Pelayaran Kurnia Correlations

KLAS Stock

103.00 6.00 5.50%

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

Pelayaran Kurnia Correlation With Market

Good diversification

The correlation between Pelayaran Kurnia Lautan and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pelayaran Kurnia Lautan and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Pelayaran Stock

0.62	ECII	Electronic City Indonesia	Pair Corr
0.44	RODA	Pikko Land Development	Pair Corr
0.4	BYAN	Bayan Resources Tbk	Pair Corr
0.31	CINT	Chitose Internasional Tbk	Pair Corr
0.69	ADRO	Adaro Energy Tbk	Pair Corr
0.55	MYOH	Samindo Resources Tbk	Pair Corr
0.47	RAFI	PT Sari Kreasi	Pair Corr
0.43	POWR	Cikarang Listrindo Tbk	Pair Corr
0.41	AXIO	Tera Data Indonusa	Pair Corr
0.37	JSPT	Jakarta Setiabudi	Pair Corr
0.32	JIHD	Jakarta Int Hotels	Pair Corr

Related Correlations Analysis

	BBCA	BBRI	BYAN	BMRI	ASII	BBNI	UNVR	AMRT	HMSP
BBCA		0.86	-0.69	0.91	0.49	0.93	0.77	0.8	0.71	BBCA
BBRI	0.86		-0.87	0.96	0.19	0.91	0.8	0.74	0.84	BBRI
BYAN	-0.69	-0.87		-0.87	-0.01	-0.82	-0.63	-0.74	-0.81	BYAN
BMRI	0.91	0.96	-0.87		0.31	0.97	0.82	0.8	0.82	BMRI
ASII	0.49	0.19	-0.01	0.31		0.41	0.18	0.44	0.07	ASII
BBNI	0.93	0.91	-0.82	0.97	0.41		0.78	0.85	0.76	BBNI
UNVR	0.77	0.8	-0.63	0.82	0.18	0.78		0.62	0.78	UNVR
AMRT	0.8	0.74	-0.74	0.8	0.44	0.85	0.62		0.6	AMRT
HMSP	0.71	0.84	-0.81	0.82	0.07	0.76	0.78	0.6		HMSP
	BBCA	BBRI	BYAN	BMRI	ASII	BBNI	UNVR	AMRT	HMSP

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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

BBNI	+ 0.97	BMRI
BMRI	+ 0.96	BBRI
BBNI	+ 0.93	BBCA
BMRI	+ 0.91	BBCA
BBNI	+ 0.91	BBRI
BBRI	+ 0.86	BBCA

High negative correlations

BMRI	- 0.87	BYAN
BYAN	- 0.87	BBRI
BBNI	- 0.82	BYAN
HMSP	- 0.81	BYAN
AMRT	- 0.74	BYAN
BYAN	- 0.69	BBCA

Risk-Adjusted Indicators

There is a big difference between Pelayaran Stock performing well and Pelayaran Kurnia 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 Pelayaran Kurnia'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
BBCA	1.13	(0.16)	0.00	(2.50)	0.00	0.00	2.39	(2.40)	7.01
BBRI	1.39	(0.40)	0.00	4.66	0.00	0.00	2.59	(2.74)	6.47
BYAN	0.80	0.32	0.18	1.05	0.77	(1.01)	3.50	(1.33)	9.14
BMRI	1.49	(0.37)	0.00	1.79	0.00	0.00	2.91	(3.19)	9.85
ASII	1.27	(0.06)	0.00	0.33	0.00	0.00	3.43	(2.86)	8.53
BBNI	1.52	(0.41)	0.00	10.98	0.00	0.00	2.88	(3.66)	8.52
UNVR	1.91	(0.25)	0.00	0.62	0.00	0.00	4.61	(3.81)	13.19
AMRT	1.71	(0.19)	0.00	0.88	0.00	0.00	3.49	(4.23)	9.84
HMSP	1.12	(0.08)	0.00	(1.86)	0.00	0.00	2.24	(2.07)	13.03

Pelayaran Kurnia Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Pelayaran Kurnia stock to make a market-neutral strategy. Peer analysis of Pelayaran Kurnia could also be used in its relative valuation, which is a method of valuing Pelayaran Kurnia by comparing valuation metrics with similar companies.

Bank Central Asia Bank Rakyat Indonesia Bayan Resources Tbk Bank Mandiri Persero Astra International Tbk Bank Negara Indonesia Unilever Indonesia Tbk Sumber Alfaria Trijaya Hanjaya Mandala Sampoerna American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

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