TPI Polene Correlations

Stocks . Thailand . 
Stock . TPI Polene Power
TPIPP Stock  THB 2.92  0.02  0.68%   
The current 90-days correlation between TPI Polene Power and BCPG Public is 0.03 (i.e., Significant diversification). The correlation of TPI Polene 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.
  
The ability to find closely correlated positions to TPI Polene could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace TPI Polene 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 TPI Polene - 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 TPI Polene Power to buy it.

Moving together with TPI Stock

  0.81ASAP Synergetic Auto PerfPairCorr
  0.86CHOW Chow Steel IndustriesPairCorr
  0.64UMS Unique Mining ServicesPairCorr
  0.73ASK Asia Sermkij LeasingPairCorr
  0.75THANI Ratchthani Leasing PublicPairCorr

Moving against TPI Stock

  0.8UREKA Eureka Design PublicPairCorr
  0.76BTS BTS Group HoldingsPairCorr
  0.7KBANK Kasikornbank PublicPairCorr
  0.54AKR Ekarat Engineering PublicPairCorr
  0.41EFORL E for LPairCorr

Related Correlations Analysis

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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   
PTG
+ 0.81
GULF
GULF
+ 0.8
RATCH
PTG
+ 0.74
RATCH
PTG
+ 0.61
BCPG
GULF
+ 0.55
BCPG
BCPG
+ 0.42
RATCH
  
High negative correlations   
PTG
- 0.88
BTS
BTS
- 0.79
GULF
BTS
- 0.59
BCPG
BTS
- 0.55
RATCH

Risk-Adjusted Indicators

There is a big difference between TPI Stock performing well and TPI Polene 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 TPI Polene'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in TPI Polene 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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