Galva Technologies Correlations
| GLVA Stock | IDR 306.00 4.00 1.32% |
The correlation of Galva Technologies 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 Galva Technologies moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Galva Technologies Tbk 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.
Average diversification
The correlation between Galva Technologies Tbk and NYA is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Galva Technologies Tbk and NYA in the same portfolio, assuming nothing else is changed.
Galva |
The ability to find closely correlated positions to Galva Technologies could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Galva Technologies 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 Galva Technologies - 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 Galva Technologies Tbk to buy it.
Moving together with Galva Stock
| 0.79 | BLUE | Berkah Prima Perkasa | PairCorr |
| 0.64 | GOTO | GoTo Gojek Tokopedia | PairCorr |
| 0.85 | SKLT | Sekar Laut Tbk | PairCorr |
| 0.61 | BBYB | Bank Yudha Bhakti | PairCorr |
| 0.83 | TOPS | Totalindo Eka Persada | PairCorr |
| 0.64 | SIPD | PT Sreeya Sewu | PairCorr |
Moving against Galva Stock
| 0.83 | TPIA | Chandra Asri Petroch | PairCorr |
| 0.83 | CMRY | Cisarua Mountain Dairy | PairCorr |
| 0.77 | JECC | Jembo Cable Earnings Call This Week | PairCorr |
| 0.64 | CSMI | Cipta Selera Murni | PairCorr |
| 0.58 | BIKE | Sepeda Bersama Indonesia | PairCorr |
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between Galva Stock performing well and Galva Technologies 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 Galva Technologies' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| MLPT | 1.85 | (0.47) | 0.00 | 1.28 | 0.00 | 3.18 | 11.91 | |||
| DIVA | 3.14 | (0.80) | 0.00 | 0.57 | 0.00 | 2.07 | 43.03 | |||
| HDIT | 4.26 | (2.69) | 0.00 | (2.89) | 0.00 | 0.00 | 26.79 | |||
| ATIC | 1.13 | (0.13) | 0.00 | (0.50) | 0.00 | 2.54 | 6.56 | |||
| DMMX | 3.31 | (1.91) | 0.00 | (0.84) | 0.00 | 8.70 | 23.56 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Galva Technologies 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?
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Already Invested in Galva Technologies Tbk?
The danger of trading Galva Technologies Tbk 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 Galva Technologies 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 Galva Technologies. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Galva Technologies Tbk 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 Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Galva Technologies Tbk. 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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
Complementary Tools for Galva Stock analysis
When running Galva Technologies' price analysis, check to measure Galva Technologies' 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 Galva Technologies is operating at the current time. Most of Galva Technologies' value examination focuses on studying past and present price action to predict the probability of Galva Technologies' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Galva Technologies' price. Additionally, you may evaluate how the addition of Galva Technologies to your portfolios can decrease your overall portfolio volatility.
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