Sumber Mas Correlations
| SMKM Stock | 74.00 6.00 7.50% |
The current 90-days correlation between Sumber Mas Konstruksi and Protech Mitra Perkasa is 0.07 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Sumber Mas moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Sumber Mas Konstruksi moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Sumber Mas Correlation With Market
Average diversification
The correlation between Sumber Mas Konstruksi and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sumber Mas Konstruksi and DJI in the same portfolio, assuming nothing else is changed.
Sumber |
The ability to find closely correlated positions to Sumber Mas could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Sumber Mas 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 Sumber Mas - 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 Sumber Mas Konstruksi to buy it.
Moving against Sumber Stock
| 0.57 | RONY | Aesler Grup Internasional | PairCorr |
| 0.47 | UNTR | United Tractors Tbk | PairCorr |
| 0.32 | SINI | Singaraja Putra | PairCorr |
Related Correlations Analysis
| -0.3 | -0.26 | 0.4 | 0.5 | NASI | ||
| -0.3 | -0.32 | -0.27 | -0.51 | STAA | ||
| -0.26 | -0.32 | -0.55 | -0.15 | NANO | ||
| 0.4 | -0.27 | -0.55 | 0.65 | RMKE | ||
| 0.5 | -0.51 | -0.15 | 0.65 | OASA | ||
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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
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Risk-Adjusted Indicators
There is a big difference between Sumber Stock performing well and Sumber Mas 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 Sumber Mas' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NASI | 2.70 | (0.47) | 0.00 | (16.68) | 0.00 | 5.00 | 21.96 | |||
| STAA | 1.17 | (0.05) | 0.00 | (0.03) | 0.00 | 2.37 | 7.11 | |||
| NANO | 2.03 | 0.28 | 0.04 | 0.87 | 2.30 | 5.88 | 15.00 | |||
| RMKE | 1.23 | (0.25) | 0.00 | (0.28) | 0.00 | 1.94 | 15.45 | |||
| OASA | 1.30 | (0.06) | 0.00 | 1.89 | 0.00 | 3.03 | 11.68 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Sumber Mas 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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