Hartalega Holdings Correlations

5168 Stock

3.44 0.05 1.47%

The current 90-days correlation between Hartalega Holdings Bhd and Kossan Rubber Industries is 0.82 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Hartalega Holdings moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hartalega Holdings Bhd moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Hartalega Holdings Correlation With Market

Good diversification

The correlation between Hartalega Holdings Bhd and NYA is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hartalega Holdings Bhd and NYA in the same portfolio, assuming nothing else is changed.

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

Moving together with Hartalega Stock

0.92	7113	Top Glove	Pair Corr
0.89	7153	Kossan Rubber Industries	Pair Corr
0.96	7106	Supermax Bhd	Pair Corr
0.92	7803	Rubberex M	Pair Corr
0.84	1155	Malayan Banking Bhd	Pair Corr
0.61	1066	RHB Bank Bhd	Pair Corr
0.85	5347	Tenaga Nasional Bhd	Pair Corr
0.71	1015	AMMB Holdings Bhd	Pair Corr
0.65	2488	Alliance Financial	Pair Corr
0.85	3816	MISC Bhd	Pair Corr
0.77	7148	Duopharma Biotech Bhd	Pair Corr

Moving against Hartalega Stock

0.49	1295	Public Bank Bhd	Pair Corr
0.36	4723	JAKS Resources Bhd	Pair Corr

Related Correlations Analysis

	7153	7803	7219	0148	0097	4324	7243	1015	5255
7153		0.82	-0.22	0.7	0.52	0.09	0.44	0.78	0.71	7153
7803	0.82		-0.37	0.68	0.34	-0.21	0.63	0.56	0.46	7803
7219	-0.22	-0.37		-0.32	-0.05	0.59	-0.33	0.0	0.14	7219
0148	0.7	0.68	-0.32		0.39	-0.18	0.57	0.64	0.53	0148
0097	0.52	0.34	-0.05	0.39		0.23	-0.05	0.49	0.81	0097
4324	0.09	-0.21	0.59	-0.18	0.23		-0.39	0.32	0.31	4324
7243	0.44	0.63	-0.33	0.57	-0.05	-0.39		0.21	0.11	7243
1015	0.78	0.56	0.0	0.64	0.49	0.32	0.21		0.67	1015
5255	0.71	0.46	0.14	0.53	0.81	0.31	0.11	0.67		5255
	7153	7803	7219	0148	0097	4324	7243	1015	5255

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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

7803	+ 0.82	7153
5255	+ 0.81	0097
1015	+ 0.78	7153
5255	+ 0.71	7153
0148	+ 0.7	7153
0148	+ 0.68	7803

High negative correlations

7243	- 0.39	4324
7219	- 0.37	7803
7243	- 0.33	7219
0148	- 0.32	7219
7219	- 0.22	7153
4324	- 0.21	7803

Risk-Adjusted Indicators

There is a big difference between Hartalega Stock performing well and Hartalega Holdings 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 Hartalega Holdings' 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
7153	1.76	0.48	0.18	(1.58)	1.94	(2.42)	4.80	(3.29)	24.62
7803	1.71	0.25	0.05	(0.44)	1.87	(5.88)	4.76	(4.55)	24.80
7219	3.18	0.10	0.02	0.06	3.51	(8.18)	7.69	(6.67)	21.43
0148	1.98	0.26	0.08	(0.87)	1.94	(3.54)	5.26	(3.03)	12.31
0097	1.27	0.33	0.15	(5.64)	1.39	(1.67)	2.54	(2.82)	6.41
4324	1.39	0.06	0.03	0.25	1.64	(1.59)	4.00	(2.56)	8.47
7243	2.83	0.30	0.06	2.52	2.87	(6.14)	9.09	(4.76)	19.09
1015	0.70	0.01	0.00	(0.03)	1.21	(0.76)	1.21	(1.42)	8.19
5255	2.56	0.90	0.34	10.46	1.68	(3.92)	7.04	(3.53)	16.67

Be your own money manager

Our tools can tell you how much better you can do entering a position in Hartalega Holdings 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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