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.
New |
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
| 0.76 | MC | MC Group Public | PairCorr |
| 0.77 | SABINA | Sabina Public | PairCorr |
| 0.87 | WACOAL | Thai Wacoal Public | PairCorr |
| 0.82 | CPH | Castle Peak Holdings | PairCorr |
| 0.77 | NC | Newcity Public | PairCorr |
| 0.66 | BAY | Bank of Ayudhya | PairCorr |
| 0.8 | PTT | PTT Public | PairCorr |
Moving against New Stock
| 0.87 | KBANK-R | Kasikornbank Public | PairCorr |
| 0.87 | KBANK | Kasikornbank Public | PairCorr |
| 0.78 | SCB | SCB X Public | PairCorr |
| 0.78 | SCB-R | Siam Commercial | PairCorr |
| 0.77 | BBL | Bangkok Bank Public | PairCorr |
| 0.76 | TISCO | TISCO Financial Group | PairCorr |
| 0.75 | KTC | Krungthai Card PCL | PairCorr |
| 0.75 | GYT | Goodyear Public | PairCorr |
| 0.71 | LHHOTEL | LH Hotel Leasehold | PairCorr |
| 0.66 | KTB | Krung Thai Bank | PairCorr |
| 0.63 | STGT-R | SRI TRANG GLOVES | PairCorr |
| 0.56 | TCAP-R | Thanachart Capital Public | PairCorr |
| 0.41 | WHAUP-R | WHA UTILITIES AND | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| PAF | 1.89 | (0.20) | 0.00 | 0.88 | 0.00 | 3.33 | 9.81 | |||
| NEP | 2.62 | 0.23 | 0.01 | (0.21) | 3.27 | 5.26 | 32.68 | |||
| OGC | 1.26 | (0.55) | 0.00 | 4.52 | 0.00 | 2.62 | 10.42 | |||
| MSC | 0.55 | (0.04) | 0.00 | 0.90 | 0.00 | 1.28 | 4.47 | |||
| NC | 3.19 | (0.18) | 0.00 | 1.21 | 0.00 | 5.74 | 32.38 |
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.Did you try this?
Run Risk-Return Analysis Now
Risk-Return AnalysisView associations between returns expected from investment and the risk you assume |
| All Next | Launch Module |