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
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.
Telkom |
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
| 0.79 | BMRI | Bank Mandiri Persero | PairCorr |
| 0.75 | BBCA | Bank Central Asia | PairCorr |
| 0.63 | BBRI | Bank Rakyat Indonesia | PairCorr |
| 0.69 | SRTG | Saratoga Investama Sedaya | PairCorr |
| 0.79 | ASII | Astra International Tbk | PairCorr |
| 0.75 | BBNI | Bank Negara Indonesia | PairCorr |
| 0.73 | UNTR | United Tractors Tbk | PairCorr |
| 0.67 | PTBA | Bukit Asam Tbk Earnings Call This Week | PairCorr |
| 0.78 | HMSP | Hanjaya Mandala Sampoerna | PairCorr |
Moving against Telkom Stock
Related Correlations Analysis
| 0.64 | 0.89 | 0.94 | -0.22 | ASII | ||
| 0.64 | 0.79 | 0.64 | -0.06 | BBRI | ||
| 0.89 | 0.79 | 0.87 | -0.29 | BMRI | ||
| 0.94 | 0.64 | 0.87 | -0.22 | BBCA | ||
| -0.22 | -0.06 | -0.29 | -0.22 | PGAS | ||
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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 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.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ASII | 1.33 | (0.17) | 0.00 | 0.27 | 0.00 | 2.49 | 9.41 | |||
| BBRI | 1.90 | (0.33) | 0.00 | 0.70 | 0.00 | 3.53 | 12.61 | |||
| BMRI | 2.03 | (0.45) | 0.00 | 1.77 | 0.00 | 4.58 | 14.17 | |||
| BBCA | 1.36 | (0.22) | 0.00 | 1.66 | 0.00 | 3.30 | 8.38 | |||
| PGAS | 1.60 | 0.02 | 0.02 | (0.09) | 1.99 | 3.50 | 12.79 |