Correlation Between PT MNC and PT Hasnur
Can any of the company-specific risk be diversified away by investing in both PT MNC and PT Hasnur 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 PT MNC and PT Hasnur into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between PT MNC Energy and PT Hasnur Internasional, you can compare the effects of market volatilities on PT MNC and PT Hasnur 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 MNC with a short position of PT Hasnur. Check out your portfolio center. Please also check ongoing floating volatility patterns of PT MNC and PT Hasnur.
Diversification Opportunities for PT MNC and PT Hasnur
Excellent diversification
The 3 months correlation between IATA and HAIS is -0.53. Overlapping area represents the amount of risk that can be diversified away by holding PT MNC Energy and PT Hasnur Internasional in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PT Hasnur Internasional and PT MNC 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 MNC Energy are associated (or correlated) with PT Hasnur. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PT Hasnur Internasional has no effect on the direction of PT MNC i.e., PT MNC and PT Hasnur go up and down completely randomly.
Pair Corralation between PT MNC and PT Hasnur
Assuming the 90 days trading horizon PT MNC Energy is expected to generate 1.94 times more return on investment than PT Hasnur. However, PT MNC is 1.94 times more volatile than PT Hasnur Internasional. It trades about 0.23 of its potential returns per unit of risk. PT Hasnur Internasional is currently generating about -0.25 per unit of risk. If you would invest 3,800 in PT MNC Energy on September 1, 2024 and sell it today you would earn a total of 600.00 from holding PT MNC Energy or generate 15.79% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
PT MNC Energy vs. PT Hasnur Internasional
Performance |
| Timeline |
| PT MNC Energy |
| PT Hasnur Internasional |
PT MNC and PT Hasnur Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with PT MNC and PT Hasnur
The main advantage of trading using opposite PT MNC and PT Hasnur positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if PT MNC position performs unexpectedly, PT Hasnur 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 PT Hasnur will offset losses from the drop in PT Hasnur's long position.| PT MNC vs. Mnc Investama Tbk | PT MNC vs. Exploitasi Energi Indonesia | PT MNC vs. Smartfren Telecom Tbk | PT MNC vs. Humpuss Intermoda Transportasi |
| PT Hasnur vs. PAM Mineral Tbk | PT Hasnur vs. Pelayaran Nelly Dwi | PT Hasnur vs. Bintang Samudera Mandiri | PT Hasnur vs. Trans Power Marine |
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 Stocks Directory module to find actively traded stocks across global markets.
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