Surya Toto Correlations
| TOTO Stock | IDR 226.00 2.00 0.89% |
The current 90-days correlation between Surya Toto Indonesia and Rukun Raharja Tbk is -0.07 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Surya Toto moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Surya Toto Indonesia moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Surya Toto Correlation With Market
Good diversification
The correlation between Surya Toto Indonesia and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Surya Toto Indonesia and DJI in the same portfolio, assuming nothing else is changed.
Surya |
The ability to find closely correlated positions to Surya Toto could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Surya Toto 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 Surya Toto - 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 Surya Toto Indonesia to buy it.
Moving together with Surya Stock
Moving against Surya Stock
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