Ming Shing Correlations

MSW Stock

USD 1.03 0.03 3.00%

The current 90-days correlation between Ming Shing Group and Megan Holdings Limited is 0.34 (i.e., Weak diversification). The correlation of Ming Shing 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.

Ming Shing Correlation With Market

Average diversification

The correlation between Ming Shing Group and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ming Shing Group and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Ming Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Ming Shing Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with Ming Stock

0.68	002551	Shenzhen Glory Medical	Pair Corr
0.86	ACM	Aecom Technology	Pair Corr
0.66	EME	EMCOR Group	Pair Corr
0.69	603176	Huitong Construction	Pair Corr
0.86	600170	Shanghai Construction	Pair Corr
0.81	600545	Saurer Intelligent	Pair Corr
0.81	601789	Ningbo Construction	Pair Corr
0.83	300732	Henan Provincial Com	Pair Corr
0.71	002062	Hongrun Construction	Pair Corr
0.68	601186	China Railway Constr	Pair Corr
0.92	600491	Long Yuan Construction	Pair Corr
0.88	ONEG	OneConstruction Group	Pair Corr
0.83	601618	Metallurgical	Pair Corr
0.67	ROAD	Construction Partners	Pair Corr
0.87	AMRC	Ameresco	Pair Corr
0.88	SPAI	Safe Pro Group	Pair Corr

Moving against Ming Stock

0.89	HUHU	HUHUTECH International Downward Rally	Pair Corr
0.8	FER	Ferrovial SE	Pair Corr
0.79	GLDD	Great Lakes Dredge	Pair Corr
0.69	002822	Shenzhen Zhongzhuang	Pair Corr
0.66	GVA	Granite Construction	Pair Corr
0.6	ORN	Orion Group Holdings	Pair Corr
0.56	600496	Changjiang Jinggong Steel	Pair Corr
0.53	002307	Xinjiang Beixin Road	Pair Corr
0.31	601068	China Aluminum Inter	Pair Corr
0.81	NWPX	Northwest Pipe	Pair Corr
0.78	MRLWF	Marlowe Plc	Pair Corr
0.74	SHA	Shape Australia	Pair Corr
0.52	ISRMF	iShares MSCI	Pair Corr
0.51	AMPH	Amphastar P	Pair Corr
0.43	600853	Longjian Road Bridge	Pair Corr
0.42	DRT	DIRTT Environmental	Pair Corr
0.41	MSP	Minaean SP Construction Split	Pair Corr

Related Correlations Analysis

	MGN	XTIA	PRZO	NIXX	QRHC	SIDU	SGRP	STI	GLBS	TOPS
MGN		0.17	0.71	0.62	-0.24	-0.11	0.24	-0.07	-0.26	0.15	MGN
XTIA	0.17		0.56	0.42	-0.48	-0.2	0.61	0.22	-0.46	0.53	XTIA
PRZO	0.71	0.56		0.77	-0.56	-0.38	0.68	0.3	-0.65	0.62	PRZO
NIXX	0.62	0.42	0.77		-0.79	-0.14	0.8	0.44	-0.66	0.39	NIXX
QRHC	-0.24	-0.48	-0.56	-0.79		0.14	-0.9	-0.47	0.78	-0.46	QRHC
SIDU	-0.11	-0.2	-0.38	-0.14	0.14		-0.28	-0.1	0.4	-0.76	SIDU
SGRP	0.24	0.61	0.68	0.8	-0.9	-0.28		0.44	-0.84	0.66	SGRP
STI	-0.07	0.22	0.3	0.44	-0.47	-0.1	0.44		-0.3	0.31	STI
GLBS	-0.26	-0.46	-0.65	-0.66	0.78	0.4	-0.84	-0.3		-0.58	GLBS
TOPS	0.15	0.53	0.62	0.39	-0.46	-0.76	0.66	0.31	-0.58		TOPS
	MGN	XTIA	PRZO	NIXX	QRHC	SIDU	SGRP	STI	GLBS	TOPS

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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

SGRP	+ 0.8	NIXX
GLBS	+ 0.78	QRHC
NIXX	+ 0.77	PRZO
PRZO	+ 0.71	MGN
SGRP	+ 0.68	PRZO
TOPS	+ 0.66	SGRP

High negative correlations

SGRP	- 0.9	QRHC
GLBS	- 0.84	SGRP
QRHC	- 0.79	NIXX
TOPS	- 0.76	SIDU
GLBS	- 0.66	NIXX
GLBS	- 0.65	PRZO

Risk-Adjusted Indicators

There is a big difference between Ming Stock performing well and Ming Shing 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 Ming Shing'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
MGN	5.88	(0.83)	0.00	(0.49)	0.00	0.00	13.92	(9.55)	32.30
XTIA	4.19	0.04	0.04	0.09	4.57	(4.57)	10.49	(7.55)	25.06
PRZO	5.11	(0.36)	0.00	(0.07)	0.00	0.00	9.22	(8.47)	24.66
NIXX	3.65	(0.53)	0.00	(0.41)	0.00	0.00	7.30	(6.96)	33.17
QRHC	4.33	0.24	0.07	0.18	4.16	(5.71)	9.27	(7.05)	24.19
SIDU	10.41	2.72	0.36	0.59	7.23	(15.09)	34.88	(12.27)	125.36
SGRP	1.77	(0.20)	0.00	(0.47)	0.00	0.00	3.85	(3.66)	17.23
STI	13.83	3.01	0.40	0.31	8.57	(20.96)	18.45	(17.15)	317.39
GLBS	3.64	0.83	0.17	1.26	3.26	(5.17)	12.58	(7.01)	26.30
TOPS	1.70	(0.22)	0.00	(0.55)	0.00	0.00	3.41	(4.23)	12.72

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