Correlation Between Asuransi Harta and Yelooo Integra
Can any of the company-specific risk be diversified away by investing in both Asuransi Harta and Yelooo Integra 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 Yelooo Integra 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 Yelooo Integra Datanet, you can compare the effects of market volatilities on Asuransi Harta and Yelooo Integra 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 Yelooo Integra. Check out your portfolio center. Please also check ongoing floating volatility patterns of Asuransi Harta and Yelooo Integra.
Diversification Opportunities for Asuransi Harta and Yelooo Integra
0.74 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Asuransi and Yelooo is 0.74. Overlapping area represents the amount of risk that can be diversified away by holding Asuransi Harta Aman and Yelooo Integra Datanet in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Yelooo Integra Datanet 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 Yelooo Integra. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yelooo Integra Datanet has no effect on the direction of Asuransi Harta i.e., Asuransi Harta and Yelooo Integra go up and down completely randomly.
Pair Corralation between Asuransi Harta and Yelooo Integra
Assuming the 90 days trading horizon Asuransi Harta Aman is expected to generate 1.42 times more return on investment than Yelooo Integra. However, Asuransi Harta is 1.42 times more volatile than Yelooo Integra Datanet. It trades about 0.05 of its potential returns per unit of risk. Yelooo Integra Datanet is currently generating about -0.08 per unit of risk. If you would invest 5,900 in Asuransi Harta Aman on September 12, 2024 and sell it today you would earn a total of 3,400 from holding Asuransi Harta Aman or generate 57.63% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Asuransi Harta Aman vs. Yelooo Integra Datanet
Performance |
| Timeline |
| Asuransi Harta Aman |
| Yelooo Integra Datanet |
Asuransi Harta and Yelooo Integra Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Asuransi Harta and Yelooo Integra
The main advantage of trading using opposite Asuransi Harta and Yelooo Integra positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Asuransi Harta position performs unexpectedly, Yelooo Integra 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 Yelooo Integra will offset losses from the drop in Yelooo Integra's long position.| Asuransi Harta vs. Paninvest Tbk | Asuransi Harta vs. Maskapai Reasuransi Indonesia | Asuransi Harta vs. Panin Sekuritas Tbk | Asuransi Harta vs. Wahana Ottomitra Multiartha |
| Yelooo Integra vs. Integra Indocabinet Tbk | Yelooo Integra vs. Multistrada Arah Sarana | Yelooo Integra vs. PT MNC Energy | Yelooo Integra vs. J Resources Asia |
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 Transaction History module to view history of all your transactions and understand their impact on performance.
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