HEXINDO ADIPERKASA Correlations

HX1A Stock

0.20 0.01 4.76%

The current 90-days correlation between HEXINDO ADIPERKASA and Yuexiu Transport Infrastructure is -0.25 (i.e., Very good diversification). The correlation of HEXINDO ADIPERKASA 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. If the correlation is 0, the equities are not correlated; they are entirely random.

HEXINDO ADIPERKASA Correlation With Market

Average diversification

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

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

Moving together with HEXINDO Stock

0.64	APC	Apple Inc	Pair Corr
0.65	APC	Apple Inc	Pair Corr
0.63	APC	Apple Inc	Pair Corr
0.65	APC	Apple Inc	Pair Corr
0.93	MSF	Microsoft	Pair Corr
0.93	MSF	Microsoft	Pair Corr
0.93	MSF	Microsoft	Pair Corr
0.93	MSF	Microsoft	Pair Corr
0.93	MSF	Microsoft	Pair Corr
0.89	AMZ	Amazon Inc	Pair Corr
0.89	BYRA	BANK RAKYAT IND	Pair Corr
0.69	BYRA	PT Bank Rakyat	Pair Corr
0.67	BYRA	PT Bank Rakyat	Pair Corr
0.78	BYRA	BANK RAKYAT IND	Pair Corr
0.92	PQ9	PT Bank Mandiri	Pair Corr
0.95	PQ9	BANK MANDIRI	Pair Corr
0.83	DBPD	Xtrackers ShortDAX	Pair Corr

Moving against HEXINDO Stock

0.83	DBPE	Xtrackers LevDAX	Pair Corr
0.64	E908	Lyxor 1	Pair Corr

Related Correlations Analysis

	GZ3	3GH	CG5	A2P	E6Q	SHL	J73	KWO
GZ3		0.15	0.32	-0.11	-0.2	-0.05	-0.35	0.12	GZ3
3GH	0.15		0.09	0.64	0.49	0.51	0.33	-0.18	3GH
CG5	0.32	0.09		0.22	0.25	0.54	-0.7	-0.05	CG5
A2P	-0.11	0.64	0.22		0.92	0.76	0.39	-0.19	A2P
E6Q	-0.2	0.49	0.25	0.92		0.71	0.33	-0.24	E6Q
SHL	-0.05	0.51	0.54	0.76	0.71		0.04	-0.23	SHL
J73	-0.35	0.33	-0.7	0.39	0.33	0.04		-0.23	J73
KWO	0.12	-0.18	-0.05	-0.19	-0.24	-0.23	-0.23		KWO
	GZ3	3GH	CG5	A2P	E6Q	SHL	J73	KWO

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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

E6Q	+ 0.92	A2P
SHL	+ 0.76	A2P
SHL	+ 0.71	E6Q
A2P	+ 0.64	3GH
SHL	+ 0.54	CG5
SHL	+ 0.51	3GH

High negative correlations

J73	- 0.7	CG5
J73	- 0.35	GZ3
KWO	- 0.24	E6Q
KWO	- 0.23	J73
KWO	- 0.23	SHL
E6Q	- 0.2	GZ3

Risk-Adjusted Indicators

There is a big difference between HEXINDO Stock performing well and HEXINDO ADIPERKASA 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 HEXINDO ADIPERKASA'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
GZ3	1.41	0.03	0.02	0.02	1.69	(2.60)	2.33	(4.17)	8.89
3GH	1.12	0.05	0.05	0.07	1.32	(1.31)	2.90	(2.14)	7.66
CG5	2.55	(0.37)	0.00	(0.71)	0.00	0.00	5.81	(6.02)	27.25
A2P	2.23	0.51	0.18	0.74	2.13	(2.80)	6.17	(4.73)	20.94
E6Q	1.80	0.21	0.09	7.35	2.41	(1.82)	3.50	(4.11)	10.37
SHL	1.05	(0.03)	0.00	0.40	0.00	0.00	2.32	(1.74)	9.00
J73	1.74	0.36	0.16	(5.57)	1.61	(3.12)	7.00	(3.45)	16.65
KWO	1.03	0.01	0.02	0.08	1.42	(2.14)	2.15	(2.11)	18.52

Be your own money manager

Our tools can tell you how much better you can do entering a position in HEXINDO ADIPERKASA 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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