New World Correlations
| NWWDF Stock | USD 0.94 0.00 0.00% |
The current 90-days correlation between New World Development and China Overseas Property is -0.09 (i.e., Good diversification). The correlation of New World 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.
New World Correlation With Market
Average diversification
The correlation between New World Development 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 New World Development and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to New World 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 World 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 World - 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 World Development to buy it.
Moving together with New Pink Sheet
| 0.61 | HLDCY | Henderson Land Devel | PairCorr |
| 0.68 | PPERY | Bank Mandiri Persero | PairCorr |
| 0.72 | TLK | Telkom Indonesia Tbk | PairCorr |
| 0.83 | PTAIY | Astra International Tbk | PairCorr |
| 0.63 | CASXF | Casa Minerals | PairCorr |
| 0.72 | NAUFF | NevGold Corp | PairCorr |
| 0.82 | DGWPF | Drgerwerk AG | PairCorr |
| 0.68 | IBM | International Business | PairCorr |
| 0.7 | CAT | Caterpillar | PairCorr |
| 0.77 | KO | Coca Cola | PairCorr |
| 0.65 | DD | Dupont De Nemours | PairCorr |
| 0.79 | AXP | American Express | PairCorr |
| 0.65 | BAC | Bank of America Earnings Call This Week | PairCorr |
Moving against New Pink Sheet
| 0.6 | DIFTY | Daito Trust Construction | PairCorr |
| 0.52 | NDVLY | New World Development | PairCorr |
| 0.43 | SPHXF | SM Prime Holdings | PairCorr |
| 0.57 | T | ATT Inc | PairCorr |
| 0.54 | HD | Home Depot Sell-off Trend | PairCorr |
| 0.42 | MSFT | Microsoft | PairCorr |
| 0.39 | HPQ | HP Inc | PairCorr |
| 0.32 | PG | Procter Gamble | PairCorr |
Related Correlations Analysis
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
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Risk-Adjusted Indicators
There is a big difference between New Pink Sheet performing well and New World 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 World'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| UILCF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| UILCY | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| CNPPF | 0.72 | 0.26 | 0.00 | (0.52) | 0.00 | 0.00 | 23.33 | |||
| CJNHF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| FRSHY | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| GRNNF | 0.50 | (0.11) | 0.00 | 1.33 | 0.00 | 0.00 | 11.85 | |||
| ARLLF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| LLESF | 0.49 | (0.17) | 0.00 | 1.79 | 0.00 | 0.00 | 16.17 | |||
| HYSNF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| ENTOF | 0.03 | 0.00 | 0.00 | 0.33 | 0.00 | 0.00 | 0.90 |
Be your own money manager
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New World Corporate Management
| BA DBA | Ex MD | Profile | |
| ShaoMei Huang | Ex Director | Profile | |
| JP JP | Ex CEO | Profile | |
| ChiMan Cheng | Ex Director | Profile | |
| Aldous Chiu | Gen Relations | Profile | |
| ChiHeng Cheng | Ex Director | Profile | |
| SiuCheung JP | Ex Director | Profile |