Thai Sugar Correlations
| TSTE Stock | | | THB 11.70 1.70 12.69% |
The current 90-days correlation between Thai Sugar Terminal and GFPT Public is -0.05 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Thai Sugar moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Thai Sugar Terminal moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Thai Sugar Correlation With Market
Significant diversification
The correlation between Thai Sugar Terminal and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Thai Sugar Terminal and DJI in the same portfolio, assuming nothing else is changed.
The ability to find closely correlated positions to Thai Sugar could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Thai Sugar 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 Thai Sugar - 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 Thai Sugar Terminal to buy it.
Moving together with Thai Stock
Moving against Thai Stock
Related Correlations Analysis
Risk-Adjusted IndicatorsThere is a big difference between Thai Stock performing well and Thai Sugar 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 Thai Sugar'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 Thai Sugar 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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