Correlation Between Hotel Fitra and Surya Permata
Can any of the company-specific risk be diversified away by investing in both Hotel Fitra and Surya Permata 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 Hotel Fitra and Surya Permata into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Hotel Fitra International and Surya Permata Andalan, you can compare the effects of market volatilities on Hotel Fitra and Surya Permata 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 Hotel Fitra with a short position of Surya Permata. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hotel Fitra and Surya Permata.
Diversification Opportunities for Hotel Fitra and Surya Permata
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Hotel and Surya is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Hotel Fitra International and Surya Permata Andalan in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Surya Permata Andalan and Hotel Fitra 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 Hotel Fitra International are associated (or correlated) with Surya Permata. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Surya Permata Andalan has no effect on the direction of Hotel Fitra i.e., Hotel Fitra and Surya Permata go up and down completely randomly.
Pair Corralation between Hotel Fitra and Surya Permata
If you would invest (100.00) in Hotel Fitra International on August 29, 2024 and sell it today you would earn a total of 100.00 from holding Hotel Fitra International or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Hotel Fitra International vs. Surya Permata Andalan
Performance |
| Timeline |
| Hotel Fitra International |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Surya Permata Andalan |
Hotel Fitra and Surya Permata Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hotel Fitra and Surya Permata
The main advantage of trading using opposite Hotel Fitra and Surya Permata positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hotel Fitra position performs unexpectedly, Surya Permata 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 Surya Permata will offset losses from the drop in Surya Permata's long position.| Hotel Fitra vs. Eastparc Hotel Tbk | Hotel Fitra vs. Sanurhasta Mitra PT | Hotel Fitra vs. Sentra Food Indonesia | Hotel Fitra vs. Yelooo Integra Datanet |
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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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