Tembaga Mulia Correlations
| TBMS Stock | IDR 930.00 5.00 0.53% |
The current 90-days correlation between Tembaga Mulia Semanan and Rukun Raharja Tbk is 0.09 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Tembaga Mulia moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Tembaga Mulia Semanan moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Tembaga Mulia Correlation With Market
Good diversification
The correlation between Tembaga Mulia Semanan and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tembaga Mulia Semanan and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Tembaga Mulia could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Tembaga Mulia 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 Tembaga Mulia - 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 Tembaga Mulia Semanan to buy it.
Moving together with Tembaga Stock
Moving against Tembaga Stock
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