Orient Rental Correlations

ORM Stock

11.00 0.39 3.42%

The current 90-days correlation between Orient Rental Modaraba and Lucky Cement is -0.02 (i.e., Good diversification). The correlation of Orient Rental 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Orient Rental Correlation With Market

Modest diversification

The correlation between Orient Rental Modaraba and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Orient Rental Modaraba and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Orient Stock

0.73	FFL	Fauji Foods	Pair Corr
0.62	MARI	Mari Energies	Pair Corr
0.78	KAPCO	KOT Addu Power	Pair Corr
0.72	MUGHAL-CFEB	Mughal Iron	Pair Corr
0.63	HTL	Hi Tech Lubricants	Pair Corr
0.77	FFL-CFEB	Fauji Foods	Pair Corr
0.78	FCCL	Fauji Cement	Pair Corr
0.83	MLCF	Maple Leaf Cement	Pair Corr

Moving against Orient Stock

0.44	TCORPCPS	Tariq CorpPref	Pair Corr
0.35	REWM	Reliance Weaving Mills	Pair Corr

Related Correlations Analysis

	OGDC	PSO	PPL	FFC	HBL	MARI	MCB	UBL	LUCK
OGDC		0.4	0.97	0.47	0.74	0.27	0.78	0.83	0.2	OGDC
PSO	0.4		0.52	0.7	0.58	0.92	0.22	0.12	0.83	PSO
PPL	0.97	0.52		0.57	0.77	0.4	0.74	0.8	0.34	PPL
FFC	0.47	0.7	0.57		0.54	0.69	0.32	0.26	0.55	FFC
HBL	0.74	0.58	0.77	0.54		0.6	0.86	0.77	0.58	HBL
MARI	0.27	0.92	0.4	0.69	0.6		0.22	0.08	0.84	MARI
MCB	0.78	0.22	0.74	0.32	0.86	0.22		0.93	0.22	MCB
UBL	0.83	0.12	0.8	0.26	0.77	0.08	0.93		0.07	UBL
LUCK	0.2	0.83	0.34	0.55	0.58	0.84	0.22	0.07		LUCK
	OGDC	PSO	PPL	FFC	HBL	MARI	MCB	UBL	LUCK

Risk-Adjusted Indicators

There is a big difference between Orient Stock performing well and Orient Rental 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 Orient Rental'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
OGDC	1.41	0.18	0.07	0.74	1.58	(1.53)	2.87	(3.17)	11.39
PSO	1.35	(0.20)	0.00	(0.78)	0.00	0.00	2.37	(4.11)	9.21
PPL	1.77	0.12	0.04	0.33	2.13	(1.93)	3.47	(3.39)	11.49
FFC	1.31	(0.04)	0.00	3.03	0.00	0.00	3.20	(2.38)	18.68
HBL	1.36	0.07	0.01	0.37	1.49	(1.55)	2.78	(2.71)	13.55
MARI	0.76	(0.23)	0.00	(1.73)	0.00	0.00	1.37	(2.28)	6.52
MCB	1.29	0.12	0.08	0.21	1.23	(1.52)	2.99	(2.25)	12.03
UBL	1.39	0.25	0.12	1.36	1.33	(1.66)	3.09	(2.47)	13.49
LUCK	1.60	(0.07)	0.00	(0.03)	0.00	0.00	3.41	(2.64)	10.72

Be your own money manager

Our tools can tell you how much better you can do entering a position in Orient Rental 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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