Correlation Between Fimperkasa Utama and Imago Mulia
Can any of the company-specific risk be diversified away by investing in both Fimperkasa Utama and Imago Mulia 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 Fimperkasa Utama and Imago Mulia into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Fimperkasa Utama Tbk and Imago Mulia Persada, you can compare the effects of market volatilities on Fimperkasa Utama and Imago Mulia 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 Fimperkasa Utama with a short position of Imago Mulia. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fimperkasa Utama and Imago Mulia.
Diversification Opportunities for Fimperkasa Utama and Imago Mulia
-0.54 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Fimperkasa and Imago is -0.54. Overlapping area represents the amount of risk that can be diversified away by holding Fimperkasa Utama Tbk and Imago Mulia Persada in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Imago Mulia Persada and Fimperkasa Utama 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 Fimperkasa Utama Tbk are associated (or correlated) with Imago Mulia. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Imago Mulia Persada has no effect on the direction of Fimperkasa Utama i.e., Fimperkasa Utama and Imago Mulia go up and down completely randomly.
Pair Corralation between Fimperkasa Utama and Imago Mulia
If you would invest 8,700 in Imago Mulia Persada on August 30, 2024 and sell it today you would earn a total of 0.00 from holding Imago Mulia Persada or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Fimperkasa Utama Tbk vs. Imago Mulia Persada
Performance |
| Timeline |
| Fimperkasa Utama Tbk |
| Imago Mulia Persada |
Fimperkasa Utama and Imago Mulia Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fimperkasa Utama and Imago Mulia
The main advantage of trading using opposite Fimperkasa Utama and Imago Mulia positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fimperkasa Utama position performs unexpectedly, Imago Mulia 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 Imago Mulia will offset losses from the drop in Imago Mulia's long position.| Fimperkasa Utama vs. Imago Mulia Persada | Fimperkasa Utama vs. Indonesia Pondasi Raya | Fimperkasa Utama vs. Ulima Nitra PT | Fimperkasa Utama vs. Indointernet Tbk PT |
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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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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