First Fidelity Correlations

FFLM Stock

8.66 0.17 2.00%

The current 90-days correlation between First Fidelity Leasing and Reliance Weaving Mills is -0.07 (i.e., Good diversification). The correlation of First Fidelity 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.

First Fidelity Correlation With Market

Pay attention - limited upside

The correlation between First Fidelity Leasing and DJI is -0.75 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Fidelity Leasing and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with First Stock

0.62	KSBP	KSB Pumps	Pair Corr
0.63	THCCL	Thatta Cement	Pair Corr

Moving against First Stock

0.82	NML	Nishat Mills	Pair Corr
0.82	SCBPL	Standard Chartered Bank	Pair Corr
0.79	IPAK	Int Packaging Films	Pair Corr
0.75	GATM	Gul Ahmed Textile	Pair Corr
0.72	FFL	Fauji Foods	Pair Corr
0.69	BOP	Bank of Punjab	Pair Corr
0.68	KAPCO	KOT Addu Power	Pair Corr
0.68	NRL	National Refinery	Pair Corr
0.66	KOHC	Kohat Cement	Pair Corr
0.64	IGIL	IGI Life Insurance	Pair Corr
0.63	SHFA	Shifa International	Pair Corr
0.62	BAHL	Bank Al Habib	Pair Corr
0.58	MARI	Mari Energies	Pair Corr
0.56	MSOT	Masood Textile Mills	Pair Corr
0.52	ITTEFAQ	ITTEFAQ Iron Industries	Pair Corr

Related Correlations Analysis

	MSOT	FFL	KSBP	MARI	LOADS	THCCL	KAPCO	REWM
MSOT		0.52	-0.22	0.58	-0.05	-0.5	0.31	0.26	MSOT
FFL	0.52		-0.56	0.81	-0.1	-0.72	0.64	0.06	FFL
KSBP	-0.22	-0.56		-0.24	0.38	0.59	-0.57	0.11	KSBP
MARI	0.58	0.81	-0.24		0.16	-0.41	0.52	-0.13	MARI
LOADS	-0.05	-0.1	0.38	0.16		0.49	0.07	-0.44	LOADS
THCCL	-0.5	-0.72	0.59	-0.41	0.49		-0.42	-0.48	THCCL
KAPCO	0.31	0.64	-0.57	0.52	0.07	-0.42		-0.23	KAPCO
REWM	0.26	0.06	0.11	-0.13	-0.44	-0.48	-0.23		REWM
	MSOT	FFL	KSBP	MARI	LOADS	THCCL	KAPCO	REWM

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

MARI	+ 0.81	FFL
KAPCO	+ 0.64	FFL
THCCL	+ 0.59	KSBP
MARI	+ 0.58	MSOT
FFL	+ 0.52	MSOT
KAPCO	+ 0.52	MARI

High negative correlations

THCCL	- 0.72	FFL
KAPCO	- 0.57	KSBP
KSBP	- 0.56	FFL
THCCL	- 0.5	MSOT
REWM	- 0.48	THCCL
REWM	- 0.44	LOADS

Risk-Adjusted Indicators

There is a big difference between First Stock performing well and First Fidelity 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 First Fidelity'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
MSOT	2.97	0.46	0.08	(0.23)	3.17	(3.50)	10.00	(5.99)	18.25
FFL	1.49	0.22	0.08	(0.65)	1.28	(2.02)	3.28	(2.63)	13.46
KSBP	1.22	(0.04)	0.00	0.18	0.00	0.00	2.59	(2.30)	12.24
MARI	0.73	0.02	(0.08)	(0.07)	0.82	(0.94)	2.00	(1.34)	4.97
LOADS	1.22	(0.02)	0.00	1.55	0.00	0.00	3.10	(2.87)	9.03
THCCL	2.00	(0.37)	0.00	0.57	0.00	0.00	3.79	(5.56)	17.56
KAPCO	1.05	0.22	0.16	(2.84)	0.60	(1.64)	3.07	(1.35)	12.63
REWM	2.77	0.43	0.08	(1.29)	3.03	(4.51)	9.88	(6.96)	20.00

Be your own money manager

Our tools can tell you how much better you can do entering a position in First Fidelity 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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