Multi Spunindo Correlations

MSJA Stock

360.00 6.00 1.64%

The current 90-days correlation between Multi Spunindo Jaya and Bank Central Asia is -0.11 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Multi Spunindo moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Multi Spunindo Jaya moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Multi Spunindo Correlation With Market

Significant diversification

The correlation between Multi Spunindo Jaya and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Multi Spunindo Jaya and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Multi Stock

0.62	BBCA	Bank Central Asia	Pair Corr
0.48	UNVR	Unilever Indonesia Tbk	Pair Corr
0.47	AMRT	Sumber Alfaria Trijaya	Pair Corr
0.42	BBNI	Bank Negara Indonesia	Pair Corr
0.37	HMSP	Hanjaya Mandala Sampoerna	Pair Corr
0.36	BMRI	Bank Mandiri Persero	Pair Corr

Related Correlations Analysis

	BBCA	BBRI	BYAN	BMRI	ASII	TPIA	BBNI	UNVR	AMRT	HMSP
BBCA		0.59	-0.6	0.63	0.48	0.53	0.75	0.56	0.69	0.53	BBCA
BBRI	0.59		-0.8	0.95	0.02	0.81	0.88	0.79	0.12	0.81	BBRI
BYAN	-0.6	-0.8		-0.77	-0.06	-0.76	-0.74	-0.7	-0.31	-0.78	BYAN
BMRI	0.63	0.95	-0.77		0.07	0.86	0.94	0.85	0.27	0.78	BMRI
ASII	0.48	0.02	-0.06	0.07		0.17	0.22	-0.02	0.51	-0.04	ASII
TPIA	0.53	0.81	-0.76	0.86	0.17		0.79	0.85	0.29	0.7	TPIA
BBNI	0.75	0.88	-0.74	0.94	0.22	0.79		0.77	0.47	0.7	BBNI
UNVR	0.56	0.79	-0.7	0.85	-0.02	0.85	0.77		0.24	0.75	UNVR
AMRT	0.69	0.12	-0.31	0.27	0.51	0.29	0.47	0.24		0.17	AMRT
HMSP	0.53	0.81	-0.78	0.78	-0.04	0.7	0.7	0.75	0.17		HMSP
	BBCA	BBRI	BYAN	BMRI	ASII	TPIA	BBNI	UNVR	AMRT	HMSP

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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

BMRI	+ 0.95	BBRI
BBNI	+ 0.94	BMRI
BBNI	+ 0.88	BBRI
TPIA	+ 0.86	BMRI
UNVR	+ 0.85	BMRI
UNVR	+ 0.85	TPIA

High negative correlations

BYAN	- 0.8	BBRI
HMSP	- 0.78	BYAN
BMRI	- 0.77	BYAN
TPIA	- 0.76	BYAN
BBNI	- 0.74	BYAN
UNVR	- 0.7	BYAN

Risk-Adjusted Indicators

There is a big difference between Multi Stock performing well and Multi Spunindo 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 Multi Spunindo'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
BBCA	1.06	(0.07)	0.00	(0.21)	0.00	0.00	2.18	(1.72)	5.64
BBRI	1.23	(0.25)	0.00	3.21	0.00	0.00	2.42	(2.68)	7.58
BYAN	0.81	0.24	0.09	2.74	0.90	(1.05)	3.45	(1.20)	9.14
BMRI	1.28	(0.05)	0.00	0.21	0.00	0.00	2.85	(2.66)	8.63
ASII	1.14	0.00	(0.06)	0.10	1.26	(1.44)	3.43	(2.42)	6.32
TPIA	2.30	(0.39)	0.00	(2.19)	0.00	0.00	6.12	(4.51)	19.94
BBNI	1.22	(0.08)	0.00	0.56	0.00	0.00	2.73	(2.68)	8.76
UNVR	1.72	(0.23)	0.00	0.89	0.00	0.00	4.24	(3.81)	13.19
AMRT	1.43	0.04	(0.04)	(0.03)	1.95	(1.65)	3.21	(2.68)	9.84
HMSP	1.40	(0.16)	0.00	(1.36)	0.00	0.00	2.72	(2.74)	13.03

Multi Spunindo 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 Multi Spunindo stock to make a market-neutral strategy. Peer analysis of Multi Spunindo could also be used in its relative valuation, which is a method of valuing Multi Spunindo by comparing valuation metrics with similar companies.

Bank Central Asia Bank Rakyat Indonesia Bayan Resources Tbk Bank Mandiri Persero Astra International Tbk Chandra Asri Petrochemical Bank Negara Indonesia Unilever Indonesia Tbk Sumber Alfaria Trijaya Hanjaya Mandala Sampoerna American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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