PT Jobubu Correlations

BEER Stock

85.00 2.00 2.41%

The current 90-days correlation between PT Jobubu Jarum and Optima Prima Metal is -0.04 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as PT Jobubu moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if PT Jobubu Jarum moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

PT Jobubu Correlation With Market

Significant diversification

The correlation between PT Jobubu Jarum and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PT Jobubu Jarum and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to PT Jobubu 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 Jobubu 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 Jobubu - 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 Jobubu Jarum to buy it.

Moving together with BEER Stock

0.87	BBCA	Bank Central Asia	Pair Corr
0.87	AMRT	Sumber Alfaria Trijaya	Pair Corr
0.88	HMSP	Hanjaya Mandala Sampoerna Earnings Call This Week	Pair Corr
0.91	MBAP	Mitrabara Adiperdana	Pair Corr
0.74	SGER	Sumber Global Energy	Pair Corr

Moving against BEER Stock

0.76	WIFI	Solusi Sinergi Digital	Pair Corr
0.44	NICK	Charnic Capital Tbk Earnings Call This Week	Pair Corr

Related Correlations Analysis

	OPMS	KDSI	RSCH	KBLV	SCMA	CARE	HITS
OPMS		0.31	-0.13	-0.14	-0.08	-0.11	0.05	OPMS
KDSI	0.31		-0.32	-0.41	-0.3	-0.56	0.33	KDSI
RSCH	-0.13	-0.32		0.72	-0.14	-0.06	0.45	RSCH
KBLV	-0.14	-0.41	0.72		-0.08	0.07	0.16	KBLV
SCMA	-0.08	-0.3	-0.14	-0.08		0.52	-0.68	SCMA
CARE	-0.11	-0.56	-0.06	0.07	0.52		-0.64	CARE
HITS	0.05	0.33	0.45	0.16	-0.68	-0.64		HITS
	OPMS	KDSI	RSCH	KBLV	SCMA	CARE	HITS

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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

KBLV	+ 0.72	RSCH
CARE	+ 0.52	SCMA
HITS	+ 0.45	RSCH
HITS	+ 0.33	KDSI
KDSI	+ 0.31	OPMS
HITS	+ 0.16	KBLV

High negative correlations

HITS	- 0.68	SCMA
HITS	- 0.64	CARE
CARE	- 0.56	KDSI
KBLV	- 0.41	KDSI
RSCH	- 0.32	KDSI
SCMA	- 0.3	KDSI

Risk-Adjusted Indicators

There is a big difference between BEER Stock performing well and PT Jobubu 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 Jobubu'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
OPMS	0.30	0.00	0.00	(0.06)	0.00	0.00	2.00	(1.96)	5.96
KDSI	2.33	(0.05)	0.00	(0.17)	0.00	0.00	6.32	(5.12)	37.10
RSCH	2.03	0.03	0.04	(0.95)	2.15	(3.57)	4.65	(4.76)	30.09
KBLV	1.24	(0.04)	0.00	0.67	0.00	0.00	3.53	(3.41)	10.35
SCMA	2.93	0.26	0.08	0.39	3.32	(3.57)	6.81	(4.81)	20.36
CARE	2.25	0.20	0.10	(0.50)	2.23	(3.78)	7.34	(4.50)	18.23
HITS	2.44	(0.49)	0.00	(0.69)	0.00	0.00	4.57	(4.74)	35.65

Be your own money manager

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