PT Verona Correlations
| VERN Stock | 169.00 6.00 3.68% |
The current 90-days correlation between PT Verona Indah and Metrodata Electronics Tbk is -0.06 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as PT Verona moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if PT Verona Indah moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
PT Verona Correlation With Market
Good diversification
The correlation between PT Verona Indah 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 PT Verona Indah and DJI in the same portfolio, assuming nothing else is changed.
VERN |
The ability to find closely correlated positions to PT Verona could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace PT Verona 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 PT Verona - 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 PT Verona Indah to buy it.
Moving against VERN Stock
| 0.58 | BBRI | Bank Rakyat Indonesia | PairCorr |
| 0.57 | HMSP | Hanjaya Mandala Sampoerna | PairCorr |
| 0.45 | BMRI | Bank Mandiri Persero | PairCorr |
| 0.37 | TPIA | Chandra Asri Petroch | PairCorr |
Related Correlations Analysis
| -0.36 | -0.41 | 0.25 | 0.29 | 0.22 | MTDL | ||
| -0.36 | 0.49 | -0.2 | -0.47 | -0.19 | OASA | ||
| -0.41 | 0.49 | -0.24 | -0.47 | -0.25 | TPIA | ||
| 0.25 | -0.2 | -0.24 | 0.62 | 0.76 | ACES | ||
| 0.29 | -0.47 | -0.47 | 0.62 | 0.52 | GLVA | ||
| 0.22 | -0.19 | -0.25 | 0.76 | 0.52 | AMOR | ||
| 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
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between VERN Stock performing well and PT Verona 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 PT Verona'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| MTDL | 1.12 | 0.03 | 0.00 | 0.02 | 0.00 | 2.38 | 5.63 | |||
| OASA | 1.30 | (0.07) | 0.00 | (0.26) | 0.00 | 2.78 | 11.68 | |||
| TPIA | 2.08 | (0.53) | 0.00 | 2.66 | 0.00 | 4.72 | 19.94 | |||
| ACES | 1.86 | 0.26 | 0.05 | (0.26) | 1.90 | 4.02 | 15.46 | |||
| GLVA | 0.66 | 0.04 | (0.04) | (2.64) | 0.80 | 1.80 | 6.81 | |||
| AMOR | 2.22 | 0.37 | 0.05 | (0.33) | 3.11 | 6.32 | 32.83 |
PT Verona Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with PT Verona stock to make a market-neutral strategy. Peer analysis of PT Verona could also be used in its relative valuation, which is a method of valuing PT Verona by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |