PT Sarimelati Correlations
| PZZA Stock | IDR 276.00 6.00 2.13% |
The correlation of PT Sarimelati 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as PT Sarimelati moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if PT Sarimelati Kencana moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Good diversification
The correlation between PT Sarimelati Kencana and NYA is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PT Sarimelati Kencana and NYA in the same portfolio, assuming nothing else is changed.
PZZA |
The ability to find closely correlated positions to PT Sarimelati could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace PT Sarimelati 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 PT Sarimelati - 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 PT Sarimelati Kencana to buy it.
Moving together with PZZA Stock
| 0.81 | BMAS | Bank Maspion Indonesia | PairCorr |
| 0.61 | BAYU | Bayu Buana Tbk | PairCorr |
| 0.71 | GTBO | Garda Tujuh Buana | PairCorr |
Moving against PZZA Stock
| 0.74 | BMRI | Bank Mandiri Persero Earnings Call Tomorrow | PairCorr |
| 0.71 | BNLI | Bank Permata Tbk Earnings Call Today | PairCorr |
| 0.45 | CTTH | Citatah Tbk | PairCorr |
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between PZZA Stock performing well and PT Sarimelati 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 PT Sarimelati'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 PT Sarimelati 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.Did you try this?
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Already Invested in PT Sarimelati Kencana?
The danger of trading PT Sarimelati Kencana is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of PT Sarimelati is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than PT Sarimelati. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile PT Sarimelati Kencana is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in PT Sarimelati Kencana. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors. You can also try the ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
Complementary Tools for PZZA Stock analysis
When running PT Sarimelati's price analysis, check to measure PT Sarimelati's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy PT Sarimelati is operating at the current time. Most of PT Sarimelati's value examination focuses on studying past and present price action to predict the probability of PT Sarimelati's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move PT Sarimelati's price. Additionally, you may evaluate how the addition of PT Sarimelati to your portfolios can decrease your overall portfolio volatility.
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