Asuransi Dayin Correlations
| ASDM Stock | IDR 488.00 8.00 1.67% |
The current 90-days correlation between Asuransi Dayin Mitra and Asuransi Bintang Tbk is 0.45 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Asuransi Dayin moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Asuransi Dayin Mitra moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Asuransi Dayin Correlation With Market
Significant diversification
The correlation between Asuransi Dayin Mitra and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Asuransi Dayin Mitra and DJI in the same portfolio, assuming nothing else is changed.
Asuransi |
The ability to find closely correlated positions to Asuransi Dayin could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Asuransi Dayin 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 Asuransi Dayin - 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 Asuransi Dayin Mitra to buy it.
Moving together with Asuransi Stock
| 0.68 | ASII | Astra International Tbk | PairCorr |
| 0.73 | BBRI | Bank Rakyat Indonesia | PairCorr |
| 0.84 | BMRI | Bank Mandiri Persero Earnings Call This Week | PairCorr |
| 0.68 | GGRM | Gudang Garam Tbk | PairCorr |
| 0.84 | HMSP | Hanjaya Mandala Sampoerna | PairCorr |
| 0.8 | BBCA | Bank Central Asia Earnings Call Tomorrow | PairCorr |
| 0.74 | AMRT | Sumber Alfaria Trijaya | PairCorr |
| 0.61 | UNTR | United Tractors Tbk | PairCorr |
| 0.86 | BBNI | Bank Negara Indonesia Earnings Call Tomorrow | PairCorr |
Related Correlations Analysis
| 0.72 | 0.89 | 0.91 | 0.52 | ASBI | ||
| 0.72 | 0.86 | 0.77 | 0.58 | ABDA | ||
| 0.89 | 0.86 | 0.89 | 0.58 | ASRM | ||
| 0.91 | 0.77 | 0.89 | 0.57 | AHAP | ||
| 0.52 | 0.58 | 0.58 | 0.57 | ASJT | ||
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Risk-Adjusted Indicators
There is a big difference between Asuransi Stock performing well and Asuransi Dayin 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 Asuransi Dayin'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ASBI | 3.58 | (1.02) | 0.00 | 1.86 | 0.00 | 8.90 | 33.19 | |||
| ABDA | 0.19 | (0.11) | 0.00 | (1.37) | 0.00 | 0.00 | 6.40 | |||
| ASRM | 1.14 | (0.16) | 0.00 | (0.67) | 0.00 | 1.84 | 8.46 | |||
| AHAP | 1.40 | (0.34) | 0.00 | (2.49) | 0.00 | 2.30 | 10.05 | |||
| ASJT | 1.33 | (0.04) | 0.00 | (0.21) | 0.00 | 2.70 | 11.63 |
Be your own money manager
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