Correlation Between IDX 30 and Bank Pembangunan
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By analyzing existing cross correlation between IDX 30 Jakarta and Bank Pembangunan Daerah, you can compare the effects of market volatilities on IDX 30 and Bank Pembangunan 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 Bank Pembangunan. Check out your portfolio center. Please also check ongoing floating volatility patterns of IDX 30 and Bank Pembangunan.
Diversification Opportunities for IDX 30 and Bank Pembangunan
-0.52 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between IDX and Bank is -0.52. Overlapping area represents the amount of risk that can be diversified away by holding IDX 30 Jakarta and Bank Pembangunan Daerah in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bank Pembangunan Daerah 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 Bank Pembangunan. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bank Pembangunan Daerah has no effect on the direction of IDX 30 i.e., IDX 30 and Bank Pembangunan go up and down completely randomly.
Pair Corralation between IDX 30 and Bank Pembangunan
Assuming the 90 days trading horizon IDX 30 is expected to generate 28.92 times less return on investment than Bank Pembangunan. But when comparing it to its historical volatility, IDX 30 Jakarta is 4.95 times less risky than Bank Pembangunan. It trades about 0.01 of its potential returns per unit of risk. Bank Pembangunan Daerah is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest 2,300 in Bank Pembangunan Daerah on August 30, 2024 and sell it today you would earn a total of 1,000.00 from holding Bank Pembangunan Daerah or generate 43.48% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
IDX 30 Jakarta vs. Bank Pembangunan Daerah
Performance |
| Timeline |
IDX 30 and Bank Pembangunan Volatility Contrast
Predicted Return Density |
| Returns |
IDX 30 Jakarta
Pair trading matchups for IDX 30
Bank Pembangunan Daerah
Pair trading matchups for Bank Pembangunan
Pair Trading with IDX 30 and Bank Pembangunan
The main advantage of trading using opposite IDX 30 and Bank Pembangunan positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IDX 30 position performs unexpectedly, Bank Pembangunan 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 Bank Pembangunan will offset losses from the drop in Bank Pembangunan's long position.| IDX 30 vs. Weha Transportasi Indonesia | IDX 30 vs. PT Boston Furniture | IDX 30 vs. Yelooo Integra Datanet | IDX 30 vs. Surya Citra Media |
| Bank Pembangunan vs. Bank Mnc Internasional | Bank Pembangunan vs. Bank Qnb Indonesia | Bank Pembangunan vs. Bank Victoria International | Bank Pembangunan vs. Bank Rakyat Indonesia |
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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
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