PT Merdeka Correlations

EMAS Stock

8,325 75.00 0.89%

The current 90-days correlation between PT Merdeka Gold and Sumber Energi Andalan is -0.2 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as PT Merdeka moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if PT Merdeka Gold moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

PT Merdeka Correlation With Market

Poor diversification

The correlation between PT Merdeka Gold and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PT Merdeka Gold and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with EMAS Stock

0.71	BBRI	Bank Rakyat Indonesia Earnings Call Today	Pair Corr
0.63	BJBR	Bank Jabar	Pair Corr
0.88	PGAS	Perusahaan Gas Negara	Pair Corr
0.79	BMSR	Bintang Mitra Semestaraya	Pair Corr
0.69	INCI	Intanwijaya Internasional	Pair Corr
0.83	BSWD	Bank Of India	Pair Corr
0.75	LPCK	Lippo Cikarang Tbk	Pair Corr
0.71	ERTX	Eratex Djaja Tbk	Pair Corr
0.79	ALKA	Alakasa Industrindo Tbk	Pair Corr
0.83	INPP	Indonesian Paradise	Pair Corr
0.77	PPRE	PP Presisi Tbk	Pair Corr
0.75	NASI	Wahana Inti MakmurTbk	Pair Corr

Moving against EMAS Stock

0.92	BBCA	Bank Central Asia	Pair Corr
0.82	BYAN	Bayan Resources Tbk Earnings Call Tomorrow	Pair Corr
0.63	UNVR	Unilever Indonesia Tbk	Pair Corr
0.46	TPIA	Chandra Asri Petroch	Pair Corr

Related Correlations Analysis

	GGRP	SMBR	IFSH	IFII	BISI	MINE	ISSP	ITMA
GGRP		0.15	0.71	0.4	0.29	0.25	0.41	0.71	GGRP
SMBR	0.15		0.01	-0.23	0.21	0.6	0.03	-0.17	SMBR
IFSH	0.71	0.01		0.65	0.43	0.34	0.41	0.74	IFSH
IFII	0.4	-0.23	0.65		0.45	-0.01	0.46	0.71	IFII
BISI	0.29	0.21	0.43	0.45		0.46	0.18	0.3	BISI
MINE	0.25	0.6	0.34	-0.01	0.46		-0.27	-0.06	MINE
ISSP	0.41	0.03	0.41	0.46	0.18	-0.27		0.64	ISSP
ITMA	0.71	-0.17	0.74	0.71	0.3	-0.06	0.64		ITMA
	GGRP	SMBR	IFSH	IFII	BISI	MINE	ISSP	ITMA

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

ITMA	+ 0.74	IFSH
IFSH	+ 0.71	GGRP
ITMA	+ 0.71	GGRP
ITMA	+ 0.71	IFII
IFII	+ 0.65	IFSH
ITMA	+ 0.64	ISSP

High negative correlations

ISSP	- 0.27	MINE
IFII	- 0.23	SMBR
ITMA	- 0.17	SMBR
ITMA	- 0.06	MINE
MINE	- 0.01	IFII

Risk-Adjusted Indicators

There is a big difference between EMAS Stock performing well and PT Merdeka 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 PT Merdeka'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
GGRP	2.99	0.42	0.08	(5.68)	3.32	(4.08)	8.05	(4.76)	37.41
SMBR	1.62	0.03	(0.02)	0.27	2.11	(2.11)	3.76	(4.90)	12.11
IFSH	5.44	1.58	0.19	(0.72)	4.37	(9.03)	24.90	(10.00)	39.93
IFII	2.37	0.19	0.05	0.33	2.62	(4.00)	6.78	(4.29)	35.34
BISI	0.56	(0.05)	0.00	(0.66)	0.00	0.00	1.69	(1.14)	5.05
MINE	1.83	(0.11)	0.00	4.21	0.00	0.00	3.64	(4.57)	16.22
ISSP	1.66	0.33	0.07	(0.65)	2.00	(2.07)	4.42	(3.81)	12.50
ITMA	4.98	1.13	0.16	(0.99)	4.93	(6.31)	13.00	(8.69)	36.06

PT Merdeka Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with PT Merdeka stock to make a market-neutral strategy. Peer analysis of PT Merdeka could also be used in its relative valuation, which is a method of valuing PT Merdeka by comparing valuation metrics with similar companies.

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