Correlation Between Dewata Freight and Satria Antaran
Can any of the company-specific risk be diversified away by investing in both Dewata Freight and Satria Antaran 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 Dewata Freight and Satria Antaran into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Dewata Freight International and Satria Antaran Prima, you can compare the effects of market volatilities on Dewata Freight and Satria Antaran 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 Dewata Freight with a short position of Satria Antaran. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dewata Freight and Satria Antaran.
Diversification Opportunities for Dewata Freight and Satria Antaran
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Dewata and Satria is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Dewata Freight International and Satria Antaran Prima in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Satria Antaran Prima and Dewata Freight 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 Dewata Freight International are associated (or correlated) with Satria Antaran. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Satria Antaran Prima has no effect on the direction of Dewata Freight i.e., Dewata Freight and Satria Antaran go up and down completely randomly.
Pair Corralation between Dewata Freight and Satria Antaran
If you would invest 600.00 in Dewata Freight International on August 31, 2024 and sell it today you would earn a total of 0.00 from holding Dewata Freight International 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 |
Dewata Freight International vs. Satria Antaran Prima
Performance |
| Timeline |
| Dewata Freight Inter |
| Satria Antaran Prima |
Dewata Freight and Satria Antaran Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dewata Freight and Satria Antaran
The main advantage of trading using opposite Dewata Freight and Satria Antaran positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dewata Freight position performs unexpectedly, Satria Antaran 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 Satria Antaran will offset losses from the drop in Satria Antaran's long position.| Dewata Freight vs. Guna Timur Raya | Dewata Freight vs. Satria Antaran Prima | Dewata Freight vs. Transcoal Pacific Tbk | Dewata Freight vs. Pelayaran Nelly Dwi |
| Satria Antaran vs. PT Trimuda Nuansa | Satria Antaran vs. Guna Timur Raya | Satria Antaran vs. Pelayaran Nelly Dwi | Satria Antaran vs. Krida Jaringan Nusantara |
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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
Other Complementary Tools
| Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| CEOs Directory Screen CEOs from public companies around the world | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
| Performance Analysis Check effects of mean-variance optimization against your current asset allocation |