PT Anugerah Correlations
| AEGS Stock | 47.00 1.00 2.17% |
The correlation of PT Anugerah is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as PT Anugerah moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if PT Anugerah Spareparts moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Good diversification
The correlation between PT Anugerah Spareparts and NYA is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PT Anugerah Spareparts and NYA in the same portfolio, assuming nothing else is changed.
AEGS |
The ability to find closely correlated positions to PT Anugerah 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 Anugerah 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 Anugerah - 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 Anugerah Spareparts to buy it.
Moving together with AEGS Stock
| 0.65 | BBRI | Bank Rakyat Indonesia | PairCorr |
| 0.85 | BYAN | Bayan Resources Tbk | PairCorr |
| 0.62 | UNVR | Unilever Indonesia Tbk | PairCorr |
| 0.63 | HMSP | Hanjaya Mandala Sampoerna | PairCorr |
Moving against AEGS Stock
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
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between AEGS Stock performing well and PT Anugerah 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 Anugerah'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| BBCA | 1.20 | 0.01 | (0.02) | 0.08 | 1.44 | 3.14 | 7.36 | |||
| BBRI | 1.47 | (0.20) | 0.00 | (0.20) | 0.00 | 2.99 | 9.52 | |||
| BYAN | 0.56 | (0.08) | 0.00 | (0.50) | 0.00 | 1.18 | 5.47 | |||
| BMRI | 1.43 | (0.03) | (0.01) | 0.03 | 2.15 | 2.82 | 11.63 | |||
| ASII | 1.38 | 0.07 | 0.00 | 1.39 | 1.62 | 2.97 | 7.82 | |||
| TPIA | 3.02 | 0.90 | 0.15 | (1.62) | 4.54 | 8.31 | 24.92 | |||
| BBNI | 1.39 | (0.12) | 0.00 | (0.18) | 0.00 | 2.55 | 11.48 | |||
| UNVR | 1.91 | (0.10) | 0.00 | 0.17 | 0.00 | 3.52 | 12.96 | |||
| AMRT | 1.13 | 0.06 | 0.00 | 0.89 | 1.47 | 2.86 | 9.70 | |||
| HMSP | 0.99 | (0.04) | 0.00 | (5.71) | 0.00 | 1.94 | 7.96 |
PT Anugerah 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 Anugerah stock to make a market-neutral strategy. Peer analysis of PT Anugerah could also be used in its relative valuation, which is a method of valuing PT Anugerah by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Already Invested in PT Anugerah Spareparts?
The danger of trading PT Anugerah Spareparts is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of PT Anugerah is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than PT Anugerah. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile PT Anugerah Spareparts is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out Trending Equities to better understand how to build diversified portfolios. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors. You can also try the Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
Complementary Tools for AEGS Stock analysis
When running PT Anugerah's price analysis, check to measure PT Anugerah's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy PT Anugerah is operating at the current time. Most of PT Anugerah's value examination focuses on studying past and present price action to predict the probability of PT Anugerah's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move PT Anugerah's price. Additionally, you may evaluate how the addition of PT Anugerah to your portfolios can decrease your overall portfolio volatility.
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
| Insider Screener Find insiders across different sectors to evaluate their impact on performance | |
| Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon | |
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine |