Correlation Between IDX 30 and Sinergi Inti
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By analyzing existing cross correlation between IDX 30 Jakarta and Sinergi Inti Plastindo, you can compare the effects of market volatilities on IDX 30 and Sinergi Inti 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 Sinergi Inti. Check out your portfolio center. Please also check ongoing floating volatility patterns of IDX 30 and Sinergi Inti.
Diversification Opportunities for IDX 30 and Sinergi Inti
0.71 | Correlation Coefficient |
Poor diversification
The 3 months correlation between IDX and Sinergi is 0.71. Overlapping area represents the amount of risk that can be diversified away by holding IDX 30 Jakarta and Sinergi Inti Plastindo in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sinergi Inti Plastindo 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 Sinergi Inti. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sinergi Inti Plastindo has no effect on the direction of IDX 30 i.e., IDX 30 and Sinergi Inti go up and down completely randomly.
Pair Corralation between IDX 30 and Sinergi Inti
Assuming the 90 days trading horizon IDX 30 Jakarta is expected to generate 0.3 times more return on investment than Sinergi Inti. However, IDX 30 Jakarta is 3.39 times less risky than Sinergi Inti. It trades about -0.03 of its potential returns per unit of risk. Sinergi Inti Plastindo is currently generating about -0.06 per unit of risk. If you would invest 49,699 in IDX 30 Jakarta on August 31, 2024 and sell it today you would lose (5,826) from holding IDX 30 Jakarta or give up 11.72% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 99.72% |
| Values | Daily Returns |
IDX 30 Jakarta vs. Sinergi Inti Plastindo
Performance |
| Timeline |
IDX 30 and Sinergi Inti Volatility Contrast
Predicted Return Density |
| Returns |
IDX 30 Jakarta
Pair trading matchups for IDX 30
Sinergi Inti Plastindo
Pair trading matchups for Sinergi Inti
Pair Trading with IDX 30 and Sinergi Inti
The main advantage of trading using opposite IDX 30 and Sinergi Inti positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IDX 30 position performs unexpectedly, Sinergi Inti 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 Sinergi Inti will offset losses from the drop in Sinergi Inti'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 |
| Sinergi Inti vs. Lotte Chemical Titan | Sinergi Inti vs. Agro Yasa Lestari | Sinergi Inti vs. Era Mandiri Cemerlang | Sinergi Inti vs. Jasnita Telekomindo 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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
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