Correlation Between PT Data and IDX 30
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By analyzing existing cross correlation between PT Data Sinergitama and IDX 30 Jakarta, you can compare the effects of market volatilities on PT Data and IDX 30 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 PT Data with a short position of IDX 30. Check out your portfolio center. Please also check ongoing floating volatility patterns of PT Data and IDX 30.
Diversification Opportunities for PT Data and IDX 30
Very good diversification
The 3 months correlation between ELIT and IDX is -0.43. Overlapping area represents the amount of risk that can be diversified away by holding PT Data Sinergitama and IDX 30 Jakarta in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on IDX 30 Jakarta and PT 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 PT Data Sinergitama are associated (or correlated) with IDX 30. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of IDX 30 Jakarta has no effect on the direction of PT Data i.e., PT Data and IDX 30 go up and down completely randomly.
Pair Corralation between PT Data and IDX 30
Assuming the 90 days trading horizon PT Data Sinergitama is expected to under-perform the IDX 30. In addition to that, PT Data is 4.11 times more volatile than IDX 30 Jakarta. It trades about -0.01 of its total potential returns per unit of risk. IDX 30 Jakarta is currently generating about -0.03 per unit of volatility. If you would invest 49,699 in IDX 30 Jakarta on August 31, 2024 and sell it today you would lose (5,826) from holding IDX 30 Jakarta or give up 11.72% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
PT Data Sinergitama vs. IDX 30 Jakarta
Performance |
| Timeline |
PT Data and IDX 30 Volatility Contrast
Predicted Return Density |
| Returns |
PT Data Sinergitama
Pair trading matchups for PT Data
IDX 30 Jakarta
Pair trading matchups for IDX 30
Pair Trading with PT Data and IDX 30
The main advantage of trading using opposite PT Data and IDX 30 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if PT Data position performs unexpectedly, IDX 30 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 IDX 30 will offset losses from the drop in IDX 30's long position.| PT Data vs. Multipolar Technology Tbk | PT Data vs. Digital Mediatama Maxima | PT Data vs. NFC Indonesia PT | PT Data vs. Kioson Komersial Indonesia |
| IDX 30 vs. Victoria Insurance Tbk | IDX 30 vs. Indo Acidatama Tbk | IDX 30 vs. PT Data Sinergitama | IDX 30 vs. Garudafood Putra Putri |
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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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