Indofood CBP Correlations
| PIFFY Stock | USD 13.80 1.58 10.27% |
The current 90-days correlation between Indofood CBP Sukses and Indofood Sukses Makmur is 0.06 (i.e., Significant diversification). The correlation of Indofood CBP is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.
Indofood CBP Correlation With Market
Good diversification
The correlation between Indofood CBP Sukses and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Indofood CBP Sukses and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Indofood CBP could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Indofood CBP 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 Indofood CBP - 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 Indofood CBP Sukses to buy it.
Moving together with Indofood Pink Sheet
| 0.61 | SSNLF | Samsung Electronics | PairCorr |
| 0.75 | PTAIF | PT Astra International | PairCorr |
| 0.73 | FUND | Sprott Focus Trust | PairCorr |
| 0.68 | BFLY | Butterfly Network | PairCorr |
| 0.78 | INMD | InMode | PairCorr |
| 0.62 | RUM | Rumble Inc Tech Boost | PairCorr |
| 0.67 | ET | Energy Transfer LP | PairCorr |
| 0.8 | IONQ | IONQ Inc | PairCorr |
| 0.66 | LUNR | Intuitive Machines | PairCorr |
| 0.81 | BAC | Bank of America Fiscal Year End 10th of January 2025 | PairCorr |
| 0.68 | PYPL | PayPal Holdings | PairCorr |
| 0.83 | SOFI | SoFi Technologies Aggressive Push | PairCorr |
| 0.77 | NFLX | Netflix Fiscal Year End 28th of January 2025 | PairCorr |
| 0.67 | GOOG | Alphabet Class C Aggressive Push | PairCorr |
Moving against Indofood Pink Sheet
| 0.9 | GIS | General Mills Earnings Call This Week | PairCorr |
| 0.83 | BMBOY | Grupo Bimbo SAB | PairCorr |
| 0.83 | BKRKY | Bank Rakyat | PairCorr |
| 0.83 | TLK | Telkom Indonesia Tbk | PairCorr |
| 0.82 | GRBMF | Grupo Bimbo SAB | PairCorr |
| 0.81 | MKC-V | McCormick Company | PairCorr |
| 0.79 | DANOY | Danone PK | PairCorr |
| 0.79 | PPERY | Bank Mandiri Persero | PairCorr |
| 0.78 | NSRGF | Nestle SA | PairCorr |
| 0.75 | KHC | Kraft Heinz | PairCorr |
| 0.7 | PPERF | Bank Mandiri Persero | PairCorr |
| 0.64 | PBCRY | Bank Central Asia | PairCorr |
| 0.57 | BKRKF | PT Bank Rakyat | PairCorr |
| 0.53 | GPDNF | Danone SA | PairCorr |
| 0.46 | PBCRF | PT Bank Central | PairCorr |
| 0.5 | WETH | Wetouch Technology Common | PairCorr |
Related Correlations Analysis
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Indofood Pink Sheet performing well and Indofood CBP 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 Indofood CBP'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| PIFMY | 1.87 | 0.11 | 0.01 | 0.31 | 2.40 | 6.92 | 19.17 | |||
| PFODF | 0.65 | 0.19 | 0.00 | 0.57 | 0.00 | 0.00 | 26.69 | |||
| FPAFF | 2.06 | 0.31 | 0.06 | 0.48 | 2.16 | 9.43 | 24.93 | |||
| GUZOF | 0.39 | 0.06 | 0.00 | (0.58) | 0.00 | 0.40 | 8.45 | |||
| FNEVY | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| FNEVF | 0.76 | 0.35 | 0.00 | (7.13) | 0.00 | 0.00 | 27.03 | |||
| TCYMF | 0.42 | (0.13) | 0.00 | 0.62 | 0.00 | 0.00 | 7.41 | |||
| AVSFY | 1.85 | 0.51 | 0.00 | (2.19) | 0.00 | 1.50 | 54.86 | |||
| VTSYF | 0.74 | (0.18) | 0.00 | (0.17) | 0.00 | 0.00 | 24.44 | |||
| PIFMF | 0.40 | (0.19) | 0.00 | 0.95 | 0.00 | 0.00 | 11.11 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Indofood CBP 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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