New Plus Correlations

NPK Stock  THB 12.10  1.00  9.01%   
The current 90-days correlation between New Plus Knitting and Newcity Public is 0.21 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as New Plus moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if New Plus Knitting moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

New Plus Correlation With Market

Significant diversification

The correlation between New Plus Knitting and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding New Plus Knitting and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to New Plus could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace New Plus 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 New Plus - 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 New Plus Knitting to buy it.

Moving together with New Stock

  0.76MC MC Group PublicPairCorr
  0.77SABINA Sabina PublicPairCorr
  0.87WACOAL Thai Wacoal PublicPairCorr
  0.82CPH Castle Peak HoldingsPairCorr
  0.77NC Newcity PublicPairCorr
  0.66BAY Bank of AyudhyaPairCorr
  0.8PTT PTT PublicPairCorr

Moving against New Stock

  0.87KBANK-R Kasikornbank PublicPairCorr
  0.87KBANK Kasikornbank PublicPairCorr
  0.78SCB SCB X PublicPairCorr
  0.78SCB-R Siam CommercialPairCorr
  0.77BBL Bangkok Bank PublicPairCorr
  0.76TISCO TISCO Financial GroupPairCorr
  0.75KTC Krungthai Card PCLPairCorr
  0.75GYT Goodyear PublicPairCorr
  0.71LHHOTEL LH Hotel LeaseholdPairCorr
  0.66KTB Krung Thai BankPairCorr
  0.63STGT-R SRI TRANG GLOVESPairCorr
  0.56TCAP-R Thanachart Capital PublicPairCorr
  0.41WHAUP-R WHA UTILITIES ANDPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between New Stock performing well and New Plus 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 New Plus' 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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in New Plus 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.

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Risk-Return Analysis

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