Ming Shing Correlations

MSW Stock

USD 1.13 0.18 13.74%

The current 90-days correlation between Ming Shing Group and Megan Holdings Limited is 0.18 (i.e., Average 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

Excellent diversification

The correlation between Ming Shing Group and DJI is -0.65 (i.e., Excellent 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 main economic indicators.

Moving together with Ming Stock

0.64	002551	Shenzhen Glory Medical	Pair Corr
0.72	603176	Huitong Construction	Pair Corr
0.7	600512	Tengda Construction	Pair Corr
0.87	600545	Saurer Intelligent	Pair Corr
0.74	601789	Ningbo Construction	Pair Corr
0.72	300732	Henan Provincial Com	Pair Corr
0.71	002062	Hongrun Construction	Pair Corr
0.82	600491	Long Yuan Construction	Pair Corr
0.85	601618	Metallurgical	Pair Corr
0.79	JD	JD Inc Adr	Pair Corr
0.8	HNHPF	Hon Hai Precision	Pair Corr

Moving against Ming Stock

0.89	GVA	Granite Construction	Pair Corr
0.87	MSP	Minaean SP Construction Split	Pair Corr
0.81	DY	Dycom Industries	Pair Corr
0.68	FER	Ferrovial SE	Pair Corr
0.65	MTZ	MasTec Inc	Pair Corr
0.36	FIX	Comfort Systems USA	Pair Corr
0.35	601068	China Aluminum Inter	Pair Corr
0.83	SAR	Saratoga Investment Corp	Pair Corr
0.78	WMT	Walmart Common Stock	Pair Corr
0.77	ACN	Accenture plc	Pair Corr
0.74	VLKAF	Volkswagen AG	Pair Corr
0.74	VWAGY	Volkswagen AG 110	Pair Corr
0.42	600477	Hang Xiao Steel	Pair Corr

Related Correlations Analysis

	MGN	XTIA	PRZO	NIXX	QRHC	SIDU	SGRP	STI	GLBS	TOPS
MGN		0.05	0.28	-0.22	0.46	-0.19	-0.38	-0.24	0.38	0.16	MGN
XTIA	0.05		0.36	-0.26	0.11	0.57	0.01	0.14	0.14	-0.08	XTIA
PRZO	0.28	0.36		0.34	-0.36	-0.27	0.53	0.61	-0.43	0.72	PRZO
NIXX	-0.22	-0.26	0.34		-0.77	-0.58	0.83	0.66	-0.7	0.61	NIXX
QRHC	0.46	0.11	-0.36	-0.77		0.41	-0.88	-0.8	0.78	-0.59	QRHC
SIDU	-0.19	0.57	-0.27	-0.58	0.41		-0.42	-0.36	0.58	-0.72	SIDU
SGRP	-0.38	0.01	0.53	0.83	-0.88	-0.42		0.83	-0.83	0.71	SGRP
STI	-0.24	0.14	0.61	0.66	-0.8	-0.36	0.83		-0.78	0.66	STI
GLBS	0.38	0.14	-0.43	-0.7	0.78	0.58	-0.83	-0.78		-0.67	GLBS
TOPS	0.16	-0.08	0.72	0.61	-0.59	-0.72	0.71	0.66	-0.67		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	+ 0.83	NIXX
STI	+ 0.83	SGRP
GLBS	+ 0.78	QRHC
TOPS	+ 0.72	PRZO
TOPS	+ 0.71	SGRP
STI	+ 0.66	NIXX

High negative correlations

SGRP	- 0.88	QRHC
GLBS	- 0.83	SGRP
STI	- 0.8	QRHC
GLBS	- 0.78	STI
QRHC	- 0.77	NIXX
TOPS	- 0.72	SIDU

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	5.30	0.06	0.02	0.07	4.83	(8.14)	13.92	(8.06)	28.48
XTIA	4.60	0.34	0.08	0.27	4.56	(5.67)	11.24	(7.91)	25.06
PRZO	5.77	(0.19)	0.00	(0.06)	0.00	0.00	11.20	(9.60)	53.90
NIXX	3.59	(0.96)	0.00	(0.57)	0.00	0.00	6.90	(8.41)	33.17
QRHC	4.53	1.07	0.23	(0.81)	3.61	(6.16)	9.43	(6.40)	30.43
SIDU	11.69	2.47	0.27	0.75	8.49	(17.32)	34.88	(14.96)	125.36
SGRP	1.79	(0.43)	0.00	(0.85)	0.00	0.00	3.49	(3.66)	17.23
STI	6.34	(0.68)	0.00	(0.38)	0.00	0.00	15.82	(10.75)	34.94
GLBS	3.12	0.56	0.12	1.97	3.00	(4.71)	12.58	(7.01)	26.30
TOPS	1.85	(0.29)	0.00	(0.28)	0.00	0.00	3.65	(4.23)	11.61

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