Master Style Correlations

MASTER Stock

10.80 0.50 4.42%

The current 90-days correlation between Master Style PCL and Wattanapat Hospital Trang is -0.07 (i.e., Good diversification). The correlation of Master Style 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.

Master Style Correlation With Market

Average diversification

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

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

Moving together with Master Stock

0.85	DELTA	Delta Electronics Public	Pair Corr
0.64	PTT	PTT Public	Pair Corr
0.67	PTTEP	PTT Exploration	Pair Corr
0.61	TAE	Thai Agro Energy	Pair Corr
0.79	TNP	Thanapiriya Public	Pair Corr
0.71	NOBLE	Noble Development Public	Pair Corr
0.63	SO	Siamrajathanee Public	Pair Corr
0.66	SCCC	Siam City Cement	Pair Corr
0.67	AIE	Ai Energy Public	Pair Corr
0.61	KLINIQ	Klinique Med	Pair Corr
0.81	BH	Bumrungrad Hospital PCL	Pair Corr
0.7	BA	Bangkok Airways Public Earnings Call Tomorrow	Pair Corr
0.68	TC	Tropical Canning Public	Pair Corr
0.69	BCH	Bangkok Chain Hospital Earnings Call This Week	Pair Corr
0.79	TRUBB	Thai Rubber Latex	Pair Corr
0.77	AKP	Akkhie Prakarn Public	Pair Corr
0.71	STANLY	Thai Stanley Electric	Pair Corr
0.62	PJW	Panjawattana Plastic	Pair Corr
0.81	PTG	PTG Energy PCL	Pair Corr
0.62	BRR	Buriram Sugar Public	Pair Corr

Related Correlations Analysis

	M-CHAI	RPH	RJH	LPH	TOG	NTV	AHC	EKH	BIZ	WPH
M-CHAI		0.09	0.57	0.59	-0.59	0.3	0.42	-0.26	0.18	0.16	M-CHAI
RPH	0.09		0.64	0.4	0.55	0.76	0.34	0.6	0.81	0.85	RPH
RJH	0.57	0.64		0.79	-0.03	0.62	0.48	0.14	0.64	0.59	RJH
LPH	0.59	0.4	0.79		-0.1	0.34	0.24	-0.02	0.3	0.34	LPH
TOG	-0.59	0.55	-0.03	-0.1		0.15	-0.08	0.7	0.3	0.41	TOG
NTV	0.3	0.76	0.62	0.34	0.15		0.14	0.3	0.73	0.82	NTV
AHC	0.42	0.34	0.48	0.24	-0.08	0.14		0.22	0.35	0.19	AHC
EKH	-0.26	0.6	0.14	-0.02	0.7	0.3	0.22		0.48	0.5	EKH
BIZ	0.18	0.81	0.64	0.3	0.3	0.73	0.35	0.48		0.75	BIZ
WPH	0.16	0.85	0.59	0.34	0.41	0.82	0.19	0.5	0.75		WPH
	M-CHAI	RPH	RJH	LPH	TOG	NTV	AHC	EKH	BIZ	WPH

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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

WPH	+ 0.85	RPH
WPH	+ 0.82	NTV
BIZ	+ 0.81	RPH
LPH	+ 0.79	RJH
NTV	+ 0.76	RPH
WPH	+ 0.75	BIZ

High negative correlations

TOG	- 0.59	M-CHAI
EKH	- 0.26	M-CHAI
TOG	- 0.1	LPH
AHC	- 0.08	TOG
TOG	- 0.03	RJH
EKH	- 0.02	LPH

Risk-Adjusted Indicators

There is a big difference between Master Stock performing well and Master Style 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 Master Style'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
M-CHAI	1.13	0.05	(0.02)	(0.06)	1.56	(1.59)	2.74	(2.79)	11.17
RPH	0.35	0.05	(0.01)	0.43	0.27	(0.68)	0.99	(0.81)	2.05
RJH	1.15	0.20	0.09	15.83	1.01	(1.72)	2.90	(1.54)	7.18
LPH	0.39	0.05	(0.02)	(0.33)	0.41	(0.69)	1.09	(0.55)	3.21
TOG	0.92	0.12	0.05	1.20	0.74	(2.30)	2.24	(1.50)	16.18
NTV	0.58	0.04	(0.01)	0.35	0.77	(0.80)	1.32	(1.32)	3.96
AHC	1.10	(0.07)	0.00	0.27	0.00	0.00	2.48	(2.42)	11.88
EKH	0.46	0.02	(0.03)	0.24	0.63	(1.20)	1.63	(0.98)	2.99
BIZ	0.53	0.24	0.24	(2.63)	0.00	(0.92)	1.51	(0.50)	3.83
WPH	1.45	0.33	0.13	(41.48)	1.34	(2.18)	3.94	(1.77)	12.36

Master Style Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Master Style stock to make a market-neutral strategy. Peer analysis of Master Style could also be used in its relative valuation, which is a method of valuing Master Style by comparing valuation metrics with similar companies.

Mahachai Hospital Public Ratchaphruek Hospital Public Rajthanee Hospital Public Ladprao General Hospital Thai Optical Group Nonthavej Hospital Public Aikchol Hospital Public Ekachai Medical Care Business Alignment Public Wattanapat Hospital Trang American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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