8990 Holdings Correlations

HOUSE Stock

8.69 0.01 0.11%

The current 90-days correlation between 8990 Holdings and Converge Information Communications is 0.08 (i.e., Significant diversification). The correlation of 8990 Holdings 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.

8990 Holdings Correlation With Market

Significant diversification

The correlation between 8990 Holdings and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding 8990 Holdings and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to 8990 Holdings could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 8990 Holdings 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 8990 Holdings - 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 8990 Holdings to buy it.

Moving against 8990 Stock

0.68	PSB	Philippine Savings Bank	Pair Corr
0.56	RCB	Rizal Commercial Banking	Pair Corr
0.55	BPI	Bank of the	Pair Corr
0.53	FLI	Filinvest Land	Pair Corr
0.47	SECB	Security Bank Corp	Pair Corr
0.39	VLL	Vista Land	Pair Corr

Related Correlations Analysis

	LC	APX	SM	CNVRG	TFHI	PRIM	PHA	MRSGI
LC		0.0	0.2	0.37	-0.26	0.18	0.73	0.11	LC
APX	0.0		0.49	-0.04	0.36	0.79	-0.06	0.1	APX
SM	0.2	0.49		0.5	-0.19	0.61	0.37	-0.46	SM
CNVRG	0.37	-0.04	0.5		-0.4	0.2	0.43	-0.48	CNVRG
TFHI	-0.26	0.36	-0.19	-0.4		0.29	-0.3	0.49	TFHI
PRIM	0.18	0.79	0.61	0.2	0.29		0.15	0.05	PRIM
PHA	0.73	-0.06	0.37	0.43	-0.3	0.15		-0.09	PHA
MRSGI	0.11	0.1	-0.46	-0.48	0.49	0.05	-0.09		MRSGI
	LC	APX	SM	CNVRG	TFHI	PRIM	PHA	MRSGI

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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

PRIM	+ 0.79	APX
PHA	+ 0.73	LC
PRIM	+ 0.61	SM
CNVRG	+ 0.5	SM
SM	+ 0.49	APX
MRSGI	+ 0.49	TFHI

High negative correlations

MRSGI	- 0.48	CNVRG
MRSGI	- 0.46	SM
TFHI	- 0.4	CNVRG
PHA	- 0.3	TFHI
TFHI	- 0.26	LC
TFHI	- 0.19	SM

Risk-Adjusted Indicators

There is a big difference between 8990 Stock performing well and 8990 Holdings 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 8990 Holdings' 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
LC	2.62	0.01	0.00	0.14	2.50	(4.06)	7.46	(4.62)	19.01
APX	1.49	(0.34)	0.00	(0.95)	0.00	0.00	2.38	(3.69)	9.21
SM	1.25	(0.03)	0.00	0.26	0.00	0.00	2.27	(2.67)	12.87
CNVRG	1.94	0.18	0.03	2.77	2.03	(2.26)	4.78	(2.92)	11.77
TFHI	3.10	0.09	0.00	0.03	0.00	0.00	9.98	(6.34)	27.45
PRIM	2.18	(0.39)	0.00	(1.69)	0.00	0.00	4.69	(5.29)	18.91
PHA	2.63	0.17	0.01	(0.84)	2.84	(5.94)	5.88	(5.56)	16.37
MRSGI	1.13	(0.08)	0.00	(0.65)	0.00	0.00	2.61	(2.50)	9.13

Be your own money manager

Our tools can tell you how much better you can do entering a position in 8990 Holdings 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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