Estika Tata Correlations
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The current 90-days correlation between Estika Tata Tiara and Sentra Food Indonesia is -0.15 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Estika Tata moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Estika Tata Tiara moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Estika Tata Correlation With Market
Average diversification
The correlation between Estika Tata Tiara and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Estika Tata Tiara and DJI in the same portfolio, assuming nothing else is changed.
Estika |
The ability to find closely correlated positions to Estika Tata could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Estika Tata 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 Estika Tata - 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 Estika Tata Tiara to buy it.
Moving together with Estika Stock
| 0.72 | CAMP | Campina Ice Cream | PairCorr |
| 0.66 | BIKE | Sepeda Bersama Indonesia | PairCorr |
| 0.61 | BBYB | Bank Yudha Bhakti | PairCorr |
Moving against Estika Stock
| 0.63 | NINE | PT Techno9 Indonesia | PairCorr |
| 0.61 | INDF | PT Indofood Sukses | PairCorr |
| 0.58 | BUMI | Bumi Resources Tbk | PairCorr |
| 0.55 | PANI | Pratama Abadi Nusa | PairCorr |
| 0.53 | TRGU | PT Cerestar Indonesia | PairCorr |
| 0.53 | GOTO | GoTo Gojek Tokopedia | PairCorr |
| 0.44 | GOOD | Garudafood Putra Putri | PairCorr |
| 0.43 | IFII | Indonesia Fibreboard | PairCorr |
| 0.39 | KEJU | Mulia Boga Raya | PairCorr |
Related Correlations Analysis
| 0.29 | 0.09 | 0.23 | 0.42 | FOOD | ||
| 0.29 | -0.64 | 0.85 | 0.69 | HOKI | ||
| 0.09 | -0.64 | -0.62 | -0.31 | GOOD | ||
| 0.23 | 0.85 | -0.62 | 0.75 | CAMP | ||
| 0.42 | 0.69 | -0.31 | 0.75 | WEGE | ||
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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 Estika Stock performing well and Estika Tata 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 Estika Tata'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| FOOD | 1.13 | 0.01 | (0.06) | 0.25 | 1.14 | 2.59 | 8.37 | |||
| HOKI | 1.69 | (0.14) | 0.00 | (0.04) | 0.00 | 4.03 | 21.00 | |||
| GOOD | 1.21 | 0.03 | 0.01 | 0.16 | 1.68 | 2.72 | 14.11 | |||
| CAMP | 1.15 | (0.48) | 0.00 | (0.57) | 0.00 | 2.01 | 7.49 | |||
| WEGE | 1.47 | (0.10) | 0.00 | 0.44 | 0.00 | 3.53 | 14.22 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Estika Tata 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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