Melco International Correlations

MDEVF Stock

USD 0.57 0.00 0.00%

The correlation of Melco International 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.

Melco International Correlation With Market

Excellent diversification

The correlation between Melco International Developmen and DJI is -0.61 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Melco International Developmen and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Melco Pink Sheet

0.75

GIGNF

Genting Singapore

Pair Corr

Moving against Melco Pink Sheet

0.71	MRLWF	Marlowe Plc	Pair Corr
0.69	ISRMF	iShares MSCI	Pair Corr
0.47	GOOD	Gladstone Commercial Earnings Call This Week	Pair Corr
0.32	KNTK	Kinetik Holdings	Pair Corr
0.82	UMAC	Unusual Machines	Pair Corr
0.68	BLAGF	Blue Lagoon Resources	Pair Corr
0.67	GAYMF	Galway Metals	Pair Corr
0.54	EMMA	Emmaus Life Sciences	Pair Corr
0.54	YLLXF	Yellow Cake plc Downward Rally	Pair Corr
0.45	CAMZF	Camino Minerals	Pair Corr
0.44	CYD	China Yuchai Interna	Pair Corr
0.43	JOE	St Joe Company	Pair Corr
0.39	ANF	Abercrombie Fitch	Pair Corr
0.38	NWTG	Newton Golf Symbol Change	Pair Corr
0.73	GS	Goldman Sachs Group	Pair Corr
0.65	FRFFF	Fairfax Financial	Pair Corr
0.5	INTC	Intel	Pair Corr
0.5	LRDC	Laredo Oil	Pair Corr
0.49	TOGOF	TomaGold	Pair Corr
0.46	BNEFF	Bonterra Energy Corp	Pair Corr
0.42	PYTCY	Playtech PLC ADR	Pair Corr

Related Correlations Analysis

	TABCF	HKSHF	NKRKY	SFRGY	PYTCY	SFRGF	HELFY	PYTCF	CTMLF	FKRAF
TABCF		-0.83	-0.39	-0.07	-0.24	-0.49	-0.06	-0.59	0.06	-0.17	TABCF
HKSHF	-0.83		0.54	-0.06	0.38	0.58	0.0	0.57	0.0	0.21	HKSHF
NKRKY	-0.39	0.54		-0.48	0.84	0.86	0.03	0.58	0.14	-0.38	NKRKY
SFRGY	-0.07	-0.06	-0.48		-0.68	-0.18	0.08	0.11	-0.05	0.54	SFRGY
PYTCY	-0.24	0.38	0.84	-0.68		0.62	-0.03	0.26	0.12	-0.47	PYTCY
SFRGF	-0.49	0.58	0.86	-0.18	0.62		0.06	0.8	0.24	-0.16	SFRGF
HELFY	-0.06	0.0	0.03	0.08	-0.03	0.06		0.26	-0.21	0.03	HELFY
PYTCF	-0.59	0.57	0.58	0.11	0.26	0.8	0.26		0.12	0.08	PYTCF
CTMLF	0.06	0.0	0.14	-0.05	0.12	0.24	-0.21	0.12		-0.1	CTMLF
FKRAF	-0.17	0.21	-0.38	0.54	-0.47	-0.16	0.03	0.08	-0.1		FKRAF
	TABCF	HKSHF	NKRKY	SFRGY	PYTCY	SFRGF	HELFY	PYTCF	CTMLF	FKRAF

Please upgrade your account to get full access to Macroaxis premium features

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

SFRGF	+ 0.86	NKRKY
PYTCY	+ 0.84	NKRKY
PYTCF	+ 0.8	SFRGF
SFRGF	+ 0.62	PYTCY
SFRGF	+ 0.58	HKSHF
PYTCF	+ 0.58	NKRKY

High negative correlations

HKSHF	- 0.83	TABCF
PYTCY	- 0.68	SFRGY
PYTCF	- 0.59	TABCF
SFRGF	- 0.49	TABCF
SFRGY	- 0.48	NKRKY
FKRAF	- 0.47	PYTCY

Risk-Adjusted Indicators

There is a big difference between Melco Pink Sheet performing well and Melco International 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 Melco International'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
TABCF	0.39	(0.21)	0.00	20.97	0.00	0.00	0.00	0.00	13.04
HKSHF	0.28	0.15	0.00	(0.51)	0.00	0.00	0.00	0.00	8.22
NKRKY	1.33	0.51	0.25	2.57	0.75	(2.35)	4.72	(2.27)	8.85
SFRGY	2.95	0.07	0.00	(0.27)	3.72	(3.11)	7.31	(5.84)	17.55
PYTCY	0.94	0.38	0.00	(9.13)	0.00	0.00	0.00	0.00	34.66
SFRGF	2.25	1.04	0.00	0.66	0.00	0.00	0.00	0.00	63.64
HELFY	2.46	(0.15)	0.00	(0.05)	0.00	0.00	4.93	(5.52)	21.67
PYTCF	1.29	0.35	0.00	15.91	0.00	0.00	0.00	0.00	29.74
CTMLF	2,737	1,446	0.00	(1.44)	0.00	0.00	0.00	0.00	91,700
FKRAF	0.16	0.00	0.00	0.14	0.00	0.00	0.00	0.00	7.59

Be your own money manager

Our tools can tell you how much better you can do entering a position in Melco International 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.

Did you try this?

Run Content Syndication Now

Content Syndication

Quickly integrate customizable finance content to your own investment portal

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2026 Macroaxis LLC