Loads Correlations

LOADS Stock

16.00 0.73 4.36%

The current 90-days correlation between Loads and Nishat Mills is 0.35 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Loads moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Loads moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Loads Correlation With Market

Very good diversification

The correlation between Loads and DJI is -0.37 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Loads and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Loads Stock

0.72

THCCL

Thatta Cement

Pair Corr

Moving against Loads Stock

0.56	MTL	Millat Tractors	Pair Corr
0.52	REWM	Reliance Weaving Mills	Pair Corr
0.42	AGP	AGP	Pair Corr
0.39	SCBPL	Standard Chartered Bank	Pair Corr
0.59	TCORPCPS	Tariq CorpPref	Pair Corr
0.57	ATLH	Atlas Honda	Pair Corr
0.54	HMB	Habib Metropolitan Bank	Pair Corr
0.5	ILP	Interloop	Pair Corr
0.48	POL	Pakistan Oilfields	Pair Corr
0.41	MACFL	Macpac Films	Pair Corr
0.4	SHFA	Shifa International	Pair Corr
0.39	IPAK	Int Packaging Films	Pair Corr
0.31	PTC	Pakistan Telecommunicatio	Pair Corr
0.31	ATIL	Atlas Insurance	Pair Corr

Related Correlations Analysis

	PSO	KEL	OGDC	LUCK	INDU	NRL	PPL	NML
PSO		0.47	0.84	0.72	0.53	0.79	0.84	0.74	PSO
KEL	0.47		0.74	0.2	0.76	0.54	0.72	0.57	KEL
OGDC	0.84	0.74		0.53	0.72	0.74	0.99	0.84	OGDC
LUCK	0.72	0.2	0.53		0.29	0.52	0.56	0.74	LUCK
INDU	0.53	0.76	0.72	0.29		0.59	0.69	0.55	INDU
NRL	0.79	0.54	0.74	0.52	0.59		0.74	0.62	NRL
PPL	0.84	0.72	0.99	0.56	0.69	0.74		0.87	PPL
NML	0.74	0.57	0.84	0.74	0.55	0.62	0.87		NML
	PSO	KEL	OGDC	LUCK	INDU	NRL	PPL	NML

Risk-Adjusted Indicators

There is a big difference between Loads Stock performing well and Loads 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 Loads' 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
PSO	1.01	0.10	0.02	(0.27)	1.05	(1.10)	2.37	(1.89)	5.70
KEL	2.55	0.85	0.29	(4.10)	2.07	(3.15)	7.08	(3.74)	23.47
OGDC	1.29	0.30	0.17	(2.34)	1.15	(1.53)	2.63	(1.91)	10.27
LUCK	1.43	0.09	0.03	0.37	1.45	(1.54)	3.41	(2.52)	8.77
INDU	0.82	0.14	0.06	3.86	1.06	(0.87)	2.69	(2.48)	7.03
NRL	2.06	0.39	0.13	(0.26)	1.86	(2.65)	5.32	(3.65)	14.73
PPL	1.62	0.40	0.18	(2.17)	1.66	(1.93)	3.57	(2.92)	10.96
NML	1.89	0.38	0.18	2.65	1.61	(2.34)	5.40	(2.96)	14.20

Be your own money manager

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