| DGNS Stock | | | IDR 220.00 4.00 1.79% |
The current 90-days correlation between Diagnos Laboratorium and Prodia Widyahusada Tbk is 0.29 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Diagnos Laboratorium moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Diagnos Laboratorium Utama moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Diagnos Laboratorium Correlation With Market
Good diversification
The correlation between Diagnos Laboratorium Utama and DJI is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Diagnos Laboratorium Utama and DJI in the same portfolio, assuming nothing else is changed.
The ability to find closely correlated positions to Diagnos Laboratorium could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Diagnos Laboratorium 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 Diagnos Laboratorium - 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 Diagnos Laboratorium Utama to buy it.
Moving together with Diagnos Stock
Moving against Diagnos Stock
Related Correlations Analysis
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 | IRRA | | PRDA | | HEAL | | PRDA | | DMMX | | HEAL | | IRRA | | HEAL |
| | High negative correlations |
Risk-Adjusted IndicatorsThere is a big difference between Diagnos Stock performing well and Diagnos Laboratorium 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 Diagnos Laboratorium'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 Diagnos Laboratorium 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.
| | Money ManagersScreen money managers from public funds and ETFs managed around the world |
Diagnos Laboratorium Corporate Management
Elected by the shareholders, the Diagnos Laboratorium's board of directors comprises two types of representatives: Diagnos Laboratorium inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Diagnos. The board's role is to monitor Diagnos Laboratorium's management team and ensure that shareholders' interests are well served. Diagnos Laboratorium's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Diagnos Laboratorium's outside directors are responsible for providing unbiased perspectives on the board's policies.