Telkom Indonesia Correlations

TLKM Stock  IDR 2,370  120.00  4.82%   
The current 90-days correlation between Telkom Indonesia Tbk and Astra International Tbk is 0.32 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Telkom Indonesia moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Telkom Indonesia Tbk moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Telkom Indonesia Correlation With Market

TelkomDowDiversified AwayTelkomDowDiversified Away100%

Good diversification

The correlation between Telkom Indonesia Tbk and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Telkom Indonesia Tbk and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Telkom Indonesia could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Telkom Indonesia 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 Telkom Indonesia - 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 Telkom Indonesia Tbk to buy it.

Moving together with Telkom Stock

  0.79BMRI Bank Mandiri PerseroPairCorr
  0.75BBCA Bank Central AsiaPairCorr
  0.63BBRI Bank Rakyat IndonesiaPairCorr
  0.69SRTG Saratoga Investama SedayaPairCorr
  0.79ASII Astra International TbkPairCorr
  0.75BBNI Bank Negara IndonesiaPairCorr
  0.73UNTR United Tractors TbkPairCorr
  0.67PTBA Bukit Asam Tbk Earnings Call This WeekPairCorr
  0.78HMSP Hanjaya Mandala SampoernaPairCorr

Moving against Telkom Stock

  0.33KREN Kresna Graha InvestamaPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
BBCAASII
BMRIASII
BBCABMRI
BMRIBBRI
BBRIASII
BBCABBRI
  
High negative correlations   
PGASBMRI
PGASBBCA
PGASASII
PGASBBRI

Risk-Adjusted Indicators

There is a big difference between Telkom Stock performing well and Telkom Indonesia 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 Telkom Indonesia'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 Telkom Indonesia 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?

Run USA ETFs Now

   

USA ETFs

Find actively traded Exchange Traded Funds (ETF) in USA
All  Next Launch Module