Bank Mega Correlations
| MEGA Stock | IDR 3,490 10.00 0.29% |
The current 90-days correlation between Bank Mega Tbk and Bank Ocbc Nisp is 0.17 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Bank Mega moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Bank Mega Tbk moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Bank Mega Correlation With Market
Good diversification
The correlation between Bank Mega Tbk and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bank Mega Tbk and DJI in the same portfolio, assuming nothing else is changed.
Bank |
The ability to find closely correlated positions to Bank Mega could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bank Mega 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 Bank Mega - 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 Bank Mega Tbk to buy it.
Moving together with Bank Stock
| 0.7 | ASDM | Asuransi Dayin Mitra | PairCorr |
| 0.67 | MTDL | Metrodata Electronics Tbk | PairCorr |
| 0.61 | ASRM | Asuransi Ramayana Tbk | PairCorr |
| 0.73 | BNBA | Bank Bumi Arta | PairCorr |
Moving against Bank Stock
| 0.8 | WIFI | Solusi Sinergi Digital | PairCorr |
| 0.68 | BINA | Bank Ina Perdana | PairCorr |
| 0.45 | CMNP | Citra Marga Nusaphala | PairCorr |
| 0.45 | EDGE | Indointernet Tbk | PairCorr |
Related Correlations Analysis
| 0.49 | -0.49 | 0.67 | 0.41 | NISP | ||
| 0.49 | -0.63 | 0.62 | 0.84 | MAYA | ||
| -0.49 | -0.63 | -0.92 | -0.73 | BNLI | ||
| 0.67 | 0.62 | -0.92 | 0.74 | PNBN | ||
| 0.41 | 0.84 | -0.73 | 0.74 | INPC | ||
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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
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Risk-Adjusted Indicators
There is a big difference between Bank Stock performing well and Bank Mega 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 Bank Mega'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NISP | 0.81 | (0.04) | 0.00 | 0.08 | 0.00 | 1.95 | 6.49 | |||
| MAYA | 1.73 | (0.36) | 0.00 | 3.20 | 0.00 | 4.17 | 10.25 | |||
| BNLI | 2.74 | 1.46 | 0.39 | 4.83 | 2.25 | 7.73 | 27.48 | |||
| PNBN | 2.12 | (0.47) | 0.00 | 1.69 | 0.00 | 3.63 | 14.68 | |||
| INPC | 5.45 | (1.29) | 0.00 | (3.81) | 0.00 | 16.19 | 36.79 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Bank Mega 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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