Ateliers Mecaniques Correlations
| AMIN Stock | IDR 133.00 1.00 0.75% |
The current 90-days correlation between Ateliers Mecaniques and Arita Prima Indonesia is 0.38 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Ateliers Mecaniques moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Ateliers Mecaniques DIndonesie moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Ateliers Mecaniques Correlation With Market
Good diversification
The correlation between Ateliers Mecaniques DIndonesie and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ateliers Mecaniques DIndonesie and DJI in the same portfolio, assuming nothing else is changed.
Ateliers |
The ability to find closely correlated positions to Ateliers Mecaniques could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Ateliers Mecaniques 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 Ateliers Mecaniques - 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 Ateliers Mecaniques DIndonesie to buy it.
Moving together with Ateliers Stock
Moving against Ateliers Stock
Related Correlations Analysis
| 0.12 | 0.53 | 0.76 | 0.52 | APII | ||
| 0.12 | 0.19 | 0.33 | 0.42 | BTON | ||
| 0.53 | 0.19 | 0.69 | 0.61 | ALKA | ||
| 0.76 | 0.33 | 0.69 | 0.63 | ALDO | ||
| 0.52 | 0.42 | 0.61 | 0.63 | BELL | ||
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Risk-Adjusted Indicators
There is a big difference between Ateliers Stock performing well and Ateliers Mecaniques 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 Ateliers Mecaniques' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| APII | 0.99 | (0.03) | 0.00 | (0.42) | 0.00 | 2.31 | 6.88 | |||
| BTON | 1.57 | 0.06 | 0.04 | (0.40) | 2.25 | 5.37 | 13.43 | |||
| ALKA | 1.76 | (0.37) | 0.00 | 1.17 | 0.00 | 4.09 | 14.44 | |||
| ALDO | 2.60 | (0.14) | 0.00 | 0.78 | 0.00 | 5.41 | 14.80 | |||
| BELL | 3.13 | (0.24) | 0.00 | (1.18) | 0.00 | 7.69 | 17.22 |
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