Power Line Correlations

PLE Stock

THB 0.15 0.01 6.25%

The current 90-days correlation between Power Line Engineering and TTCL Public is 0.22 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Power Line moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Power Line Engineering moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Power Line Correlation With Market

Excellent diversification

The correlation between Power Line Engineering and DJI is -0.53 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Power Line Engineering and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Power Stock

0.67	METCO	Muramoto Electron Public	Pair Corr
0.52	M-CHAI	Mahachai Hospital Public	Pair Corr
0.51	RCL	Regional Container Lines	Pair Corr
0.48	STANLY	Thai Stanley Electric	Pair Corr
0.33	SCC	Siam Cement	Pair Corr

Related Correlations Analysis

	TAKUNI	TTCL	AMR	IND	RT	TPOLY	PPP	EMC	PROS	TMC
TAKUNI		0.23	0.66	-0.36	0.09	0.71	0.38	0.28	0.38	0.09	TAKUNI
TTCL	0.23		0.51	-0.39	-0.36	0.38	0.6	0.34	-0.13	0.17	TTCL
AMR	0.66	0.51		-0.75	-0.2	0.72	0.8	0.65	-0.01	0.28	AMR
IND	-0.36	-0.39	-0.75		0.5	-0.5	-0.81	-0.71	0.3	-0.28	IND
RT	0.09	-0.36	-0.2	0.5		0.08	-0.54	-0.34	0.67	-0.23	RT
TPOLY	0.71	0.38	0.72	-0.5	0.08		0.49	0.55	0.39	0.27	TPOLY
PPP	0.38	0.6	0.8	-0.81	-0.54	0.49		0.74	-0.43	0.37	PPP
EMC	0.28	0.34	0.65	-0.71	-0.34	0.55	0.74		-0.25	0.34	EMC
PROS	0.38	-0.13	-0.01	0.3	0.67	0.39	-0.43	-0.25		-0.35	PROS
TMC	0.09	0.17	0.28	-0.28	-0.23	0.27	0.37	0.34	-0.35		TMC
	TAKUNI	TTCL	AMR	IND	RT	TPOLY	PPP	EMC	PROS	TMC

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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

PPP	+ 0.8	AMR
EMC	+ 0.74	PPP
TPOLY	+ 0.72	AMR
TPOLY	+ 0.71	TAKUNI
PROS	+ 0.67	RT
AMR	+ 0.66	TAKUNI

High negative correlations

PPP	- 0.81	IND
IND	- 0.75	AMR
EMC	- 0.71	IND
PPP	- 0.54	RT
TPOLY	- 0.5	IND
PROS	- 0.43	PPP

Risk-Adjusted Indicators

There is a big difference between Power Stock performing well and Power Line 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 Power Line'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
TAKUNI	2.37	(0.30)	0.00	(0.12)	0.00	0.00	5.71	(5.41)	28.15
TTCL	5.83	0.16	0.00	(0.09)	7.47	(10.78)	14.29	(15.00)	51.96
AMR	2.50	(0.38)	0.00	(0.40)	0.00	0.00	2.63	(6.67)	26.38
IND	1.77	0.53	0.21	(2.66)	1.27	(2.69)	5.71	(2.56)	27.02
RT	2.22	0.10	0.00	10.03	2.53	(4.43)	4.17	(4.00)	15.41
TPOLY	4.11	(0.74)	0.00	1.23	0.00	0.00	7.41	(8.33)	44.72
PPP	2.11	(0.30)	0.00	1.08	0.00	0.00	5.38	(6.19)	17.14
EMC	11.57	1.17	0.03	(0.96)	13.86	(43.52)	50.00	(33.33)	83.33
PROS	3.46	0.16	0.00	(0.19)	3.68	(6.14)	7.69	(6.52)	44.85
TMC	0.87	(0.04)	0.00	(0.08)	0.00	0.00	1.43	(2.70)	9.69

Be your own money manager

Our tools can tell you how much better you can do entering a position in Power Line 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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