Correlation Between IDX 30 and Akr Corporindo
Specify exactly 2 symbols:
By analyzing existing cross correlation between IDX 30 Jakarta and Akr Corporindo Tbk, you can compare the effects of market volatilities on IDX 30 and Akr Corporindo 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 IDX 30 with a short position of Akr Corporindo. Check out your portfolio center. Please also check ongoing floating volatility patterns of IDX 30 and Akr Corporindo.
Diversification Opportunities for IDX 30 and Akr Corporindo
0.73 | Correlation Coefficient |
Poor diversification
The 3 months correlation between IDX and Akr is 0.73. Overlapping area represents the amount of risk that can be diversified away by holding IDX 30 Jakarta and Akr Corporindo Tbk in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Akr Corporindo Tbk and IDX 30 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 IDX 30 Jakarta are associated (or correlated) with Akr Corporindo. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Akr Corporindo Tbk has no effect on the direction of IDX 30 i.e., IDX 30 and Akr Corporindo go up and down completely randomly.
Pair Corralation between IDX 30 and Akr Corporindo
Assuming the 90 days trading horizon IDX 30 Jakarta is expected to generate 0.43 times more return on investment than Akr Corporindo. However, IDX 30 Jakarta is 2.35 times less risky than Akr Corporindo. It trades about -0.26 of its potential returns per unit of risk. Akr Corporindo Tbk is currently generating about -0.23 per unit of risk. If you would invest 47,624 in IDX 30 Jakarta on August 31, 2024 and sell it today you would lose (2,849) from holding IDX 30 Jakarta or give up 5.98% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
IDX 30 Jakarta vs. Akr Corporindo Tbk
Performance |
| Timeline |
IDX 30 and Akr Corporindo Volatility Contrast
Predicted Return Density |
| Returns |
IDX 30 Jakarta
Pair trading matchups for IDX 30
Akr Corporindo Tbk
Pair trading matchups for Akr Corporindo
Pair Trading with IDX 30 and Akr Corporindo
The main advantage of trading using opposite IDX 30 and Akr Corporindo positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IDX 30 position performs unexpectedly, Akr Corporindo 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 Akr Corporindo will offset losses from the drop in Akr Corporindo's long position.| IDX 30 vs. Victoria Insurance Tbk | IDX 30 vs. Indo Acidatama Tbk | IDX 30 vs. PT Data Sinergitama | IDX 30 vs. Garudafood Putra Putri |
| Akr Corporindo vs. Charoen Pokphand Indonesia | Akr Corporindo vs. Indocement Tunggal Prakarsa | Akr Corporindo vs. Bumi Serpong Damai | Akr Corporindo vs. Jasa Marga Tbk |
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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
Other Complementary Tools
| Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities | |
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings | |
| CEOs Directory Screen CEOs from public companies around the world | |
| Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. | |
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities |