Correlation Between DICKER DATA and PT Global
Can any of the company-specific risk be diversified away by investing in both DICKER DATA and PT Global 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 DICKER DATA and PT Global into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between DICKER DATA LTD and PT Global Mediacom, you can compare the effects of market volatilities on DICKER DATA and PT Global 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 DICKER DATA with a short position of PT Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of DICKER DATA and PT Global.
Diversification Opportunities for DICKER DATA and PT Global
0.35 | Correlation Coefficient |
Weak diversification
The 3 months correlation between DICKER and 06L is 0.35. Overlapping area represents the amount of risk that can be diversified away by holding DICKER DATA LTD and PT Global Mediacom in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PT Global Mediacom and DICKER DATA 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 DICKER DATA LTD are associated (or correlated) with PT Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PT Global Mediacom has no effect on the direction of DICKER DATA i.e., DICKER DATA and PT Global go up and down completely randomly.
Pair Corralation between DICKER DATA and PT Global
If you would invest 0.75 in PT Global Mediacom on September 12, 2024 and sell it today you would earn a total of 0.00 from holding PT Global Mediacom or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
DICKER DATA LTD vs. PT Global Mediacom
Performance |
| Timeline |
| DICKER DATA LTD |
| PT Global Mediacom |
DICKER DATA and PT Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with DICKER DATA and PT Global
The main advantage of trading using opposite DICKER DATA and PT Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if DICKER DATA position performs unexpectedly, PT Global 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 Global will offset losses from the drop in PT Global's long position.| DICKER DATA vs. HK Electric Investments | DICKER DATA vs. Perma Fix Environmental Services | DICKER DATA vs. Virtus Investment Partners | DICKER DATA vs. COSMOSTEEL HLDGS |
| PT Global vs. The Walt Disney | PT Global vs. Charter Communications | PT Global vs. Warner Music Group | PT Global vs. Superior Plus Corp |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
Other Complementary Tools
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Watchlist Optimization Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm | |
| Positions Ratings Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios |