Melco International Correlations

MDEVF Stock

USD 0.51 0.04 7.27%

The current 90-days correlation between Melco International and Tabcorp Holdings Limited is -0.02 (i.e., Good diversification). 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

Average diversification

The correlation between Melco International Developmen and DJI is 0.17 (i.e., Average 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 against Melco Pink Sheet

0.8	OSBK	Oconee Financial	Pair Corr
0.77	LVS	Las Vegas Sands	Pair Corr
0.72	M	Macys Inc	Pair Corr
0.66	MDU	MDU Resources Group	Pair Corr
0.61	IMDX	Insight Molecular Symbol Change	Pair Corr
0.59	GNFT	Genfit SA	Pair Corr
0.49	BRC	Brady	Pair Corr
0.48	SCHYF	Sands China	Pair Corr
0.48	WMT	Walmart Common Stock	Pair Corr
0.48	VKTX	Viking Therapeutics	Pair Corr
0.43	MGM	MGM Resorts International	Pair Corr
0.43	GSVRF	Guanajuato Silver	Pair Corr
0.38	BHP	BHP Group Limited	Pair Corr
0.35	CENX	Century Aluminum	Pair Corr
0.34	DDL	Dingdong Limited ADR Buyout Trend	Pair Corr
0.79	TWLO	Twilio Inc	Pair Corr
0.79	AAM	AA Mission Acquisition	Pair Corr
0.76	AXTI	AXT Inc Trending	Pair Corr
0.75	TDC	Teradata Corp	Pair Corr
0.73	ARMP	Armata Pharmaceuticals Upward Rally	Pair Corr
0.71	URGN	UroGen Pharma	Pair Corr
0.71	TPRP	Tower Properties	Pair Corr
0.7	CTRA	Coterra Energy	Pair Corr
0.68	MCDIF	Mcdermott International	Pair Corr
0.66	AXS	AXIS Capital Holdings	Pair Corr

Related Correlations Analysis

	TABCF	HKSHF	NKRKY	SFRGY	PYTCY	SFRGF	HELFY	PYTCF	CTMLF	FKRAF
TABCF		-0.51	-0.53	-0.67	0.51	-0.61	0.62	0.15	0.0	-0.69	TABCF
HKSHF	-0.51		0.44	0.62	-0.51	0.44	-0.39	-0.33	0.0	-0.03	HKSHF
NKRKY	-0.53	0.44		0.77	-0.61	0.75	-0.41	-0.17	0.0	0.26	NKRKY
SFRGY	-0.67	0.62	0.77		-0.88	0.64	-0.75	-0.56	0.0	0.42	SFRGY
PYTCY	0.51	-0.51	-0.61	-0.88		-0.41	0.86	0.79	0.0	-0.35	PYTCY
SFRGF	-0.61	0.44	0.75	0.64	-0.41		-0.41	0.11	0.0	0.38	SFRGF
HELFY	0.62	-0.39	-0.41	-0.75	0.86	-0.41		0.68	0.0	-0.64	HELFY
PYTCF	0.15	-0.33	-0.17	-0.56	0.79	0.11	0.68		0.0	-0.14	PYTCF
CTMLF	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	CTMLF
FKRAF	-0.69	-0.03	0.26	0.42	-0.35	0.38	-0.64	-0.14	0.0		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

HELFY	+ 0.86	PYTCY
PYTCF	+ 0.79	PYTCY
SFRGY	+ 0.77	NKRKY
SFRGF	+ 0.75	NKRKY
PYTCF	+ 0.68	HELFY
SFRGF	+ 0.64	SFRGY

High negative correlations

PYTCY	- 0.88	SFRGY
HELFY	- 0.75	SFRGY
FKRAF	- 0.69	TABCF
SFRGY	- 0.67	TABCF
FKRAF	- 0.64	HELFY
PYTCY	- 0.61	NKRKY

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	0.43	(0.15)	0.00	(0.80)	0.00	0.00	0.00	0.00	19.10
HKSHF	0.61	0.22	0.00	(0.40)	0.00	0.00	0.00	0.00	18.86
NKRKY	1.48	0.00	0.11	0.00	1.42	(2.70)	4.44	(3.46)	17.70
SFRGY	3.04	0.54	0.13	0.90	3.22	(3.35)	7.56	(5.84)	17.52
PYTCY	1.21	(0.54)	0.00	1.34	0.00	0.00	0.00	(6.17)	16.43
SFRGF	2.25	1.03	0.00	0.60	0.00	0.00	0.00	0.00	63.64
HELFY	2.53	(0.23)	0.00	0.21	0.00	0.00	4.39	(6.25)	16.63
PYTCF	2.04	(0.39)	0.00	(1.27)	0.00	0.00	0.00	(11.11)	26.99
CTMLF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FKRAF	0.35	0.00	0.00	0.04	0.00	0.00	0.62	0.00	9.89

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 CEOs Directory Now

CEOs Directory

Screen CEOs from public companies around the world

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