Regional Container Correlations

RCL Stock

THB 26.50 0.25 0.93%

The current 90-days correlation between Regional Container Lines and Tata Steel Public is -0.33 (i.e., Very good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Regional Container moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Regional Container Lines moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Regional Container Correlation With Market

Good diversification

The correlation between Regional Container Lines and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Regional Container Lines and DJI in the same portfolio, assuming nothing else is changed.

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

Related Correlations Analysis

	TSTH	TFG	TMT	ERW	AOT	ETE	PYLON	ASIAN	GUNKUL	ONEE
TSTH		-0.24	0.76	0.32	0.48	0.18	0.86	-0.23	0.52	0.58	TSTH
TFG	-0.24		0.09	-0.16	0.3	0.07	0.0	0.19	0.21	-0.23	TFG
TMT	0.76	0.09		0.12	0.34	0.16	0.88	0.24	0.36	0.21	TMT
ERW	0.32	-0.16	0.12		0.41	0.93	0.22	-0.13	0.41	0.32	ERW
AOT	0.48	0.3	0.34	0.41		0.39	0.48	-0.34	0.91	0.53	AOT
ETE	0.18	0.07	0.16	0.93	0.39		0.21	0.06	0.41	0.24	ETE
PYLON	0.86	0.0	0.88	0.22	0.48	0.21		-0.09	0.53	0.4	PYLON
ASIAN	-0.23	0.19	0.24	-0.13	-0.34	0.06	-0.09		-0.29	-0.32	ASIAN
GUNKUL	0.52	0.21	0.36	0.41	0.91	0.41	0.53	-0.29		0.63	GUNKUL
ONEE	0.58	-0.23	0.21	0.32	0.53	0.24	0.4	-0.32	0.63		ONEE
	TSTH	TFG	TMT	ERW	AOT	ETE	PYLON	ASIAN	GUNKUL	ONEE

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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
GUNKUL	+ 0.91	AOT
PYLON	+ 0.88	TMT
PYLON	+ 0.86	TSTH
TMT	+ 0.76	TSTH
ONEE	+ 0.63	GUNKUL

High negative correlations

ASIAN	- 0.34	AOT
ONEE	- 0.32	ASIAN
GUNKUL	- 0.29	ASIAN
TFG	- 0.24	TSTH
ONEE	- 0.23	TFG
ASIAN	- 0.23	TSTH

Risk-Adjusted Indicators

There is a big difference between Regional Stock performing well and Regional Container 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 Regional Container'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
TSTH	2.37	0.49	0.10	1.18	2.17	(5.15)	10.00	(4.94)	19.95
TFG	1.41	(0.14)	0.00	(0.64)	0.00	0.00	2.86	(3.06)	13.76
TMT	1.22	(0.32)	0.00	17.60	0.00	0.00	1.13	(3.29)	25.06
ERW	1.38	0.28	0.06	(0.72)	1.46	(2.15)	4.17	(2.55)	14.40
AOT	0.84	0.00	(0.02)	0.00	0.84	(1.04)	2.07	(1.59)	5.57
ETE	1.36	(0.07)	0.00	0.38	0.00	0.00	3.77	(3.00)	9.12
PYLON	1.17	0.11	(0.01)	(0.19)	1.31	(2.22)	2.56	(2.83)	13.56
ASIAN	1.49	(0.15)	0.00	0.98	0.00	0.00	3.89	(3.78)	8.38
GUNKUL	1.97	0.16	(0.01)	(0.08)	2.17	(2.41)	4.00	(4.17)	11.36
ONEE	1.76	0.15	0.04	0.82	1.62	(2.60)	4.14	(3.17)	13.60

Be your own money manager

Our tools can tell you how much better you can do entering a position in Regional Container 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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