Correlation Between IDX 30 and Central Proteina
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By analyzing existing cross correlation between IDX 30 Jakarta and Central Proteina Prima, you can compare the effects of market volatilities on IDX 30 and Central Proteina 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 Central Proteina. Check out your portfolio center. Please also check ongoing floating volatility patterns of IDX 30 and Central Proteina.
Diversification Opportunities for IDX 30 and Central Proteina
0.15 | Correlation Coefficient |
Average diversification
The 3 months correlation between IDX and Central is 0.15. Overlapping area represents the amount of risk that can be diversified away by holding IDX 30 Jakarta and Central Proteina Prima in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Central Proteina Prima 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 Central Proteina. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Central Proteina Prima has no effect on the direction of IDX 30 i.e., IDX 30 and Central Proteina go up and down completely randomly.
Pair Corralation between IDX 30 and Central Proteina
If you would invest 5,000 in Central Proteina Prima on September 3, 2024 and sell it today you would earn a total of 0.00 from holding Central Proteina Prima or generate 0.0% 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. Central Proteina Prima
Performance |
| Timeline |
IDX 30 and Central Proteina Volatility Contrast
Predicted Return Density |
| Returns |
IDX 30 Jakarta
Pair trading matchups for IDX 30
Central Proteina Prima
Pair trading matchups for Central Proteina
Pair Trading with IDX 30 and Central Proteina
The main advantage of trading using opposite IDX 30 and Central Proteina positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IDX 30 position performs unexpectedly, Central Proteina 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 Central Proteina will offset losses from the drop in Central Proteina's long position.| IDX 30 vs. Smartfren Telecom Tbk | IDX 30 vs. Hoffmen Cleanindo | IDX 30 vs. Hero Supermarket Tbk | IDX 30 vs. PT Bank Bisnis |
| Central Proteina vs. Bakrie Brothers Tbk | Central Proteina vs. Bakrieland Development Tbk | Central Proteina vs. Darma Henwa Tbk | Central Proteina vs. Bakrie Sumatera Plantations |
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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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