Optima Prima Correlations

OPMS Stock

IDR 50.00 1.00 1.96%

The current 90-days correlation between Optima Prima Metal and Sentral Mitra Informatika is 0.16 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Optima Prima moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Optima Prima Metal moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Optima Prima Correlation With Market

Modest diversification

The correlation between Optima Prima Metal and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Optima Prima Metal and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Optima Stock

0.66	BBCA	Bank Central Asia	Pair Corr
0.91	BBRI	Bank Rakyat Indonesia	Pair Corr
0.91	BMRI	Bank Mandiri Persero	Pair Corr
0.71	TPIA	Chandra Asri Petroch	Pair Corr
0.76	ARTO	Bank Artos Indonesia	Pair Corr
0.73	UNVR	Unilever Indonesia Tbk	Pair Corr
0.88	GIAA	Garuda Indonesia Persero	Pair Corr

Moving against Optima Stock

0.83	BYAN	Bayan Resources Tbk	Pair Corr
0.82	DEWA	Darma Henwa Tbk	Pair Corr
0.67	WOOD	Integra Indocabinet Tbk	Pair Corr
0.57	INOV	Inocycle Technology Tbk	Pair Corr
0.51	BNBR	Bakrie Brothers Tbk	Pair Corr

Related Correlations Analysis

	MDKI	NZIA	LUCK	WOOD	MASA	IATA	PSAB	ADRO	BIPP	MBAP
MDKI		0.38	0.08	-0.56	0.0	0.45	-0.38	-0.38	-0.62	0.74	MDKI
NZIA	0.38		0.3	-0.06	0.0	0.37	0.07	-0.39	-0.39	0.35	NZIA
LUCK	0.08	0.3		0.45	0.0	-0.28	0.51	0.19	0.02	0.41	LUCK
WOOD	-0.56	-0.06	0.45		0.0	-0.69	0.77	0.41	0.69	-0.37	WOOD
MASA	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	MASA
IATA	0.45	0.37	-0.28	-0.69	0.0		-0.63	-0.59	-0.7	0.4	IATA
PSAB	-0.38	0.07	0.51	0.77	0.0	-0.63		0.43	0.54	-0.22	PSAB
ADRO	-0.38	-0.39	0.19	0.41	0.0	-0.59	0.43		0.59	-0.12	ADRO
BIPP	-0.62	-0.39	0.02	0.69	0.0	-0.7	0.54	0.59		-0.59	BIPP
MBAP	0.74	0.35	0.41	-0.37	0.0	0.4	-0.22	-0.12	-0.59		MBAP
	MDKI	NZIA	LUCK	WOOD	MASA	IATA	PSAB	ADRO	BIPP	MBAP

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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

PSAB	+ 0.77	WOOD
MBAP	+ 0.74	MDKI
BIPP	+ 0.69	WOOD
BIPP	+ 0.59	ADRO
BIPP	+ 0.54	PSAB
PSAB	+ 0.51	LUCK

High negative correlations

BIPP	- 0.7	IATA
IATA	- 0.69	WOOD
PSAB	- 0.63	IATA
BIPP	- 0.62	MDKI
MBAP	- 0.59	BIPP
ADRO	- 0.59	IATA

Risk-Adjusted Indicators

There is a big difference between Optima Stock performing well and Optima Prima 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 Optima Prima'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
MDKI	0.36	(0.06)	0.00	(0.66)	0.00	0.00	0.56	(1.10)	2.78
NZIA	3.95	0.00	0.03	0.12	4.58	(6.84)	18.07	(5.68)	56.23
LUCK	3.66	0.56	0.09	(0.99)	3.29	(6.54)	9.72	(4.55)	47.25
WOOD	1.91	0.33	0.10	(3.09)	1.67	(2.58)	4.49	(3.28)	23.44
MASA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IATA	2.41	(0.20)	(0.03)	0.01	2.75	(4.45)	7.69	(4.55)	19.64
PSAB	3.47	0.63	0.14	0.86	3.55	(4.43)	10.84	(6.34)	32.59
ADRO	1.59	0.16	0.03	1.01	1.87	(1.83)	3.44	(2.93)	14.99
BIPP	2.58	0.19	0.01	(0.54)	2.85	(4.90)	7.41	(6.67)	15.10
MBAP	1.27	(0.01)	(0.07)	(0.02)	1.48	(1.83)	2.36	(3.17)	17.06

Be your own money manager

Our tools can tell you how much better you can do entering a position in Optima Prima 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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