Omico Corp Correlations

OM Stock

0.14 0.01 7.69%

The current 90-days correlation between Omico Corp and Transpacific Broadband Group is 0.21 (i.e., Modest diversification). The correlation of Omico Corp 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.

Omico Corp Correlation With Market

Good diversification

The correlation between Omico Corp and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Omico Corp and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Omico Corp could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Omico Corp 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 Omico Corp - 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 Omico Corp to buy it.

Moving together with Omico Stock

0.76	BKR	Bright Kindle Resources	Pair Corr
0.71	FOOD	Alliance Select Foods	Pair Corr

Moving against Omico Stock

0.86	VLL	Vista Land	Pair Corr
0.84	MER	Manila Electric	Pair Corr
0.8	BPI	Bank of the	Pair Corr
0.68	AC	Ayala Corp	Pair Corr
0.51	FB	San Miguel Pure	Pair Corr
0.46	OPM	Oriental Petroleum and	Pair Corr
0.38	AEV	Aboitiz Equity Ventures	Pair Corr
0.31	SM	SM Investments Corp	Pair Corr

Related Correlations Analysis

	SM	CNVRG	TBGI	JFC	TFHI	FOOD	PBB
SM		0.5	0.0	0.52	-0.14	-0.07	-0.46	SM
CNVRG	0.5		-0.04	0.53	-0.35	-0.44	-0.04	CNVRG
TBGI	0.0	-0.04		0.06	-0.14	-0.24	0.31	TBGI
JFC	0.52	0.53	0.06		-0.21	-0.49	0.06	JFC
TFHI	-0.14	-0.35	-0.14	-0.21		0.44	-0.33	TFHI
FOOD	-0.07	-0.44	-0.24	-0.49	0.44		-0.54	FOOD
PBB	-0.46	-0.04	0.31	0.06	-0.33	-0.54		PBB
	SM	CNVRG	TBGI	JFC	TFHI	FOOD	PBB

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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

JFC	+ 0.53	CNVRG
JFC	+ 0.52	SM
CNVRG	+ 0.5	SM
FOOD	+ 0.44	TFHI
PBB	+ 0.31	TBGI
JFC	+ 0.06	TBGI

High negative correlations

PBB	- 0.54	FOOD
FOOD	- 0.49	JFC
PBB	- 0.46	SM
FOOD	- 0.44	CNVRG
TFHI	- 0.35	CNVRG
PBB	- 0.33	TFHI

Risk-Adjusted Indicators

There is a big difference between Omico Stock performing well and Omico Corp 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 Omico Corp'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
SM	1.29	(0.07)	0.00	0.56	0.00	0.00	2.27	(2.67)	12.87
CNVRG	1.94	0.07	(0.01)	0.70	2.16	(2.23)	4.78	(3.86)	11.77
TBGI	1.62	(0.02)	(0.01)	0.08	2.47	(7.69)	7.69	(7.14)	14.84
JFC	1.19	0.13	0.01	(1.56)	1.20	(1.39)	2.85	(2.21)	8.04
TFHI	3.24	(0.05)	0.00	0.18	0.00	0.00	9.98	(8.38)	27.45
FOOD	3.06	(0.10)	0.00	(0.04)	0.00	0.00	10.00	(6.98)	67.86
PBB	1.47	0.13	0.02	0.40	2.17	(1.70)	4.38	(4.69)	13.18

Omico Corp Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Omico Corp stock to make a market-neutral strategy. Peer analysis of Omico Corp could also be used in its relative valuation, which is a method of valuing Omico Corp by comparing valuation metrics with similar companies.

SM Investments Corp Converge Information Communications Transpacific Broadband Group Jollibee Foods Corp Top Frontier Investment Alliance Select Foods Philippine Business Bank American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp

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