ECVC Correlations
| ECVC Stock | 0.32 0.02 6.67% |
The current 90-days correlation between ECVC and Aboitiz Equity Ventures is 0.03 (i.e., Significant diversification). The correlation of ECVC is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.
ECVC Correlation With Market
Very weak diversification
The correlation between ECVC and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ECVC and DJI in the same portfolio, assuming nothing else is changed.
ECVC |
The ability to find closely correlated positions to ECVC could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ECVC 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 ECVC - 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 ECVC to buy it.
Moving together with ECVC Stock
| 0.66 | AC | Ayala Corp | PairCorr |
| 0.71 | AEV | Aboitiz Equity Ventures | PairCorr |
| 0.68 | APX | Apex Mining | PairCorr |
| 0.73 | NIKL | Nickel Asia Corp | PairCorr |
| 0.66 | ACR | Alsons Consolidated | PairCorr |
| 0.73 | AUB | Asia United Bank | PairCorr |
| 0.79 | GMA7 | GMA Network | PairCorr |
| 0.66 | URC | Universal Robina Corp | PairCorr |
| 0.62 | VLL | Vista Land | PairCorr |
| 0.61 | JFC | Jollibee Foods Corp | PairCorr |
| 0.75 | FLI | Filinvest Land | PairCorr |
| 0.68 | MRSGI | Metro Retail Stores | PairCorr |
Moving against ECVC Stock
| 0.42 | ECP | Easycall Communications | PairCorr |
| 0.35 | ACE | Acesite Hotel Corp | PairCorr |
| 0.32 | RLT | Philippine Realty | PairCorr |
Related Correlations Analysis
Risk-Adjusted Indicators
There is a big difference between ECVC Stock performing well and ECVC 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 ECVC'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SM | 0.95 | (0.04) | 0.00 | (0.04) | 0.00 | 2.54 | 6.94 | |||
| FB | 0.74 | 0.04 | 0.00 | (1.97) | 0.96 | 1.85 | 5.54 | |||
| AC | 1.77 | 0.37 | 0.17 | 0.67 | 1.72 | 3.62 | 7.94 | |||
| ALI | 1.62 | 0.07 | 0.03 | 0.16 | 1.85 | 3.56 | 9.42 | |||
| BDO | 1.77 | 0.05 | 0.02 | 0.12 | 2.01 | 4.08 | 10.64 | |||
| TEL | 1.00 | 0.32 | 0.26 | (0.70) | 0.52 | 3.03 | 7.83 | |||
| BPI | 1.62 | 0.20 | 0.09 | 0.50 | 1.78 | 3.16 | 16.35 | |||
| AEV | 1.67 | 0.24 | 0.11 | 0.47 | 1.72 | 3.70 | 6.74 |
ECVC Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with ECVC stock to make a market-neutral strategy. Peer analysis of ECVC could also be used in its relative valuation, which is a method of valuing ECVC by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |