Summarecon Agung Correlations

SMRA Stock

IDR 535.00 10.00 1.83%

The current 90-days correlation between Summarecon Agung Tbk and Lippo Karawaci Tbk is 0.32 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Summarecon Agung moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Summarecon Agung Tbk moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Summarecon Agung Correlation With Market

Good diversification

The correlation between Summarecon Agung Tbk and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Summarecon Agung Tbk and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Summarecon Stock

0.73	GGRM	Gudang Garam Tbk	Pair Corr
0.77	ADMF	Adira Dinamika Multi	Pair Corr
0.63	AMFG	Asahimas Flat Glass	Pair Corr
0.69	BBNI	Bank Negara Indonesia	Pair Corr
0.69	MKPI	Metropolitan Kentjana Tbk	Pair Corr

Related Correlations Analysis

	LPCK	LPKR	MPMX	JIHD	TECH	ISAT	BBNI	CASA	INOV
LPCK		0.26	0.62	-0.71	0.0	0.13	0.6	0.09	-0.17	LPCK
LPKR	0.26		-0.18	0.23	0.0	-0.81	-0.22	0.34	0.22	LPKR
MPMX	0.62	-0.18		-0.82	0.0	0.52	0.89	-0.42	-0.62	MPMX
JIHD	-0.71	0.23	-0.82		0.0	-0.51	-0.72	0.42	0.56	JIHD
TECH	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	TECH
ISAT	0.13	-0.81	0.52	-0.51	0.0		0.56	-0.46	-0.46	ISAT
BBNI	0.6	-0.22	0.89	-0.72	0.0	0.56		-0.28	-0.53	BBNI
CASA	0.09	0.34	-0.42	0.42	0.0	-0.46	-0.28		0.72	CASA
INOV	-0.17	0.22	-0.62	0.56	0.0	-0.46	-0.53	0.72		INOV
	LPCK	LPKR	MPMX	JIHD	TECH	ISAT	BBNI	CASA	INOV

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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	+ 0.89	MPMX
INOV	+ 0.72	CASA
MPMX	+ 0.62	LPCK
BBNI	+ 0.6	LPCK
INOV	+ 0.56	JIHD
BBNI	+ 0.56	ISAT

High negative correlations

JIHD	- 0.82	MPMX
ISAT	- 0.81	LPKR
BBNI	- 0.72	JIHD
JIHD	- 0.71	LPCK
INOV	- 0.62	MPMX
INOV	- 0.53	BBNI

Risk-Adjusted Indicators

There is a big difference between Summarecon Stock performing well and Summarecon Agung 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 Summarecon Agung'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
LPCK	1.89	(0.24)	0.00	0.86	0.00	0.00	3.36	(4.52)	21.54
LPKR	3.19	0.42	0.11	0.95	2.82	(4.39)	7.95	(5.61)	26.25
MPMX	0.42	(0.05)	0.00	1.66	0.00	0.00	0.51	(0.98)	2.48
JIHD	6.28	3.67	0.86	5.18	1.97	(8.89)	24.79	(5.03)	34.81
TECH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ISAT	3.40	(1.36)	0.00	(1.52)	0.00	0.00	5.12	(5.74)	79.95
BBNI	1.23	(0.09)	0.00	0.56	0.00	0.00	2.73	(2.68)	8.76
CASA	1.44	0.07	(0.03)	(0.39)	2.08	(2.05)	3.60	(2.86)	21.12
INOV	1.78	0.07	(0.03)	(0.23)	2.04	(2.61)	3.19	(4.04)	22.27

Be your own money manager

Our tools can tell you how much better you can do entering a position in Summarecon Agung 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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