Correlation Between Energi Mega and Pollux Properti
Can any of the company-specific risk be diversified away by investing in both Energi Mega and Pollux Properti 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 Energi Mega and Pollux Properti into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Energi Mega Persada and Pollux Properti Indonesia, you can compare the effects of market volatilities on Energi Mega and Pollux Properti 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 Energi Mega with a short position of Pollux Properti. Check out your portfolio center. Please also check ongoing floating volatility patterns of Energi Mega and Pollux Properti.
Diversification Opportunities for Energi Mega and Pollux Properti
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Energi and Pollux is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Energi Mega Persada and Pollux Properti Indonesia in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Pollux Properti Indonesia and Energi Mega 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 Energi Mega Persada are associated (or correlated) with Pollux Properti. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Pollux Properti Indonesia has no effect on the direction of Energi Mega i.e., Energi Mega and Pollux Properti go up and down completely randomly.
Pair Corralation between Energi Mega and Pollux Properti
If you would invest 11,200 in Pollux Properti Indonesia on November 28, 2024 and sell it today you would earn a total of 0.00 from holding Pollux Properti Indonesia 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 |
Energi Mega Persada vs. Pollux Properti Indonesia
Performance |
| Timeline |
| Energi Mega Persada |
| Pollux Properti Indonesia |
Energi Mega and Pollux Properti Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Energi Mega and Pollux Properti
The main advantage of trading using opposite Energi Mega and Pollux Properti positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Energi Mega position performs unexpectedly, Pollux Properti 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 Pollux Properti will offset losses from the drop in Pollux Properti's long position.| Energi Mega vs. Bakrieland Development Tbk | Energi Mega vs. Bakrie Sumatera Plantations | Energi Mega vs. Bakrie Brothers Tbk | Energi Mega vs. Bumi Resources Tbk |
| Pollux Properti vs. Transcoal Pacific Tbk | Pollux Properti vs. Medikaloka Hermina PT | Pollux Properti vs. Maha Properti Indonesia | Pollux Properti vs. Jaya Sukses Makmur |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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