Primo Service Correlations

PRI Stock

4.26 0.02 0.47%

The current 90-days correlation between Primo Service Solutions and Ananda Development Public is 0.27 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Primo Service moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Primo Service Solutions moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Primo Service Correlation With Market

Pay attention - limited upside

The correlation between Primo Service Solutions and DJI is -0.86 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Primo Service Solutions and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Primo Stock

0.73

DELTA

Delta Electronics Public Earnings Call This Week

Pair Corr

Moving against Primo Stock

0.9	AOT	Airports Of Thailand Earnings Call This Week	Pair Corr
0.88	VCOM	Vintcom Technology PCL	Pair Corr
0.82	AMATAR	Amata Summit Growth	Pair Corr
0.78	BLA	Bangkok Life Assurance	Pair Corr
0.76	BA	Bangkok Airways Public	Pair Corr
0.75	BAREIT	BA Airport Leasehold	Pair Corr
0.72	PTT	PTT Public	Pair Corr
0.7	PTTEP	PTT Exploration Earnings Call This Week	Pair Corr
0.63	RT	Right Tunnelling Public	Pair Corr
0.4	SVOA	SVOA Public	Pair Corr

Related Correlations Analysis

	NVD	SPRIME	KWC	KTBSTMR	VRANDA	BROCK	SRIPANWA	MDX	ANAN
NVD		-0.27	0.03	-0.23	-0.04	0.23	-0.11	-0.07	0.32	NVD
SPRIME	-0.27		-0.45	0.78	-0.27	-0.85	0.79	0.16	-0.46	SPRIME
KWC	0.03	-0.45		-0.32	0.14	0.4	-0.32	0.28	0.17	KWC
KTBSTMR	-0.23	0.78	-0.32		-0.66	-0.73	0.79	0.41	-0.64	KTBSTMR
VRANDA	-0.04	-0.27	0.14	-0.66		0.35	-0.55	-0.44	0.39	VRANDA
BROCK	0.23	-0.85	0.4	-0.73	0.35		-0.83	-0.22	0.42	BROCK
SRIPANWA	-0.11	0.79	-0.32	0.79	-0.55	-0.83		0.33	-0.47	SRIPANWA
MDX	-0.07	0.16	0.28	0.41	-0.44	-0.22	0.33		-0.23	MDX
ANAN	0.32	-0.46	0.17	-0.64	0.39	0.42	-0.47	-0.23		ANAN
	NVD	SPRIME	KWC	KTBSTMR	VRANDA	BROCK	SRIPANWA	MDX	ANAN

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

SRIPANWA	+ 0.79	SPRIME
SRIPANWA	+ 0.79	KTBSTMR
KTBSTMR	+ 0.78	SPRIME
ANAN	+ 0.42	BROCK
MDX	+ 0.41	KTBSTMR
BROCK	+ 0.4	KWC

High negative correlations

BROCK	- 0.85	SPRIME
SRIPANWA	- 0.83	BROCK
BROCK	- 0.73	KTBSTMR
VRANDA	- 0.66	KTBSTMR
ANAN	- 0.64	KTBSTMR
SRIPANWA	- 0.55	VRANDA

Risk-Adjusted Indicators

There is a big difference between Primo Stock performing well and Primo Service 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 Primo Service'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
NVD	2.13	(0.11)	0.00	15.01	0.00	0.00	3.90	(5.88)	17.39
SPRIME	0.48	0.08	0.06	1.27	0.34	(0.87)	1.18	(1.14)	4.06
KWC	0.78	0.04	0.00	(0.06)	1.28	(2.19)	2.56	(3.21)	12.17
KTBSTMR	0.46	0.11	0.05	(0.63)	0.40	(1.00)	0.98	(0.97)	4.57
VRANDA	0.47	(0.05)	0.00	1.04	0.00	0.00	0.91	(1.36)	3.19
BROCK	2.12	(0.22)	0.00	(0.57)	0.00	0.00	4.92	(4.84)	14.07
SRIPANWA	0.55	0.04	0.01	0.26	0.61	(0.97)	1.67	(1.24)	4.12
MDX	1.06	0.09	0.02	(0.43)	1.36	(1.44)	1.68	(2.52)	13.83
ANAN	1.66	(0.11)	0.00	0.19	0.00	0.00	2.44	(2.44)	34.58

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

Nirvana Daii Public S Prime Growth Krungdhep Sophon Public KTBST Mixed Leasehold Veranda Resort Public Baan Rock Garden Sri panwa Hospitality MDX Public Ananda Development Public American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

Risk & Return

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