PAM Mineral Correlations

Stocks . Indonesia . 
Stock . PAM Mineral Tbk
NICL Stock   300.00  4.00  1.35%   
The current 90-days correlation between PAM Mineral Tbk and Bank Panin Syariah is 0.13 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as PAM Mineral moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if PAM Mineral Tbk moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

PAM Mineral Correlation With Market

Good diversification

The correlation between PAM Mineral Tbk and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PAM Mineral Tbk and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to PAM Mineral could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace PAM Mineral 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 PAM Mineral - 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 PAM Mineral Tbk to buy it.

Moving against PAM Stock

  0.33BNLI Bank Permata TbkPairCorr
  0.32MDKA Merdeka Copper GoldPairCorr
  0.31IFSH Ifishdeco PTPairCorr
  0.31BBCA Bank Central AsiaPairCorr

Related Correlations Analysis

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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   
DKFT
+ 0.9
BRMS
PNBS
+ 0.68
ARCI
BUKA
+ 0.49
ARCI
BUKA
+ 0.45
PNBS
BUKA
+ 0.28
BRMS
  
High negative correlations   
DKFT
- 0.62
ARCI
BRMS
- 0.35
ARCI
DKFT
- 0.33
PNBS
PNBS
- 0.11
BRMS
BUKA
- 0.03
DKFT

Risk-Adjusted Indicators

There is a big difference between PAM Stock performing well and PAM Mineral 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 PAM Mineral'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 PAM Mineral 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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