PT Astra Correlations

ASJA Stock

EUR 0.27 0.02 6.90%

The current 90-days correlation between PT Astra International and UNITED UTILITIES GP is -0.01 (i.e., Good diversification). The correlation of PT Astra is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

PT Astra Correlation With Market

Good diversification

The correlation between PT Astra International and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PT Astra International and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against ASJA Stock

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0.46	7PI	Poste Italiane SpA Earnings Call Today	Pair Corr
0.45	AS7	ANTA Sports Products	Pair Corr
0.38	CON	Continental Aktiengesellscha Earnings Call This Week	Pair Corr
0.37	CON	Continental Aktiengesellscha Earnings Call This Week	Pair Corr
0.33	ISHA	INTERSHOP Communications	Pair Corr

Related Correlations Analysis

	UUEA	UUEC	UOF	GRU	AP3	MSI	GRU	6IC
UUEA		0.98	-0.68	-0.37	0.17	0.65	-0.37	-0.11	UUEA
UUEC	0.98		-0.68	-0.37	0.14	0.65	-0.37	-0.09	UUEC
UOF	-0.68	-0.68		0.44	-0.32	-0.55	0.45	0.26	UOF
GRU	-0.37	-0.37	0.44		-0.16	-0.2	0.94	0.56	GRU
AP3	0.17	0.14	-0.32	-0.16		0.38	-0.07	-0.16	AP3
MSI	0.65	0.65	-0.55	-0.2	0.38		-0.21	0.12	MSI
GRU	-0.37	-0.37	0.45	0.94	-0.07	-0.21		0.55	GRU
6IC	-0.11	-0.09	0.26	0.56	-0.16	0.12	0.55		6IC
	UUEA	UUEC	UOF	GRU	AP3	MSI	GRU	6IC

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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

UUEC	+ 0.98	UUEA
GRU	+ 0.94	GRU
MSI	+ 0.65	UUEA
MSI	+ 0.65	UUEC
6IC	+ 0.56	GRU
6IC	+ 0.55	GRU

High negative correlations

UOF	- 0.68	UUEC
UOF	- 0.68	UUEA
MSI	- 0.55	UOF
GRU	- 0.37	UUEC
GRU	- 0.37	UUEC
GRU	- 0.37	UUEA

Risk-Adjusted Indicators

There is a big difference between ASJA Stock performing well and PT Astra 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 PT Astra'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
UUEA	1.06	(0.14)	0.00	(0.88)	0.00	0.00	2.68	(2.27)	9.89
UUEC	1.30	(0.16)	0.00	(0.84)	0.00	0.00	2.28	(2.59)	9.54
UOF	2.34	0.53	0.21	(2.20)	1.97	(3.30)	5.19	(3.77)	17.03
GRU	2.23	0.38	0.14	(0.82)	2.40	(2.92)	6.60	(4.27)	19.23
AP3	0.84	(0.06)	0.00	(0.10)	0.00	0.00	2.00	(1.74)	9.36
MSI	1.28	0.03	0.01	0.65	1.44	(1.66)	2.02	(1.94)	9.67
GRU	2.00	0.48	0.16	(7.88)	2.26	(2.49)	5.98	(3.08)	18.68
6IC	1.92	0.20	0.09	0.98	2.01	(2.19)	4.38	(3.56)	18.72

Be your own money manager

Our tools can tell you how much better you can do entering a position in PT Astra 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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