| SCCO Stock | | | IDR 2,200 20.00 0.90% |
The current 90-days correlation between Supreme Cable Manufa and Citra Marga Nusaphala is -0.26 (i.e., Very good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Supreme Cable moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Supreme Cable Manufacturing moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Supreme Cable Correlation With Market
Average diversification
The correlation between Supreme Cable Manufacturing and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Supreme Cable Manufacturing and DJI in the same portfolio, assuming nothing else is changed.
The ability to find closely correlated positions to Supreme Cable could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Supreme Cable 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 Supreme Cable - 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 Supreme Cable Manufacturing to buy it.
Moving against Supreme Stock
Related Correlations Analysis
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 | CMNP | | AUTO | | MTDL | | CMNP | | GJTL | | AUTO | | GJTL | | MTDL |
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Risk-Adjusted IndicatorsThere is a big difference between Supreme Stock performing well and Supreme Cable 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 Supreme Cable'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.
Be your own money manager
Our tools can tell you how much better you can do entering a position in Supreme Cable 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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Supreme Cable Corporate Management
Elected by the shareholders, the Supreme Cable's board of directors comprises two types of representatives: Supreme Cable inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Supreme. The board's role is to monitor Supreme Cable's management team and ensure that shareholders' interests are well served. Supreme Cable's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Supreme Cable's outside directors are responsible for providing unbiased perspectives on the board's policies.