Correlation Between Asuransi Harta and Map Boga
Can any of the company-specific risk be diversified away by investing in both Asuransi Harta and Map Boga at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Asuransi Harta and Map Boga into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Asuransi Harta Aman and Map Boga Adiperkasa, you can compare the effects of market volatilities on Asuransi Harta and Map Boga and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Asuransi Harta with a short position of Map Boga. Check out your portfolio center. Please also check ongoing floating volatility patterns of Asuransi Harta and Map Boga.
Diversification Opportunities for Asuransi Harta and Map Boga
0.9 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Asuransi and Map is 0.9. Overlapping area represents the amount of risk that can be diversified away by holding Asuransi Harta Aman and Map Boga Adiperkasa in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Map Boga Adiperkasa and Asuransi Harta is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Asuransi Harta Aman are associated (or correlated) with Map Boga. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Map Boga Adiperkasa has no effect on the direction of Asuransi Harta i.e., Asuransi Harta and Map Boga go up and down completely randomly.
Pair Corralation between Asuransi Harta and Map Boga
Assuming the 90 days trading horizon Asuransi Harta Aman is expected to generate 1.38 times more return on investment than Map Boga. However, Asuransi Harta is 1.38 times more volatile than Map Boga Adiperkasa. It trades about 0.01 of its potential returns per unit of risk. Map Boga Adiperkasa is currently generating about -0.08 per unit of risk. If you would invest 9,400 in Asuransi Harta Aman on September 3, 2024 and sell it today you would lose (100.00) from holding Asuransi Harta Aman or give up 1.06% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Asuransi Harta Aman vs. Map Boga Adiperkasa
Performance |
| Timeline |
| Asuransi Harta Aman |
| Map Boga Adiperkasa |
Asuransi Harta and Map Boga Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Asuransi Harta and Map Boga
The main advantage of trading using opposite Asuransi Harta and Map Boga positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Asuransi Harta position performs unexpectedly, Map Boga can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Map Boga will offset losses from the drop in Map Boga's long position.| Asuransi Harta vs. Asuransi Bintang Tbk | Asuransi Harta vs. Asuransi Bina Dana | Asuransi Harta vs. Asuransi Dayin Mitra | Asuransi Harta vs. Asuransi Jasa Tania |
| Map Boga vs. Mitra Pinasthika Mustika | Map Boga vs. Jakarta Int Hotels | Map Boga vs. Asuransi Harta Aman | Map Boga vs. Indosterling Technomedia Tbk |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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