Correlation Between IDX 30 and Asuransi Jasa
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By analyzing existing cross correlation between IDX 30 Jakarta and Asuransi Jasa Tania, you can compare the effects of market volatilities on IDX 30 and Asuransi Jasa 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 Asuransi Jasa. Check out your portfolio center. Please also check ongoing floating volatility patterns of IDX 30 and Asuransi Jasa.
Diversification Opportunities for IDX 30 and Asuransi Jasa
0.12 | Correlation Coefficient |
Average diversification
The 3 months correlation between IDX and Asuransi is 0.12. Overlapping area represents the amount of risk that can be diversified away by holding IDX 30 Jakarta and Asuransi Jasa Tania in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Asuransi Jasa Tania 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 Asuransi Jasa. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Asuransi Jasa Tania has no effect on the direction of IDX 30 i.e., IDX 30 and Asuransi Jasa go up and down completely randomly.
Pair Corralation between IDX 30 and Asuransi Jasa
Assuming the 90 days trading horizon IDX 30 Jakarta is expected to under-perform the Asuransi Jasa. But the index apears to be less risky and, when comparing its historical volatility, IDX 30 Jakarta is 2.04 times less risky than Asuransi Jasa. The index trades about -0.16 of its potential returns per unit of risk. The Asuransi Jasa Tania is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 11,400 in Asuransi Jasa Tania on August 29, 2024 and sell it today you would earn a total of 200.00 from holding Asuransi Jasa Tania or generate 1.75% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
IDX 30 Jakarta vs. Asuransi Jasa Tania
Performance |
| Timeline |
IDX 30 and Asuransi Jasa Volatility Contrast
Predicted Return Density |
| Returns |
IDX 30 Jakarta
Pair trading matchups for IDX 30
Asuransi Jasa Tania
Pair trading matchups for Asuransi Jasa
Pair Trading with IDX 30 and Asuransi Jasa
The main advantage of trading using opposite IDX 30 and Asuransi Jasa positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IDX 30 position performs unexpectedly, Asuransi Jasa 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 Asuransi Jasa will offset losses from the drop in Asuransi Jasa's long position.| IDX 30 vs. Trinitan Metals and | IDX 30 vs. Lotte Chemical Titan | IDX 30 vs. Metro Healthcare Indonesia | IDX 30 vs. HK Metals Utama |
| Asuransi Jasa vs. Asuransi Bintang Tbk | Asuransi Jasa vs. Asuransi Ramayana Tbk | Asuransi Jasa vs. Asuransi Harta Aman | Asuransi Jasa vs. Asuransi Dayin Mitra |
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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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