PHINMA Corp Correlations

PHN Stock

18.50 0.50 2.78%

The current 90-days correlation between PHINMA Corp and SM Investments Corp is -0.08 (i.e., Good diversification). The correlation of PHINMA 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.

PHINMA Corp Correlation With Market

Significant diversification

The correlation between PHINMA Corp and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PHINMA Corp and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to PHINMA 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 PHINMA 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 PHINMA 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 PHINMA Corp to buy it.

Moving together with PHINMA Stock

0.73	SM	SM Investments Corp	Pair Corr
0.83	AC	Ayala Corp	Pair Corr
0.85	ALI	Ayala Land	Pair Corr
0.74	TEL	PLDT Inc	Pair Corr
0.84	BPI	Bank of the	Pair Corr
0.62	AEV	Aboitiz Equity Ventures	Pair Corr
0.66	MBT	Metropolitan Bank Trust	Pair Corr
0.65	RCB	Rizal Commercial Banking	Pair Corr

Moving against PHINMA Stock

0.85	VREIT	VistaREIT	Pair Corr
0.84	ABG	Asiabest Group Inter	Pair Corr
0.73	STI	STI Education Systems	Pair Corr
0.68	CREIT	Citicore Energy REIT	Pair Corr
0.65	AUB	Asia United Bank	Pair Corr
0.63	AB	Atok Big Wedge	Pair Corr
0.38	PNB	Philippine National Bank	Pair Corr
0.35	ALCPD	ArthaLand Corp Preferred	Pair Corr

Related Correlations Analysis

	SM	FB	AC	ALI	BDO	TEL	BPI	MER	AEV
SM		0.02	0.91	0.88	0.72	0.85	0.84	0.41	0.76	SM
FB	0.02		0.07	0.03	-0.26	-0.05	0.17	-0.08	-0.04	FB
AC	0.91	0.07		0.96	0.75	0.92	0.89	0.47	0.8	AC
ALI	0.88	0.03	0.96		0.77	0.95	0.85	0.51	0.83	ALI
BDO	0.72	-0.26	0.75	0.77		0.75	0.6	0.49	0.66	BDO
TEL	0.85	-0.05	0.92	0.95	0.75		0.77	0.5	0.86	TEL
BPI	0.84	0.17	0.89	0.85	0.6	0.77		0.37	0.61	BPI
MER	0.41	-0.08	0.47	0.51	0.49	0.5	0.37		0.41	MER
AEV	0.76	-0.04	0.8	0.83	0.66	0.86	0.61	0.41		AEV
	SM	FB	AC	ALI	BDO	TEL	BPI	MER	AEV

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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

ALI	+ 0.96	AC
TEL	+ 0.95	ALI
TEL	+ 0.92	AC
AC	+ 0.91	SM
BPI	+ 0.89	AC
ALI	+ 0.88	SM

High negative correlations

BDO	- 0.26	FB
MER	- 0.08	FB
TEL	- 0.05	FB
AEV	- 0.04	FB

Risk-Adjusted Indicators

There is a big difference between PHINMA Stock performing well and PHINMA 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 PHINMA 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	1.50	(0.23)	0.00	(1.00)	0.00	0.00	3.13	(2.67)	12.87
FB	0.94	(0.06)	0.00	0.35	0.00	0.00	2.02	(1.82)	8.55
AC	1.45	(0.34)	0.00	2.48	0.00	0.00	2.90	(3.94)	11.72
ALI	1.65	(0.50)	0.00	(34.12)	0.00	0.00	3.05	(4.05)	10.56
BDO	1.43	(0.10)	0.00	(2.25)	0.00	0.00	3.50	(3.85)	9.87
TEL	1.27	(0.23)	0.00	0.90	0.00	0.00	2.34	(2.67)	7.09
BPI	1.24	(0.19)	0.00	0.69	0.00	0.00	2.97	(2.64)	9.71
MER	1.59	0.07	0.03	(0.30)	1.59	(2.17)	4.38	(2.61)	10.78
AEV	1.45	(0.13)	0.00	0.54	0.00	0.00	2.94	(3.06)	9.35

Be your own money manager

Our tools can tell you how much better you can do entering a position in PHINMA Corp 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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