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
Weak diversification
The 3 months correlation between ELIT and IDX is 0.37. 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 generate 2.63 times more return on investment than IDX 30. However, PT Data is 2.63 times more volatile than IDX 30 Jakarta. It trades about 0.19 of its potential returns per unit of risk. IDX 30 Jakarta is currently generating about 0.14 per unit of risk. If you would invest 11,500 in PT Data Sinergitama on October 26, 2024 and sell it today you would earn a total of 1,100 from holding PT Data Sinergitama or generate 9.57% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| 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. Victoria Insurance Tbk | PT Data vs. Lippo General Insurance | PT Data vs. PT UBC Medical | PT Data vs. Dharma Polimetal Tbk |
| IDX 30 vs. Metrodata Electronics Tbk | IDX 30 vs. Siloam International Hospitals | IDX 30 vs. PT Data Sinergitama | IDX 30 vs. Lotte Chemical Titan |
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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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