Jaya Trishindo Correlations
| HELI Stock | 296.00 4.00 1.37% |
The current 90-days correlation between Jaya Trishindo Tbk and Batavia Prosperindo Trans is -0.03 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Jaya Trishindo moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Jaya Trishindo Tbk moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Jaya Trishindo Correlation With Market
Modest diversification
The correlation between Jaya Trishindo Tbk and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jaya Trishindo Tbk and DJI in the same portfolio, assuming nothing else is changed.
Jaya |
The ability to find closely correlated positions to Jaya Trishindo could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Jaya Trishindo 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 Jaya Trishindo - 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 Jaya Trishindo Tbk to buy it.
Moving together with Jaya Stock
| 0.64 | GTBO | Garda Tujuh Buana | PairCorr |
| 0.62 | LFLO | Imago Mulia Persada | PairCorr |
| 0.68 | LPPF | Matahari Department Store | PairCorr |
| 0.62 | BSSR | Baramulti Suksessarana | PairCorr |
Moving against Jaya Stock
| 0.64 | DMMX | Digital Mediatama Maxima | PairCorr |
| 0.46 | BUVA | Bukit Uluwatu Villa | PairCorr |
| 0.42 | BYAN | Bayan Resources Tbk | PairCorr |
| 0.37 | JSPT | Jakarta Setiabudi | PairCorr |
| 0.32 | UNTR | United Tractors Tbk | PairCorr |
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between Jaya Stock performing well and Jaya Trishindo 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 Jaya Trishindo'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| BPTR | 1.32 | 0.00 | (0.04) | 0.00 | 1.40 | 2.30 | 14.38 | |||
| TRUK | 2.46 | (0.20) | 0.00 | (0.17) | 0.00 | 6.86 | 34.65 | |||
| GHON | 0.91 | (0.10) | 0.00 | (0.10) | 0.00 | 2.35 | 5.51 | |||
| TNCA | 5.02 | (0.63) | 0.00 | (2.47) | 0.00 | 13.73 | 40.58 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Jaya Trishindo 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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