Bukit Asam Correlations
| PTBA Stock | IDR 2,770 30.00 1.07% |
The current 90-days correlation between Bukit Asam Tbk and Harum Energy Tbk is 0.45 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Bukit Asam moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Bukit Asam Tbk moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Bukit Asam Correlation With Market
Good diversification
The correlation between Bukit Asam Tbk 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 Bukit Asam Tbk and DJI in the same portfolio, assuming nothing else is changed.
Bukit |
The ability to find closely correlated positions to Bukit Asam could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bukit Asam 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 Bukit Asam - 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 Bukit Asam Tbk to buy it.
Moving together with Bukit Stock
Moving against Bukit Stock
Related Correlations Analysis
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