Correlation Between Dunia Virtual and PT Trimegah
Can any of the company-specific risk be diversified away by investing in both Dunia Virtual and PT Trimegah 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 Dunia Virtual and PT Trimegah into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Dunia Virtual Online and PT Trimegah Bangun, you can compare the effects of market volatilities on Dunia Virtual and PT Trimegah 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 Dunia Virtual with a short position of PT Trimegah. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dunia Virtual and PT Trimegah.
Diversification Opportunities for Dunia Virtual and PT Trimegah
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Dunia and NCKL is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Dunia Virtual Online and PT Trimegah Bangun in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PT Trimegah Bangun and Dunia Virtual 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 Dunia Virtual Online are associated (or correlated) with PT Trimegah. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PT Trimegah Bangun has no effect on the direction of Dunia Virtual i.e., Dunia Virtual and PT Trimegah go up and down completely randomly.
Pair Corralation between Dunia Virtual and PT Trimegah
If you would invest (100.00) in PT Trimegah Bangun on September 3, 2024 and sell it today you would earn a total of 100.00 from holding PT Trimegah Bangun or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Dunia Virtual Online vs. PT Trimegah Bangun
Performance |
| Timeline |
| Dunia Virtual Online |
| PT Trimegah Bangun |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Dunia Virtual and PT Trimegah Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dunia Virtual and PT Trimegah
The main advantage of trading using opposite Dunia Virtual and PT Trimegah positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dunia Virtual position performs unexpectedly, PT Trimegah 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 PT Trimegah will offset losses from the drop in PT Trimegah's long position.| Dunia Virtual vs. Chandra Asri Petrochemical | Dunia Virtual vs. Bank Negara Indonesia | Dunia Virtual vs. Sumber Alfaria Trijaya | Dunia Virtual vs. Mitra Pinasthika Mustika |
| PT Trimegah vs. Arkadia Digital Media | PT Trimegah vs. Grand Kartech Tbk | PT Trimegah vs. Victoria Insurance Tbk | PT Trimegah vs. Nanotech Indonesia Global |
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 Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
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