Pak IntBulk Correlations

PIBTL-CFEB

17.52 1.20 6.41%

The current 90-days correlation between Pak IntBulk and National Refinery is 0.28 (i.e., Modest diversification). The correlation of Pak IntBulk 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.

Pak IntBulk Correlation With Market

Poor diversification

The correlation between Pak IntBulk and DJI is 0.6 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pak IntBulk and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Pak Stock

0.78	NATF	National Foods	Pair Corr
0.81	PPL-CFEB	Pak Petroleum	Pair Corr
0.89	JSML	Jauharabad Sugar Mills	Pair Corr
0.76	FFL-CFEB	Fauji Foods	Pair Corr
0.85	PTC	Pakistan Telecommunicatio	Pair Corr
0.63	ATLH	Atlas Honda	Pair Corr
0.8	MEBL	Meezan Bank	Pair Corr
0.76	PSYL	Pakistan Synthetics	Pair Corr
0.79	SMCPL	Safe Mix Concrete	Pair Corr
0.67	HTL	Hi Tech Lubricants	Pair Corr
0.66	CSAP	Crescent Steel Allied	Pair Corr
0.63	NCPL	Nishat Chunian Power	Pair Corr
0.83	AICL	Adamjee Insurance	Pair Corr
0.68	AGP	AGP	Pair Corr
0.68	MACFL	Macpac Films	Pair Corr
0.69	CSAP-CFEB	Crescent Steel	Pair Corr
0.9	PAKRI	Pakistan Reinsurance	Pair Corr
0.84	BOP	Bank of Punjab	Pair Corr

Related Correlations Analysis

	BAFS	MARI	MTL	MCB-CMAR	TCORPCPS	POL	ARUJ	ILP	EFERT-CMAR	NRL
BAFS		0.39	-0.46	-0.21	-0.33	-0.38	0.25	-0.42	-0.13	0.22	BAFS
MARI	0.39		-0.16	0.5	-0.72	0.06	0.24	-0.13	0.6	0.74	MARI
MTL	-0.46	-0.16		0.59	0.45	0.77	-0.76	0.9	0.58	0.16	MTL
MCB-CMAR	-0.21	0.5	0.59		-0.01	0.67	-0.37	0.59	0.78	0.51	MCB-CMAR
TCORPCPS	-0.33	-0.72	0.45	-0.01		0.19	-0.53	0.46	-0.16	-0.58	TCORPCPS
POL	-0.38	0.06	0.77	0.67	0.19		-0.61	0.72	0.68	0.42	POL
ARUJ	0.25	0.24	-0.76	-0.37	-0.53	-0.61		-0.72	-0.39	-0.03	ARUJ
ILP	-0.42	-0.13	0.9	0.59	0.46	0.72	-0.72		0.51	0.2	ILP
EFERT-CMAR	-0.13	0.6	0.58	0.78	-0.16	0.68	-0.39	0.51		0.61	EFERT-CMAR
NRL	0.22	0.74	0.16	0.51	-0.58	0.42	-0.03	0.2	0.61		NRL
	BAFS	MARI	MTL	MCB-CMAR	TCORPCPS	POL	ARUJ	ILP	EFERT-CMAR	NRL

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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

ILP	+ 0.9	MTL
EFERT-CMAR	+ 0.78	MCB-CMAR
POL	+ 0.77	MTL
NRL	+ 0.74	MARI
ILP	+ 0.72	POL
EFERT-CMAR	+ 0.68	POL

High negative correlations

ARUJ	- 0.76	MTL
ILP	- 0.72	ARUJ
TCORPCPS	- 0.72	MARI
ARUJ	- 0.61	POL
NRL	- 0.58	TCORPCPS
ARUJ	- 0.53	TCORPCPS

Risk-Adjusted Indicators

There is a big difference between Pak Stock performing well and Pak IntBulk 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 Pak IntBulk'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
BAFS	2.93	(0.09)	(0.01)	0.01	3.23	(3.90)	7.26	(5.48)	16.10
MARI	0.70	(0.15)	0.00	(1.17)	0.00	0.00	1.74	(2.11)	4.57
MTL	0.88	0.08	0.01	(0.40)	1.09	(0.96)	2.38	(1.69)	7.99
MCB-CMAR	1.61	(0.03)	(0.03)	0.02	1.76	(1.87)	5.41	(2.98)	12.03
TCORPCPS	4.69	1.31	0.18	(1.55)	4.55	(6.03)	10.03	(9.63)	21.15
POL	0.78	0.00	(0.06)	(0.02)	1.00	(0.82)	2.08	(1.55)	10.06
ARUJ	2.60	(0.32)	0.00	(2.06)	0.00	0.00	5.97	(6.20)	13.03
ILP	1.56	0.08	0.03	0.20	1.83	(1.79)	3.37	(3.59)	15.36
EFERT-CMAR	1.46	(0.23)	0.00	(0.70)	0.00	0.00	3.97	(3.43)	13.78
NRL	2.07	(0.55)	0.00	(0.65)	0.00	0.00	4.04	(4.73)	16.21

Pak IntBulk 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 Pak IntBulk stock to make a market-neutral strategy. Peer analysis of Pak IntBulk could also be used in its relative valuation, which is a method of valuing Pak IntBulk by comparing valuation metrics with similar companies.

Baba Farid Sugar Mari Energies Millat Tractors MCB Bank Tariq CorpPref Pakistan Oilfields Aruj Industries Interloop Engro Fertert National Refinery American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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