Correlation Between Bekasi Fajar and Darmi Bersaudara
Can any of the company-specific risk be diversified away by investing in both Bekasi Fajar and Darmi Bersaudara 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 Bekasi Fajar and Darmi Bersaudara into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Bekasi Fajar Industrial and Darmi Bersaudara Tbk, you can compare the effects of market volatilities on Bekasi Fajar and Darmi Bersaudara 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 Bekasi Fajar with a short position of Darmi Bersaudara. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bekasi Fajar and Darmi Bersaudara.
Diversification Opportunities for Bekasi Fajar and Darmi Bersaudara
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Bekasi and Darmi is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Bekasi Fajar Industrial and Darmi Bersaudara Tbk in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Darmi Bersaudara Tbk and Bekasi Fajar 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 Bekasi Fajar Industrial are associated (or correlated) with Darmi Bersaudara. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Darmi Bersaudara Tbk has no effect on the direction of Bekasi Fajar i.e., Bekasi Fajar and Darmi Bersaudara go up and down completely randomly.
Pair Corralation between Bekasi Fajar and Darmi Bersaudara
If you would invest 1,800 in Darmi Bersaudara Tbk on September 12, 2024 and sell it today you would earn a total of 0.00 from holding Darmi Bersaudara Tbk or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Bekasi Fajar Industrial vs. Darmi Bersaudara Tbk
Performance |
| Timeline |
| Bekasi Fajar Industrial |
| Darmi Bersaudara Tbk |
Bekasi Fajar and Darmi Bersaudara Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bekasi Fajar and Darmi Bersaudara
The main advantage of trading using opposite Bekasi Fajar and Darmi Bersaudara positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bekasi Fajar position performs unexpectedly, Darmi Bersaudara 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 Darmi Bersaudara will offset losses from the drop in Darmi Bersaudara's long position.| Bekasi Fajar vs. Agung Podomoro Land | Bekasi Fajar vs. Surya Semesta Internusa | Bekasi Fajar vs. Alam Sutera Realty | Bekasi Fajar vs. Bumi Serpong Damai |
| Darmi Bersaudara vs. Krakatau Steel Persero | Darmi Bersaudara vs. Arkadia Digital Media | Darmi Bersaudara vs. HK Metals Utama | Darmi Bersaudara vs. Equity Development Investment |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
Other Complementary Tools
| Correlation Analysis Reduce portfolio risk simply by holding instruments which are not perfectly correlated | |
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios | |
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| 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 |