Tunas Baru Correlations
| TBLA Stock | IDR 645.00 5.00 0.78% |
The current 90-days correlation between Tunas Baru Lampung and Kalbe Farma Tbk is 0.05 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Tunas Baru moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Tunas Baru Lampung moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Tunas Baru Correlation With Market
Good diversification
The correlation between Tunas Baru Lampung and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tunas Baru Lampung and DJI in the same portfolio, assuming nothing else is changed.
Tunas |
The ability to find closely correlated positions to Tunas Baru could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Tunas Baru 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 Tunas Baru - 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 Tunas Baru Lampung to buy it.
Moving together with Tunas Stock
Moving against Tunas Stock
| 0.76 | BEBS | Berkah Beton Sadaya | PairCorr |
| 0.72 | SURE | Super Energy Tbk | PairCorr |
| 0.64 | UNVR | Unilever Indonesia Tbk | PairCorr |
Related Correlations Analysis
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Be your own money manager
Our tools can tell you how much better you can do entering a position in Tunas Baru 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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