Reliance Securities Correlations
| RELI Stock | IDR 468.00 84.00 21.88% |
The current 90-days correlation between Reliance Securities Tbk and Panca Global Securities is -0.24 (i.e., Very good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Reliance Securities moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Reliance Securities Tbk moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Reliance Securities Correlation With Market
Good diversification
The correlation between Reliance Securities Tbk and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Reliance Securities Tbk and DJI in the same portfolio, assuming nothing else is changed.
Reliance |
The ability to find closely correlated positions to Reliance Securities could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Reliance Securities 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 Reliance Securities - 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 Reliance Securities Tbk to buy it.
Moving together with Reliance Stock
Moving against Reliance Stock
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| 0.56 | INAI | Indal Aluminium Industry | PairCorr |
| 0.51 | LINK | Link Net Tbk | PairCorr |
| 0.34 | BUVA | Bukit Uluwatu Villa | PairCorr |
| 0.32 | RATU | PT Raharja Energi | PairCorr |
| 0.71 | LPPF | Matahari Department Store | PairCorr |
| 0.7 | WIFI | Solusi Sinergi Digital | PairCorr |
| 0.69 | SMDM | Suryamas Dutamakmur Tbk | PairCorr |
| 0.63 | FITT | Hotel Fitra International | PairCorr |
| 0.6 | MYOH | Samindo Resources Tbk | PairCorr |
| 0.6 | JARR | PT Jhonlin Agro | PairCorr |
| 0.57 | LSIP | Perusahaan Perkebunan | PairCorr |
| 0.54 | IFII | Indonesia Fibreboard | PairCorr |
| 0.53 | SFAN | Surya Fajar Capital | PairCorr |
| 0.52 | POLU | Golden Flower Tbk | PairCorr |
| 0.4 | GLOB | Globe Kita Terang | PairCorr |
| 0.4 | MGNA | Magna Finance Tbk | PairCorr |
| 0.33 | EDGE | Indointernet Tbk | PairCorr |
| 0.31 | TEBE | Dana Brata Luhur | PairCorr |
Related Correlations Analysis
| 0.2 | 0.54 | 0.19 | -0.15 | PEGE | ||
| 0.2 | 0.5 | -0.07 | -0.36 | PANS | ||
| 0.54 | 0.5 | -0.16 | -0.57 | TRIM | ||
| 0.19 | -0.07 | -0.16 | 0.2 | YULE | ||
| -0.15 | -0.36 | -0.57 | 0.2 | TRUS | ||
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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 Reliance Stock performing well and Reliance Securities 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 Reliance Securities' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| PEGE | 2.04 | 0.04 | 0.05 | 0.05 | 2.87 | 4.17 | 18.45 | |||
| PANS | 0.77 | (0.20) | 0.00 | (1.56) | 0.00 | 1.04 | 4.91 | |||
| TRIM | 2.26 | (0.10) | 0.00 | 0.09 | 0.00 | 4.85 | 12.24 | |||
| YULE | 0.60 | 0.15 | 0.17 | 0.58 | 0.71 | 1.12 | 13.02 | |||
| TRUS | 4.85 | 0.15 | 0.00 | (0.12) | 0.00 | 11.93 | 43.07 |
Reliance Securities 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 Reliance Securities stock to make a market-neutral strategy. Peer analysis of Reliance Securities could also be used in its relative valuation, which is a method of valuing Reliance Securities by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |