Hi Tech Correlations

HTL Stock

49.19 0.55 1.13%

The current 90-days correlation between Hi Tech Lubricants and Atlas Insurance is 0.1 (i.e., Average diversification). The correlation of Hi Tech 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.

Hi Tech Correlation With Market

Good diversification

The correlation between Hi Tech Lubricants and DJI is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hi Tech Lubricants and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with HTL Stock

0.81	HBL	Habib Bank	Pair Corr
0.76	UBL	United Bank	Pair Corr
0.74	MCB	MCB Bank	Pair Corr
0.87	ABL	Allied Bank	Pair Corr
0.82	BAHL	Bank Al Habib	Pair Corr
0.83	BAFL	Bank Alfalah	Pair Corr
0.84	AKBL	Askari Bank	Pair Corr
0.73	HMB	Habib Metropolitan Bank	Pair Corr
0.84	FCCL	Fauji Cement	Pair Corr
0.84	ESBL	Escorts Investment Bank	Pair Corr
0.76	EPCL	Engro Polymer Chemicals	Pair Corr
0.85	LOADS	Loads	Pair Corr
0.77	AGP	AGP	Pair Corr
0.91	APL	Attock Petroleum	Pair Corr
0.8	MARI	Mari Petroleum	Pair Corr
0.82	AICL	Adamjee Insurance	Pair Corr
0.79	ASL	Aisha Steel Mills	Pair Corr
0.74	PSO	Pakistan State Oil	Pair Corr
0.88	MLCF	Maple Leaf Cement	Pair Corr
0.85	INIL	International Industries	Pair Corr
0.86	WTL	WorldCall Telecom	Pair Corr

Related Correlations Analysis

	ATIL	SNBL	AKBL	JSGBETF	PAKRI	MCB	JSIL	JLICL
ATIL		0.88	0.84	0.8	0.96	0.81	0.67	0.88	ATIL
SNBL	0.88		0.94	0.89	0.83	0.9	0.58	0.94	SNBL
AKBL	0.84	0.94		0.89	0.79	0.92	0.56	0.88	AKBL
JSGBETF	0.8	0.89	0.89		0.75	0.89	0.5	0.83	JSGBETF
PAKRI	0.96	0.83	0.79	0.75		0.73	0.69	0.85	PAKRI
MCB	0.81	0.9	0.92	0.89	0.73		0.47	0.79	MCB
JSIL	0.67	0.58	0.56	0.5	0.69	0.47		0.6	JSIL
JLICL	0.88	0.94	0.88	0.83	0.85	0.79	0.6		JLICL
	ATIL	SNBL	AKBL	JSGBETF	PAKRI	MCB	JSIL	JLICL

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Risk-Adjusted Indicators

There is a big difference between HTL Stock performing well and Hi Tech 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 Hi Tech'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
ATIL	1.67	0.57	0.32	1.63	1.28	(1.92)	4.37	(2.51)	8.95
SNBL	1.59	0.42	0.26	3.50	1.26	(2.10)	5.54	(2.68)	13.22
AKBL	2.31	0.46	0.15	0.85	2.51	(2.62)	8.08	(4.23)	18.66
JSGBETF	2.15	0.17	0.03	(0.18)	3.95	(2.02)	6.44	(4.66)	20.38
PAKRI	2.62	0.75	0.24	(1.92)	2.37	(3.05)	8.06	(4.25)	18.12
MCB	1.63	0.22	0.09	6.73	2.00	(1.67)	4.52	(4.05)	11.22
JSIL	3.10	0.16	0.03	12.35	3.69	(3.36)	6.35	(6.35)	17.51
JLICL	2.14	0.49	0.21	(1.20)	1.88	(2.83)	5.28	(3.97)	15.51

Be your own money manager

Our tools can tell you how much better you can do entering a position in Hi Tech 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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