TPBI PCL Correlations

TPBI Stock

THB 2.92 0.02 0.69%

The current 90-days correlation between TPBI PCL and Panjawattana Plastic Public is -0.04 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as TPBI PCL moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if TPBI PCL moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

TPBI PCL Correlation With Market

Average diversification

The correlation between TPBI PCL and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TPBI PCL and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against TPBI Stock

0.67	KTB	Krung Thai Bank	Pair Corr
0.66	KBANK	Kasikornbank Public	Pair Corr
0.62	BBL	Bangkok Bank PCL	Pair Corr
0.53	RATCH	Ratch Group Public	Pair Corr
0.49	SCB	SCB X Public	Pair Corr

Related Correlations Analysis

	PJW	AJ	YUASA	TFI	JUBILE	WARRIX	GYT	BIG
PJW		-0.26	-0.08	-0.34	0.03	0.15	-0.34	-0.12	PJW
AJ	-0.26		-0.49	0.73	0.5	0.52	0.71	0.75	AJ
YUASA	-0.08	-0.49		-0.42	-0.31	-0.44	-0.13	-0.55	YUASA
TFI	-0.34	0.73	-0.42		0.35	0.24	0.49	0.44	TFI
JUBILE	0.03	0.5	-0.31	0.35		0.75	0.63	0.76	JUBILE
WARRIX	0.15	0.52	-0.44	0.24	0.75		0.61	0.86	WARRIX
GYT	-0.34	0.71	-0.13	0.49	0.63	0.61		0.76	GYT
BIG	-0.12	0.75	-0.55	0.44	0.76	0.86	0.76		BIG
	PJW	AJ	YUASA	TFI	JUBILE	WARRIX	GYT	BIG

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

BIG	+ 0.86	WARRIX
BIG	+ 0.76	JUBILE
BIG	+ 0.76	GYT
BIG	+ 0.75	AJ
WARRIX	+ 0.75	JUBILE
TFI	+ 0.73	AJ

High negative correlations

BIG	- 0.55	YUASA
YUASA	- 0.49	AJ
WARRIX	- 0.44	YUASA
TFI	- 0.42	YUASA
GYT	- 0.34	PJW
TFI	- 0.34	PJW

Risk-Adjusted Indicators

There is a big difference between TPBI Stock performing well and TPBI PCL 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 TPBI PCL'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
PJW	0.63	(0.03)	0.00	0.22	0.00	0.00	1.00	(1.92)	3.88
AJ	1.88	(0.28)	0.00	(1.90)	0.00	0.00	3.85	(6.56)	31.30
YUASA	1.05	0.19	0.10	0.41	1.01	(1.38)	1.79	(1.75)	8.70
TFI	5.58	0.00	0.00	0.00	0.00	0.00	20.00	(16.67)	41.67
JUBILE	0.77	(0.06)	0.00	(0.23)	0.00	0.00	1.44	(1.44)	4.95
WARRIX	1.30	(0.36)	0.00	(1.97)	0.00	0.00	2.80	(3.50)	7.35
GYT	0.91	0.05	(0.01)	(0.20)	1.00	(1.87)	2.60	(2.39)	6.76
BIG	2.39	(0.32)	0.00	(14.03)	0.00	0.00	3.45	(5.71)	18.18

Be your own money manager

Our tools can tell you how much better you can do entering a position in TPBI PCL 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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