
0.84	TEAM	Team Precision Public	Pair Corr
0.89	TNP	Thanapiriya Public	Pair Corr
0.86	WPH	Wattanapat Hospital Trang Split	Pair Corr
0.72	PDG	Prodigy Public	Pair Corr
0.88	GROREIT	Grande Royal Orchid	Pair Corr
0.93	PTG	PTG Energy PCL	Pair Corr
0.78	SO	Siamrajathanee Public	Pair Corr
0.9	AKP	Akkhie Prakarn Public	Pair Corr
0.79	TEAMG	TEAM Consulting Engi	Pair Corr
0.71	NEO	Neo Corporate Pcl	Pair Corr
0.8	HMPRO	Home Product Center	Pair Corr
0.76	BANPU	Banpu Public	Pair Corr
0.9	SCCC	Siam City Cement	Pair Corr
0.82	KLINIQ	Klinique Med	Pair Corr

Moving against Asia Stock

0.35	RML	Raimon Land Public	Pair Corr
0.35	OGC	Ocean Glass Public	Pair Corr

Related Correlations Analysis

	BUI	MICRO	AF	TH
BUI		0.64	0.16	0.19	BUI
MICRO	0.64		0.55	0.6	MICRO
AF	0.16	0.55		0.35	AF
TH	0.19	0.6	0.35		TH
	BUI	MICRO	AF	TH

Risk-Adjusted Indicators

There is a big difference between Asia Stock performing well and Asia Plus 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 Asia Plus' 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
BUI	0.67	0.12	0.05	(0.29)	0.73	(1.12)	1.61	(1.63)	6.64
MICRO	1.69	0.13	0.04	1.05	1.92	(2.21)	3.66	(3.57)	10.03
AF	2.88	(0.04)	0.00	0.14	0.00	0.00	7.14	(5.88)	17.23
TH	2.40	0.04	0.01	0.08	2.73	(4.73)	6.67	(5.45)	25.02

Be your own money manager

Our tools can tell you how much better you can do entering a position in Asia Plus 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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Asia Plus Corporate Executives

Elected by the shareholders, the Asia Plus' board of directors comprises two types of representatives: Asia Plus inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Asia. The board's role is to monitor Asia Plus' management team and ensure that shareholders' interests are well served. Asia Plus' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Asia Plus' outside directors are responsible for providing unbiased perspectives on the board's policies.

Pithayain Assavanig

CFO, Head of Fin., Accounting and Planing Division, Member of Investment Committee and Member of Equity Derivatives Committee

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Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

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