Xito SA Correlations

Stocks Sri Lanka . 
Stock . xito SA XITO
EXITO Stock   1,920  35.00  1.79%   
The correlation of Xito SA 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.

Xito SA Correlation With Market

Good diversification

The correlation between xito SA XITO and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding xito SA XITO and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Xito SA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Xito SA 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 Xito SA - 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 xito SA XITO to buy it.

Moving against Xito Stock

  0.93DFCCN0000 DFCC Bank PLCPairCorr
  0.92SEYBN0000 Seylan Bank PLCPairCorr
  0.92SINSN0000 Singer Sri LankaPairCorr
  0.91HNBX0000 HATTON NATIONAL BANKPairCorr
  0.89SMOTN0000 Sathosa Motors PLCPairCorr
  0.89CHOTN0000 Ceylon HotelsPairCorr
  0.88LOLCN0000 LOLC Holdings PLCPairCorr
  0.87AHUNN0000 Aitken Spence HotelPairCorr
  0.86CERAN0000 Lanka Ceramic PLCPairCorr
  0.84HSIGN0000 Hotel Sigiriya PLCPairCorr
  0.83WAPON0000 Guardian Capital PartnersPairCorr
  0.82SFCLN0000 Senkadagala Finance PLCPairCorr
  0.8HAYCN0000 Haycarb PLCPairCorr
  0.8GHLLN0000 Galadari Hotels LankaPairCorr
  0.78LHLN0000 Lighthouse Hotel PLCPairCorr
  0.77UCARN0000 Union Chemicals LankaPairCorr
  0.75ONALN0000 Onally Holdings PLCPairCorr
  0.72COCOX0000 RENUKA FOODS PLCPairCorr
  0.71LIONN0000 Lion Brewery CeylonPairCorr
  0.64HPLN0000 Hatton PlantationsPairCorr
  0.56HEXPN0000 Hayleys Fibre PLCPairCorr
  0.54ASPHN0000 Industrial Asphalts PLCPairCorr
  0.41MALX0000 MALWATTE VALLEY PLANPairCorr
  0.92ABANN0000 Abans Electricals PLCPairCorr
  0.92BUKIN0000 Bukit Darah PLCPairCorr
  0.91BILN0000 BROWNS INVESTMENTS PLCPairCorr
  0.91PLCN0000 PEOPLES LEASING FINANCEPairCorr
  0.9SAMPN0000 Sampath Bank PLCPairCorr
  0.88GUARN0000 Ceylon Guardian InvePairCorr
  0.88ABLN0000 Amana BankPairCorr
  0.85CINSX0000 CEYLINCO INSURANCE PLCPairCorr
  0.84SHOTN0000 Serendib Hotels PLCPairCorr
  0.84TAJN0000 Tal Lanka HotelsPairCorr
  0.81LIOCN0000 Lanka IOC PLCPairCorr
  0.79ATLN0000 Amana Takaful PLCPairCorr
  0.79SOYN0000 Convenience Foods PLCPairCorr
  0.79CHMXN0000 Chemanex PLCPairCorr
  0.78ATLLN0000 Amana Takaful LifePairCorr
  0.75TILEN0000 Lanka Tiles PLCPairCorr
  0.74DISTN0000 Distilleries CompanyPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Xito Stock performing well and Xito SA 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 Xito SA'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
CERAN0000  2.07  0.51  0.14 (0.57) 2.04 
(3.12)
 5.56 
(3.94)
 22.37 
HAYCN0000  1.01  0.13  0.11 (2.03) 0.95 
(1.32)
 2.26 
(1.62)
 7.11 
COCOX0000  1.83  0.12  0.05  0.31  1.83 
(2.87)
 4.67 
(3.51)
 13.57 
ABANN0000  2.72  1.06  0.41  0.64  1.87 
(3.53)
 7.49 
(4.33)
 22.05 
CINSX0000  1.60  0.60  0.28 (0.86) 0.99 
(2.46)
 4.76 
(2.26)
 24.35 
LHLN0000  1.90  0.37  0.16  1.39  1.68 
(2.77)
 5.16 
(3.60)
 12.09 
GUARN0000  2.36  0.72  0.26 (5.01) 2.08 
(3.19)
 6.05 
(3.44)
 21.55 
SINSN0000  2.24  0.79  0.35 (5.87) 1.79 
(3.03)
 5.37 
(3.64)
 16.01 
CHOTN0000  2.20  0.49  0.20 (0.70) 1.94 
(2.75)
 7.27 
(3.42)
 14.42 
UCARN0000  0.63  0.20  0.19 (1.79) 0.24 
(1.18)
 2.53 
(1.17)
 4.83 

Xito SA 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 Xito SA stock to make a market-neutral strategy. Peer analysis of Xito SA could also be used in its relative valuation, which is a method of valuing Xito SA by comparing valuation metrics with similar companies.
 Risk & Return  Correlation
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