Jayamas Medica Correlations
| OMED Stock | 166.00 1.00 0.61% |
The current 90-days correlation between Jayamas Medica Industri and Global Mediacom Tbk is 0.1 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Jayamas Medica moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Jayamas Medica Industri moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Jayamas Medica Correlation With Market
Significant diversification
The correlation between Jayamas Medica Industri and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jayamas Medica Industri and DJI in the same portfolio, assuming nothing else is changed.
Jayamas |
The ability to find closely correlated positions to Jayamas Medica could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Jayamas Medica 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 Jayamas Medica - 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 Jayamas Medica Industri to buy it.
Moving together with Jayamas Stock
| 0.89 | MARK | Mark Dynamics Indonesia | PairCorr |
| 0.78 | BIPI | Benakat Petroleum Energy | PairCorr |
| 0.61 | TAMU | PT Pelayaran Tamarin | PairCorr |
| 0.64 | BYAN | Bayan Resources Tbk | PairCorr |
| 0.83 | ADMR | Adaro Minerals Indonesia | PairCorr |
| 0.82 | INCO | Vale Indonesia Tbk | PairCorr |
Moving against Jayamas Stock
| 0.91 | IKAN | Era Mandiri Cemerlang | PairCorr |
| 0.86 | KOPI | Mitra Energi Persada | PairCorr |
| 0.75 | TBIG | Tower Bersama Infras | PairCorr |
| 0.74 | ANJT | Austindo Nusantara Jaya | PairCorr |
| 0.71 | PGJO | Tourindo Guide Indonesia | PairCorr |
| 0.67 | NFCX | NFC Indonesia PT | PairCorr |
| 0.67 | CARS | Industri Dan Perdagangan | PairCorr |
| 0.66 | KING | Hoffmen Cleanindo | PairCorr |
| 0.58 | BOLT | Garuda Metalindo Tbk | PairCorr |
| 0.36 | CBRE | PT Cakra Buana | PairCorr |
| 0.35 | ITMA | Sumber Energi Andalan | PairCorr |
| 0.32 | MAPI | Mitra Adiperkasa Tbk | PairCorr |
| 0.87 | SMDM | Suryamas Dutamakmur Tbk | PairCorr |
| 0.86 | INDO | Royalindo Investa Wijaya | PairCorr |
| 0.86 | MINA | Sanurhasta Mitra Earnings Call Next Week | PairCorr |
| 0.81 | LFLO | Imago Mulia Persada | PairCorr |
| 0.81 | BHAT | Bhakti Multi Artha | PairCorr |
| 0.81 | NICK | Charnic Capital Tbk Earnings Call Next Week | PairCorr |
| 0.79 | MFMI | Multifiling Mitra | PairCorr |
| 0.77 | AREA | Dunia Virtual Online | PairCorr |
| 0.76 | LPPF | Matahari Department Store | PairCorr |
Related Correlations Analysis
| 0.79 | 0.62 | -0.62 | 0.67 | 0.0 | 0.73 | BMTR | ||
| 0.79 | 0.54 | -0.51 | 0.59 | 0.0 | 0.67 | FPNI | ||
| 0.62 | 0.54 | -0.57 | 0.62 | 0.0 | 0.49 | TMPO | ||
| -0.62 | -0.51 | -0.57 | -0.75 | 0.0 | -0.55 | CRSN | ||
| 0.67 | 0.59 | 0.62 | -0.75 | 0.0 | 0.66 | LPGI | ||
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | KRAH | ||
| 0.73 | 0.67 | 0.49 | -0.55 | 0.66 | 0.0 | GLVA | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Jayamas Stock performing well and Jayamas Medica 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 Jayamas Medica'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| BMTR | 1.87 | (0.46) | 0.00 | (2.49) | 0.00 | 4.05 | 13.04 | |||
| FPNI | 1.08 | (0.12) | 0.00 | 0.28 | 0.00 | 2.19 | 9.13 | |||
| TMPO | 4.25 | 0.40 | 0.09 | 0.30 | 3.77 | 13.37 | 47.04 | |||
| CRSN | 1.63 | 0.32 | 0.22 | (10.66) | 1.46 | 3.09 | 12.96 | |||
| LPGI | 0.75 | (0.07) | 0.00 | (0.71) | 0.00 | 0.64 | 8.54 | |||
| KRAH | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| GLVA | 2.09 | (0.13) | 0.00 | 0.58 | 0.00 | 5.66 | 18.40 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Jayamas Medica 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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