Digital Mediatama Correlations
| DMMX Stock | IDR 318.00 10.00 3.25% |
The current 90-days correlation between Digital Mediatama Maxima and M Cash Integrasi is 0.13 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Digital Mediatama moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Digital Mediatama Maxima moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Digital Mediatama Correlation With Market
Significant diversification
The correlation between Digital Mediatama Maxima and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Digital Mediatama Maxima and DJI in the same portfolio, assuming nothing else is changed.
Digital |
The ability to find closely correlated positions to Digital Mediatama could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Digital Mediatama 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 Digital Mediatama - 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 Digital Mediatama Maxima to buy it.
Moving against Digital Stock
Related Correlations Analysis
| 0.04 | -0.45 | -0.49 | -0.13 | EMTK | ||
| 0.04 | -0.14 | 0.13 | 0.25 | MCAS | ||
| -0.45 | -0.14 | 0.79 | -0.44 | ARTO | ||
| -0.49 | 0.13 | 0.79 | -0.12 | BBYB | ||
| -0.13 | 0.25 | -0.44 | -0.12 | NFCX | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
|
Risk-Adjusted Indicators
There is a big difference between Digital Stock performing well and Digital Mediatama 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 Digital Mediatama'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| EMTK | 2.86 | 0.54 | 0.15 | (0.68) | 3.10 | 7.83 | 14.12 | |||
| MCAS | 2.26 | 0.23 | 0.07 | (0.65) | 2.73 | 6.83 | 13.97 | |||
| ARTO | 2.34 | (0.50) | 0.00 | 2.85 | 0.00 | 4.31 | 16.30 | |||
| BBYB | 2.20 | (0.34) | 0.00 | 4.46 | 0.00 | 4.27 | 31.62 | |||
| NFCX | 2.26 | 0.16 | 0.04 | 0.17 | 3.16 | 6.03 | 19.41 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Digital Mediatama 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?
Run Efficient Frontier Now
Efficient FrontierPlot and analyze your portfolio and positions against risk-return landscape of the market. |
| All Next | Launch Module |