| CPRO Stock | | | IDR 61.00 11.00 22.00% |
The current 90-days correlation between Central Proteina Prima and Delta Djakarta Tbk is -0.07 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Central Proteina moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Central Proteina Prima moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Central Proteina Correlation With Market
Significant diversification
The correlation between Central Proteina Prima and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Central Proteina Prima and DJI in the same portfolio, assuming nothing else is changed.
The ability to find closely correlated positions to Central Proteina could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Central Proteina 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 Central Proteina - 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 Central Proteina Prima to buy it.
Moving together with Central Stock
Moving against Central Stock
Related Correlations Analysis
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 | MERK | | DLTA | | ULTJ | | DLTA | | ULTJ | | MERK | | ULTJ | | MYOR |
| | High negative correlations |
Risk-Adjusted IndicatorsThere is a big difference between Central Stock performing well and Central Proteina 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 Central Proteina'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.
Be your own money manager
Our tools can tell you how much better you can do entering a position in Central Proteina 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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