Multi Ways Correlations

MWG Stock

0.24 0.01 4.04%

The current 90-days correlation between Multi Ways Holdings and African Discovery Group is -0.05 (i.e., Good diversification). The correlation of Multi Ways 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.

Multi Ways Correlation With Market

Significant diversification

The correlation between Multi Ways Holdings and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Multi Ways Holdings and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Multi Stock

0.71	ZCAR	Zoomcar Holdings Symbol Change	Pair Corr
0.77	TRTN-PD	Triton International	Pair Corr

Moving against Multi Stock

0.87	WLFC	Willis Lease Finance	Pair Corr
0.79	HEES	HE Equipment Services	Pair Corr
0.77	HRI	Herc Holdings	Pair Corr
0.7	FTAI	Fortress Transp Infra	Pair Corr
0.68	FTAIM	FTAI Aviation	Pair Corr
0.63	FPAY	FlexShopper	Pair Corr
0.58	R	Ryder System	Pair Corr
0.58	URI	United Rentals Fiscal Year End 22nd of January 2025	Pair Corr
0.52	GATX	GATX Fiscal Year End 28th of January 2025	Pair Corr
0.45	CAR	Avis Budget Group	Pair Corr
0.44	AL	Air Lease	Pair Corr
0.38	AER	AerCap Holdings NV	Pair Corr
0.93	B	Barnes Group	Pair Corr
0.86	ALTG-PA	Alta Equipment Group	Pair Corr
0.81	J	Jacobs Solutions	Pair Corr
0.81	CW	Curtiss Wright Downward Rally	Pair Corr
0.79	AZ	A2Z Smart Technologies Tech Boost	Pair Corr
0.64	BR	Broadridge Financial	Pair Corr
0.61	BV	BrightView Holdings	Pair Corr
0.58	EH	Ehang Holdings	Pair Corr
0.55	BW	Babcock Wilcox Enter	Pair Corr
0.55	CR	Crane Company	Pair Corr
0.5	G	Genpact Limited	Pair Corr
0.47	CTOS	Custom Truck One	Pair Corr
0.46	BE	Bloom Energy Corp Downward Rally	Pair Corr
0.43	TRTN-PB	Triton International	Pair Corr

Related Correlations Analysis

	FPAY	HTZ	HYREQ	CAR	PRG	AAN	FTAIN	ASHTY	ASHTF
FPAY		0.8	-0.62	0.69	-0.13	0.76	0.2	0.14	0.29	FPAY
HTZ	0.8		-0.33	0.83	0.29	0.58	0.31	0.19	0.3	HTZ
HYREQ	-0.62	-0.33		-0.49	0.28	-0.69	-0.29	-0.31	-0.38	HYREQ
CAR	0.69	0.83	-0.49		0.26	0.6	0.38	0.48	0.52	CAR
PRG	-0.13	0.29	0.28	0.26		-0.17	0.07	0.27	0.25	PRG
AAN	0.76	0.58	-0.69	0.6	-0.17		0.48	0.25	0.33	AAN
FTAIN	0.2	0.31	-0.29	0.38	0.07	0.48		0.07	0.04	FTAIN
ASHTY	0.14	0.19	-0.31	0.48	0.27	0.25	0.07		0.86	ASHTY
ASHTF	0.29	0.3	-0.38	0.52	0.25	0.33	0.04	0.86		ASHTF
	FPAY	HTZ	HYREQ	CAR	PRG	AAN	FTAIN	ASHTY	ASHTF

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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

ASHTF	+ 0.86	ASHTY
CAR	+ 0.83	HTZ
HTZ	+ 0.8	FPAY
AAN	+ 0.76	FPAY
CAR	+ 0.69	FPAY
AAN	+ 0.6	CAR

High negative correlations

AAN	- 0.69	HYREQ
HYREQ	- 0.62	FPAY
CAR	- 0.49	HYREQ
ASHTF	- 0.38	HYREQ
HYREQ	- 0.33	HTZ
ASHTY	- 0.31	HYREQ

Risk-Adjusted Indicators

There is a big difference between Multi Stock performing well and Multi Ways 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 Multi Ways' 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
FPAY	4.02	1.03	0.18	(1.69)	4.11	(4.75)	9.52	(6.76)	24.33
HTZ	3.85	0.36	0.09	0.29	4.08	(4.22)	8.61	(8.50)	21.19
HYREQ	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CAR	2.66	0.12	0.09	0.13	2.43	(3.14)	6.39	(4.06)	16.84
PRG	1.60	(0.21)	0.00	(0.03)	0.00	0.00	2.35	(2.53)	14.99
AAN	0.25	0.02	(0.12)	0.55	0.24	(0.32)	0.61	(0.40)	1.81
FTAIN	0.49	0.02	(0.06)	0.15	0.64	(0.51)	1.07	(1.02)	4.21
ASHTY	1.55	(0.20)	0.00	(0.06)	0.00	0.00	2.96	(2.22)	18.70
ASHTF	1.65	(0.08)	0.00	(0.04)	0.00	0.00	3.32	(2.65)	20.98

Multi Ways Corporate Management

Cheon Tan	Financial Controller	Profile
Mei Lim	Deputy Officer	Profile
Pei Lee	Chief Officer	Profile
Noon Tan	Financial Controller	Profile
Lu Tan	Chief Officer	Profile

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