RMK Energy Correlations

RMKE Stock   515.00  5.00  0.96%   
The current 90-days correlation between RMK Energy PT and PT Bukalapak is 0.05 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as RMK Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if RMK Energy PT moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

RMK Energy Correlation With Market

Modest diversification

The correlation between RMK Energy PT and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding RMK Energy PT and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to RMK Energy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace RMK Energy 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 RMK Energy - 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 RMK Energy PT to buy it.

Moving together with RMK Stock

  0.71BSSR Baramulti SuksessaranaPairCorr
  0.77DOID Delta Dunia MakmurPairCorr
  0.68APLI Asiaplast Industries TbkPairCorr
  0.68IBST Inti Bangun SejahteraPairCorr
  0.86INDR Indorama Synthetics TbkPairCorr
  0.8MPMX Mitra Pinasthika MustikaPairCorr
  0.91HEXA Hexindo Adiperkasa TbkPairCorr

Moving against RMK Stock

  0.91DMMX Digital Mediatama MaximaPairCorr
  0.48MYOH Samindo Resources TbkPairCorr
  0.43UNTR United Tractors TbkPairCorr
  0.32ADRO Adaro Energy TbkPairCorr

Related Correlations Analysis

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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   
EMTKGOTO
MDKAARTO
MDKABUKA
BUKAEMTK
BUKAGOTO
BUKAARTO
  
High negative correlations   
MDKAEMTK
EMTKARTO
MDKAGOTO
GOTOARTO

Risk-Adjusted Indicators

There is a big difference between RMK Stock performing well and RMK Energy 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 RMK Energy'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 RMK Energy 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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