Pakistan Synthetics Correlations

PSYL Stock

28.93 0.43 1.51%

The current 90-days correlation between Pakistan Synthetics and Masood Textile Mills is 0.19 (i.e., Average diversification). The correlation of Pakistan Synthetics 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.

Pakistan Synthetics Correlation With Market

Significant diversification

The correlation between Pakistan Synthetics and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pakistan Synthetics and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Pakistan Stock

0.79

HUBC

Hub Power

Pair Corr

Moving against Pakistan Stock

0.73	MARI	Mari Petroleum Split	Pair Corr
0.71	POL	Pakistan Oilfields	Pair Corr
0.66	FFC	Fauji Fertilizer	Pair Corr
0.51	OGDC	Oil and Gas	Pair Corr
0.42	PSO	Pakistan State Oil	Pair Corr
0.38	PPL	Pakistan Petroleum	Pair Corr
0.37	PTC	Pakistan Telecommunicatio	Pair Corr
0.31	LUCK	Lucky Cement	Pair Corr

Related Correlations Analysis

	MSOT	FFL	KSBP	MARI	LOADS	THCCL	KAPCO	REWM
MSOT		-0.82	-0.15	-0.24	-0.46	-0.67	-0.65	-0.51	MSOT
FFL	-0.82		0.35	0.38	0.74	0.75	0.83	0.34	FFL
KSBP	-0.15	0.35		-0.14	0.5	-0.12	0.42	-0.32	KSBP
MARI	-0.24	0.38	-0.14		0.35	0.7	0.14	0.32	MARI
LOADS	-0.46	0.74	0.5	0.35		0.55	0.73	0.08	LOADS
THCCL	-0.67	0.75	-0.12	0.7	0.55		0.5	0.61	THCCL
KAPCO	-0.65	0.83	0.42	0.14	0.73	0.5		0.08	KAPCO
REWM	-0.51	0.34	-0.32	0.32	0.08	0.61	0.08		REWM
	MSOT	FFL	KSBP	MARI	LOADS	THCCL	KAPCO	REWM

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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

KAPCO	+ 0.83	FFL
THCCL	+ 0.75	FFL
LOADS	+ 0.74	FFL
KAPCO	+ 0.73	LOADS
THCCL	+ 0.7	MARI
REWM	+ 0.61	THCCL

High negative correlations

FFL	- 0.82	MSOT
THCCL	- 0.67	MSOT
KAPCO	- 0.65	MSOT
REWM	- 0.51	MSOT
LOADS	- 0.46	MSOT
REWM	- 0.32	KSBP

Risk-Adjusted Indicators

There is a big difference between Pakistan Stock performing well and Pakistan Synthetics 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 Pakistan Synthetics' 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
MSOT	2.00	(0.34)	0.00	2.53	0.00	0.00	6.08	(7.31)	19.24
FFL	1.90	0.52	0.21	(2.88)	1.35	(2.72)	5.43	(2.68)	12.51
KSBP	2.48	0.15	0.05	0.29	2.25	(2.96)	7.25	(3.57)	16.16
MARI	2.89	1.27	0.59	(13.61)	1.09	(3.75)	7.07	(2.36)	59.96
LOADS	2.11	0.27	0.09	0.64	2.07	(2.43)	6.33	(3.61)	14.03
THCCL	3.56	1.68	0.46	(2.24)	2.51	(4.59)	10.00	(5.02)	19.77
KAPCO	1.35	0.40	0.25	7.92	0.77	(1.72)	3.49	(1.88)	8.01
REWM	2.17	0.14	0.00	(0.55)	2.54	(5.22)	8.79	(6.49)	19.35

Be your own money manager

Our tools can tell you how much better you can do entering a position in Pakistan Synthetics 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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