Hero Supermarket Correlations
| HERO Stock | IDR 595.00 5.00 0.83% |
The current 90-days correlation between Hero Supermarket Tbk and Kalbe Farma Tbk is 0.12 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Hero Supermarket moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hero Supermarket Tbk moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Hero Supermarket Correlation With Market
Significant diversification
The correlation between Hero Supermarket Tbk 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 Hero Supermarket Tbk and DJI in the same portfolio, assuming nothing else is changed.
Hero |
The ability to find closely correlated positions to Hero Supermarket could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hero Supermarket 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 Hero Supermarket - 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 Hero Supermarket Tbk to buy it.
Moving against Hero Stock
Related Correlations Analysis
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Be your own money manager
Our tools can tell you how much better you can do entering a position in Hero Supermarket 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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