Plus Tech Correlations

PTECH Stock

1.17 0.03 2.63%

The current 90-days correlation between Plus Tech Innovation and TKS Technologies Public is 0.17 (i.e., Average diversification). The correlation of Plus Tech 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.

Plus Tech Correlation With Market

Average diversification

The correlation between Plus Tech Innovation and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Plus Tech Innovation and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Plus Stock

0.64	SCC	Siam Cement	Pair Corr
0.95	PTTEP	PTT Exploration	Pair Corr

Moving against Plus Stock

0.86	ADVANC	Advanced Info Service	Pair Corr
0.86	IVL	Indorama Ventures PCL	Pair Corr
0.36	K	Kingsmen CMTI Public	Pair Corr

Related Correlations Analysis

	COM7	TKS	RJH	ERW	ACG	XPG	AOT	ETE	PYLON	ASIAN
COM7		-0.13	0.15	0.1	0.14	0.03	0.0	-0.05	0.09	-0.56	COM7
TKS	-0.13		-0.03	0.07	0.15	0.27	0.25	0.09	0.89	0.04	TKS
RJH	0.15	-0.03		0.9	0.71	0.03	0.1	0.9	0.06	0.01	RJH
ERW	0.1	0.07	0.9		0.83	0.18	0.42	0.93	0.24	-0.15	ERW
ACG	0.14	0.15	0.71	0.83		0.35	0.56	0.76	0.38	-0.22	ACG
XPG	0.03	0.27	0.03	0.18	0.35		0.69	0.28	0.39	-0.28	XPG
AOT	0.0	0.25	0.1	0.42	0.56	0.69		0.39	0.49	-0.42	AOT
ETE	-0.05	0.09	0.9	0.93	0.76	0.28	0.39		0.21	0.03	ETE
PYLON	0.09	0.89	0.06	0.24	0.38	0.39	0.49	0.21		-0.15	PYLON
ASIAN	-0.56	0.04	0.01	-0.15	-0.22	-0.28	-0.42	0.03	-0.15		ASIAN
	COM7	TKS	RJH	ERW	ACG	XPG	AOT	ETE	PYLON	ASIAN

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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

ETE	+ 0.93	ERW
ERW	+ 0.9	RJH
ETE	+ 0.9	RJH
PYLON	+ 0.89	TKS
ACG	+ 0.83	ERW
ETE	+ 0.76	ACG

High negative correlations

ASIAN	- 0.56	COM7
ASIAN	- 0.42	AOT
ASIAN	- 0.28	XPG
ASIAN	- 0.22	ACG
ASIAN	- 0.15	PYLON
ASIAN	- 0.15	ERW

Risk-Adjusted Indicators

There is a big difference between Plus Stock performing well and Plus Tech 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 Plus Tech'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
COM7	1.70	0.30	0.10	3.01	1.90	(2.08)	3.92	(3.28)	12.15
TKS	0.86	(0.16)	0.00	(0.64)	0.00	0.00	2.17	(2.13)	10.47
RJH	0.95	0.02	0.00	0.04	0.00	0.00	2.07	(2.14)	13.77
ERW	1.43	0.32	0.08	(0.77)	1.45	(2.26)	4.17	(2.55)	14.40
ACG	2.93	0.30	0.07	0.34	3.23	(4.45)	5.88	(6.45)	39.29
XPG	2.17	0.13	0.00	(0.20)	2.55	(3.35)	5.21	(3.96)	19.09
AOT	0.81	0.06	(0.03)	(1.01)	0.85	(0.99)	1.72	(1.59)	5.57
ETE	1.36	(0.08)	0.00	0.41	0.00	0.00	3.77	(3.00)	9.12
PYLON	1.17	0.10	(0.01)	(0.18)	1.31	(2.22)	2.56	(2.83)	13.56
ASIAN	1.51	(0.17)	0.00	1.13	0.00	0.00	3.89	(3.78)	8.38

Be your own money manager

Our tools can tell you how much better you can do entering a position in Plus Tech 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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