FIRSTRAND (FSRASG) Correlations

FSRA Stock

4.58 0.02 0.43%

The current 90-days correlation between FIRSTRAND (FSRASG) and Singapore Telecommunications Limited is -0.08 (i.e., Good diversification). The correlation of FIRSTRAND (FSRASG) 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.

FIRSTRAND (FSRASG) Correlation With Market

Modest diversification

The correlation between FIRSTRAND and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding FIRSTRAND and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against FIRSTRAND Stock

0.52	MSF	Microsoft	Pair Corr
0.5	MSF	Microsoft	Pair Corr
0.48	MSF	Microsoft	Pair Corr
0.44	MSF	Microsoft	Pair Corr

Related Correlations Analysis

	9GY	UVD	6P5	SIT4	ISHA	PL8	QJ9
9GY		0.78	0.63	-0.8	0.75	0.74	0.28	9GY
UVD	0.78		0.59	-0.87	0.58	0.51	0.36	UVD
6P5	0.63	0.59		-0.5	0.62	0.37	0.59	6P5
SIT4	-0.8	-0.87	-0.5		-0.61	-0.69	-0.24	SIT4
ISHA	0.75	0.58	0.62	-0.61		0.65	0.47	ISHA
PL8	0.74	0.51	0.37	-0.69	0.65		-0.01	PL8
QJ9	0.28	0.36	0.59	-0.24	0.47	-0.01		QJ9
	9GY	UVD	6P5	SIT4	ISHA	PL8	QJ9

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

UVD	+ 0.78	9GY
ISHA	+ 0.75	9GY
PL8	+ 0.74	9GY
PL8	+ 0.65	ISHA
6P5	+ 0.63	9GY
ISHA	+ 0.62	6P5

High negative correlations

SIT4	- 0.87	UVD
SIT4	- 0.8	9GY
PL8	- 0.69	SIT4
ISHA	- 0.61	SIT4
SIT4	- 0.5	6P5
QJ9	- 0.24	SIT4

Risk-Adjusted Indicators

There is a big difference between FIRSTRAND Stock performing well and FIRSTRAND (FSRASG) 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 FIRSTRAND (FSRASG)'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
9GY	2.01	(0.15)	0.00	1.30	0.00	0.00	4.17	(4.80)	12.98
UVD	1.99	(0.09)	0.00	0.20	0.00	0.00	4.11	(4.15)	25.10
6P5	1.93	(0.06)	0.00	(0.43)	0.00	0.00	4.84	(4.65)	11.79
SIT4	1.19	0.14	0.04	(6.33)	1.20	(1.60)	2.91	(2.22)	7.81
ISHA	2.14	0.21	0.02	(0.13)	2.34	(3.08)	6.67	(4.80)	13.87
PL8	1.89	(0.26)	0.00	0.57	0.00	0.00	4.17	(3.44)	24.64
QJ9	2.60	1.00	0.00	20.21	0.00	0.00	8.33	0.00	21.59

Be your own money manager

Our tools can tell you how much better you can do entering a position in FIRSTRAND (FSRASG) 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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