Pertamina Geothermal Correlations
| PGEO Stock | 810.00 10.00 1.22% |
The current 90-days correlation between Pertamina Geothermal and Victoria Insurance Tbk is -0.11 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Pertamina Geothermal moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Pertamina Geothermal Energy moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Pertamina |
The ability to find closely correlated positions to Pertamina Geothermal could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Pertamina Geothermal 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 Pertamina Geothermal - 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 Pertamina Geothermal Energy to buy it.
Moving together with Pertamina Stock
| 0.7 | BBCA | Bank Central Asia | PairCorr |
| 0.63 | BBRI | Bank Rakyat Indonesia | PairCorr |
| 0.79 | BMRI | Bank Mandiri Persero | PairCorr |
| 0.64 | AMRT | Sumber Alfaria Trijaya | PairCorr |
| 0.7 | HMSP | Hanjaya Mandala Sampoerna | PairCorr |
Moving against Pertamina Stock
Related Correlations Analysis
| 0.49 | 0.0 | 0.34 | 0.44 | -0.63 | 0.53 | VINS | ||
| 0.49 | 0.0 | 0.17 | 0.31 | -0.63 | 0.56 | GLVA | ||
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ENVY | ||
| 0.34 | 0.17 | 0.0 | 0.32 | -0.32 | 0.29 | GSMF | ||
| 0.44 | 0.31 | 0.0 | 0.32 | -0.59 | 0.62 | ACES | ||
| -0.63 | -0.63 | 0.0 | -0.32 | -0.59 | -0.89 | CASA | ||
| 0.53 | 0.56 | 0.0 | 0.29 | 0.62 | -0.89 | BBSI | ||
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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 Pertamina Stock performing well and Pertamina Geothermal 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 Pertamina Geothermal'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| VINS | 1.34 | (0.08) | 0.00 | 0.82 | 0.00 | 2.86 | 9.43 | |||
| GLVA | 1.97 | (0.03) | 0.00 | 0.22 | 0.00 | 5.66 | 18.40 | |||
| ENVY | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| GSMF | 1.30 | (0.07) | 0.00 | 0.20 | 0.00 | 1.92 | 20.62 | |||
| ACES | 2.12 | (0.68) | 0.00 | 2.19 | 0.00 | 3.75 | 20.57 | |||
| CASA | 1.72 | 0.65 | 0.28 | (1.71) | 1.50 | 4.72 | 13.63 | |||
| BBSI | 0.44 | (0.07) | 0.00 | (0.59) | 0.00 | 1.00 | 7.16 |
Pertamina Geothermal 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 Pertamina Geothermal stock to make a market-neutral strategy. Peer analysis of Pertamina Geothermal could also be used in its relative valuation, which is a method of valuing Pertamina Geothermal by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |