Overseas Chinese Correlations

OVCHY Stock

USD 25.63 0.34 1.31%

The current 90-days correlation between Overseas Chinese Banking and Swedbank AB is 0.22 (i.e., Modest diversification). The correlation of Overseas Chinese 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.

Overseas Chinese Correlation With Market

Significant diversification

The correlation between Overseas Chinese Banking and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Overseas Chinese Banking and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Overseas Pink Sheet

0.69	GILT	Gilat Satellite Networks	Pair Corr
0.81	V	Visa Class A	Pair Corr
0.65	DIS	Walt Disney Earnings Call This Week	Pair Corr

Moving against Overseas Pink Sheet

0.74	BBDC4	Banco Bradesco SA	Pair Corr
0.44	IBN	ICICI Bank Limited	Pair Corr
0.35	HDB	HDFC Bank Limited	Pair Corr
0.35	BNPQF	BNP Paribas SA	Pair Corr
0.34	BNPQY	BNP Paribas SA	Pair Corr
0.65	KO	Coca Cola Earnings Call This Week	Pair Corr
0.53	MRK	Merck Company Earnings Call This Week	Pair Corr
0.52	HPQ	HP Inc	Pair Corr
0.5	XOM	Exxon Mobil Corp Earnings Call Today	Pair Corr
0.44	INTC	Intel	Pair Corr
0.43	PFE	Pfizer Inc Earnings Call This Week	Pair Corr

Related Correlations Analysis

	SWDBY	KBCSY	NRDBY	DBSDY	UOVEY	PPERY	DBSDF	CMAKY	FFWM	HFWA
SWDBY		0.52	0.82	0.1	0.07	-0.04	-0.08	0.77	-0.47	-0.23	SWDBY
KBCSY	0.52		0.02	0.6	0.46	-0.7	0.47	0.63	-0.71	-0.12	KBCSY
NRDBY	0.82	0.02		-0.27	-0.22	0.46	-0.4	0.46	-0.04	-0.14	NRDBY
DBSDY	0.1	0.6	-0.27		0.95	-0.7	0.79	0.38	-0.14	0.45	DBSDY
UOVEY	0.07	0.46	-0.22	0.95		-0.58	0.76	0.36	0.01	0.59	UOVEY
PPERY	-0.04	-0.7	0.46	-0.7	-0.58		-0.73	-0.42	0.66	0.03	PPERY
DBSDF	-0.08	0.47	-0.4	0.79	0.76	-0.73		0.31	-0.19	0.4	DBSDF
CMAKY	0.77	0.63	0.46	0.38	0.36	-0.42	0.31		-0.59	-0.14	CMAKY
FFWM	-0.47	-0.71	-0.04	-0.14	0.01	0.66	-0.19	-0.59		0.54	FFWM
HFWA	-0.23	-0.12	-0.14	0.45	0.59	0.03	0.4	-0.14	0.54		HFWA
	SWDBY	KBCSY	NRDBY	DBSDY	UOVEY	PPERY	DBSDF	CMAKY	FFWM	HFWA

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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

UOVEY	+ 0.95	DBSDY
NRDBY	+ 0.82	SWDBY
DBSDF	+ 0.79	DBSDY
CMAKY	+ 0.77	SWDBY
DBSDF	+ 0.76	UOVEY
FFWM	+ 0.66	PPERY

High negative correlations

DBSDF	- 0.73	PPERY
FFWM	- 0.71	KBCSY
PPERY	- 0.7	DBSDY
PPERY	- 0.7	KBCSY
FFWM	- 0.59	CMAKY
PPERY	- 0.58	UOVEY

Risk-Adjusted Indicators

There is a big difference between Overseas Pink Sheet performing well and Overseas Chinese 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 Overseas Chinese'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
SWDBY	1.04	0.12	0.04	0.46	0.99	(1.19)	2.69	(1.95)	5.94
KBCSY	1.09	0.11	0.03	0.52	1.26	(1.22)	2.24	(2.00)	7.28
NRDBY	0.92	0.04	(0.03)	0.46	1.15	(0.93)	1.98	(1.96)	4.90
DBSDY	0.86	0.15	0.07	0.65	0.93	(0.95)	1.71	(1.79)	11.77
UOVEY	0.78	0.15	0.08	0.48	0.81	(0.87)	2.14	(1.42)	9.66
PPERY	1.67	(0.33)	0.00	(0.38)	0.00	0.00	2.82	(3.26)	10.73
DBSDF	2.63	0.30	0.05	(3.92)	3.31	(2.78)	6.55	(6.47)	14.81
CMAKY	1.45	0.32	0.07	6.42	1.37	(4.00)	4.74	(3.69)	18.78
FFWM	2.67	(0.21)	0.00	(3.13)	0.00	0.00	4.35	(5.31)	25.85
HFWA	1.41	0.18	0.08	0.39	1.57	(1.49)	2.91	(2.94)	21.63

Be your own money manager

Our tools can tell you how much better you can do entering a position in Overseas Chinese 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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Overseas Chinese Corporate Management

Khiang Lim	Head of Group Operations and Technology and Group Customer Experience and Executive VP	Profile
Pik Wong	Group Officer	Profile
Collins Chin	Head Relations	Profile
Yuen Ling	Exec Compliance	Profile
David Cheng	Head Fin	Profile
Kok Gan	Head - Global Treasury & Investment Banking	Profile

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