Indofood Cbp Correlations

ICBP Stock

IDR 11,900 75.00 0.63%

The current 90-days correlation between Indofood Cbp Sukses and Bank BRISyariah Tbk is 0.26 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Indofood Cbp moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Indofood Cbp Sukses moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Indofood Cbp Correlation With Market

Good diversification

The correlation between Indofood Cbp Sukses and DJI 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 Indofood Cbp Sukses and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Indofood Stock

0.78

AMRT

Sumber Alfaria Trijaya

Pair Corr

Related Correlations Analysis

	BRIS	MPMX	JIHD	TECH	ISAT	BBNI	CASA	INOV	KRAS
BRIS		0.32	-0.11	0.0	-0.23	0.32	-0.13	-0.34	0.52	BRIS
MPMX	0.32		-0.86	0.0	0.5	0.89	-0.39	-0.59	0.42	MPMX
JIHD	-0.11	-0.86		0.0	-0.54	-0.76	0.48	0.59	-0.37	JIHD
TECH	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	TECH
ISAT	-0.23	0.5	-0.54	0.0		0.55	-0.46	-0.43	-0.38	ISAT
BBNI	0.32	0.89	-0.76	0.0	0.55		-0.28	-0.52	0.33	BBNI
CASA	-0.13	-0.39	0.48	0.0	-0.46	-0.28		0.71	-0.11	CASA
INOV	-0.34	-0.59	0.59	0.0	-0.43	-0.52	0.71		-0.32	INOV
KRAS	0.52	0.42	-0.37	0.0	-0.38	0.33	-0.11	-0.32		KRAS
	BRIS	MPMX	JIHD	TECH	ISAT	BBNI	CASA	INOV	KRAS

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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

BBNI	+ 0.89	MPMX
INOV	+ 0.71	CASA
INOV	+ 0.59	JIHD
BBNI	+ 0.55	ISAT
KRAS	+ 0.52	BRIS
ISAT	+ 0.5	MPMX

High negative correlations

JIHD	- 0.86	MPMX
BBNI	- 0.76	JIHD
INOV	- 0.59	MPMX
ISAT	- 0.54	JIHD
INOV	- 0.52	BBNI
CASA	- 0.46	ISAT

Risk-Adjusted Indicators

There is a big difference between Indofood Stock performing well and Indofood Cbp 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 Indofood Cbp'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
BRIS	1.67	0.12	0.00	(0.83)	1.49	(2.51)	4.73	(2.60)	12.51
MPMX	0.42	(0.07)	0.00	(0.46)	0.00	0.00	0.51	(0.98)	2.48
JIHD	5.84	3.29	0.79	5.38	2.01	(8.41)	24.74	(5.03)	34.81
TECH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ISAT	3.37	(1.39)	0.00	(1.66)	0.00	0.00	5.12	(5.74)	79.95
BBNI	1.22	(0.08)	0.00	0.56	0.00	0.00	2.73	(2.68)	8.76
CASA	1.44	0.07	(0.02)	(0.46)	2.09	(2.05)	3.60	(2.86)	21.12
INOV	1.80	0.04	(0.04)	(0.09)	2.07	(2.61)	3.19	(4.04)	22.27
KRAS	2.90	0.37	0.03	(0.14)	2.46	(5.25)	8.39	(4.29)	31.64

Be your own money manager

Our tools can tell you how much better you can do entering a position in Indofood Cbp 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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