Correlation Between IDX 30 and Hotel Fitra
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By analyzing existing cross correlation between IDX 30 Jakarta and Hotel Fitra International, you can compare the effects of market volatilities on IDX 30 and Hotel Fitra 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 Hotel Fitra. Check out your portfolio center. Please also check ongoing floating volatility patterns of IDX 30 and Hotel Fitra.
Diversification Opportunities for IDX 30 and Hotel Fitra
0.72 | Correlation Coefficient |
Poor diversification
The 3 months correlation between IDX and Hotel is 0.72. Overlapping area represents the amount of risk that can be diversified away by holding IDX 30 Jakarta and Hotel Fitra International in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hotel Fitra International 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 Hotel Fitra. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hotel Fitra International has no effect on the direction of IDX 30 i.e., IDX 30 and Hotel Fitra go up and down completely randomly.
Pair Corralation between IDX 30 and Hotel Fitra
Assuming the 90 days trading horizon IDX 30 Jakarta is expected to generate 0.26 times more return on investment than Hotel Fitra. However, IDX 30 Jakarta is 3.9 times less risky than Hotel Fitra. It trades about 0.0 of its potential returns per unit of risk. Hotel Fitra International is currently generating about -0.23 per unit of risk. If you would invest 44,261 in IDX 30 Jakarta on August 31, 2024 and sell it today you would lose (388.00) from holding IDX 30 Jakarta or give up 0.88% 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. Hotel Fitra International
Performance |
| Timeline |
IDX 30 and Hotel Fitra Volatility Contrast
Predicted Return Density |
| Returns |
IDX 30 Jakarta
Pair trading matchups for IDX 30
Hotel Fitra International
Pair trading matchups for Hotel Fitra
Pair Trading with IDX 30 and Hotel Fitra
The main advantage of trading using opposite IDX 30 and Hotel Fitra positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IDX 30 position performs unexpectedly, Hotel Fitra 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 Hotel Fitra will offset losses from the drop in Hotel Fitra'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 |
| Hotel Fitra vs. Eastparc Hotel Tbk | Hotel Fitra vs. Menteng Heritage Realty | Hotel Fitra vs. Sanurhasta Mitra PT | Hotel Fitra vs. Sentra Food 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 Bonds Directory module to find actively traded corporate debentures issued by US companies.
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