Eratex Djaja Correlations

ERTX Stock

IDR 107.00 1.00 0.93%

The current 90-days correlation between Eratex Djaja Tbk and Pembangunan Graha Lestari is 0.02 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Eratex Djaja moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Eratex Djaja Tbk moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Eratex Djaja Correlation With Market

Average diversification

The correlation between Eratex Djaja Tbk and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eratex Djaja Tbk and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Eratex Stock

0.67

LAPD

Leyand International Tbk

Pair Corr

Moving against Eratex Stock

0.62

DMMX

Digital Mediatama Maxima

Pair Corr

Related Correlations Analysis

	PGLI	PJAA	SHID	MBAP	FOLK	BINA	MBSS	PMJS	CTTH	UANG
PGLI		-0.62	-0.53	-0.6	-0.06	0.59	-0.2	-0.73	-0.78	-0.69	PGLI
PJAA	-0.62		0.62	0.89	0.29	-0.43	0.33	0.77	0.57	0.6	PJAA
SHID	-0.53	0.62		0.56	0.25	-0.26	0.13	0.58	0.47	0.52	SHID
MBAP	-0.6	0.89	0.56		0.25	-0.45	0.52	0.81	0.57	0.51	MBAP
FOLK	-0.06	0.29	0.25	0.25		0.15	-0.03	0.06	-0.14	-0.06	FOLK
BINA	0.59	-0.43	-0.26	-0.45	0.15		-0.29	-0.51	-0.56	-0.43	BINA
MBSS	-0.2	0.33	0.13	0.52	-0.03	-0.29		0.29	0.28	-0.07	MBSS
PMJS	-0.73	0.77	0.58	0.81	0.06	-0.51	0.29		0.8	0.74	PMJS
CTTH	-0.78	0.57	0.47	0.57	-0.14	-0.56	0.28	0.8		0.68	CTTH
UANG	-0.69	0.6	0.52	0.51	-0.06	-0.43	-0.07	0.74	0.68		UANG
	PGLI	PJAA	SHID	MBAP	FOLK	BINA	MBSS	PMJS	CTTH	UANG

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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

MBAP	+ 0.89	PJAA
PMJS	+ 0.81	MBAP
CTTH	+ 0.8	PMJS
PMJS	+ 0.77	PJAA
UANG	+ 0.74	PMJS
UANG	+ 0.68	CTTH

High negative correlations

CTTH	- 0.78	PGLI
PMJS	- 0.73	PGLI
UANG	- 0.69	PGLI
PJAA	- 0.62	PGLI
MBAP	- 0.6	PGLI
CTTH	- 0.56	BINA

Risk-Adjusted Indicators

There is a big difference between Eratex Stock performing well and Eratex Djaja 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 Eratex Djaja'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
PGLI	2.42	0.14	0.05	0.26	2.51	(3.10)	5.29	(4.50)	17.19
PJAA	0.68	(0.19)	0.00	4.12	0.00	0.00	1.53	(1.65)	4.13
SHID	1.86	(0.13)	0.00	(0.08)	0.00	0.00	4.74	(3.74)	19.78
MBAP	0.98	(0.24)	0.00	(8.36)	0.00	0.00	1.66	(2.28)	8.51
FOLK	1.81	0.10	(0.02)	(0.02)	2.70	(6.67)	2.00	(5.56)	48.93
BINA	0.50	0.00	(0.10)	(0.06)	0.69	(0.80)	1.50	(1.21)	6.07
MBSS	1.81	0.10	0.00	1.36	1.88	(2.61)	4.57	(3.60)	15.25
PMJS	2.51	(0.27)	0.00	0.46	0.00	0.00	4.23	(7.97)	17.69
CTTH	1.69	(0.21)	0.00	(1.49)	0.00	0.00	4.17	(6.67)	16.33
UANG	1.52	(0.36)	0.00	(1.87)	0.00	0.00	2.00	(5.29)	21.11

Be your own money manager

Our tools can tell you how much better you can do entering a position in Eratex Djaja 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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