Correlation Between IDX 30 and MNC Vision
Specify exactly 2 symbols:
By analyzing existing cross correlation between IDX 30 Jakarta and MNC Vision Networks, you can compare the effects of market volatilities on IDX 30 and MNC Vision 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 MNC Vision. Check out your portfolio center. Please also check ongoing floating volatility patterns of IDX 30 and MNC Vision.
Diversification Opportunities for IDX 30 and MNC Vision
0.47 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between IDX and MNC is 0.47. Overlapping area represents the amount of risk that can be diversified away by holding IDX 30 Jakarta and MNC Vision Networks in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MNC Vision Networks 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 MNC Vision. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MNC Vision Networks has no effect on the direction of IDX 30 i.e., IDX 30 and MNC Vision go up and down completely randomly.
Pair Corralation between IDX 30 and MNC Vision
Assuming the 90 days trading horizon IDX 30 Jakarta is expected to generate 0.25 times more return on investment than MNC Vision. However, IDX 30 Jakarta is 3.95 times less risky than MNC Vision. It trades about -0.03 of its potential returns per unit of risk. MNC Vision Networks is currently generating about -0.04 per unit of risk. If you would invest 51,208 in IDX 30 Jakarta on August 24, 2024 and sell it today you would lose (6,341) from holding IDX 30 Jakarta or give up 12.38% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
IDX 30 Jakarta vs. MNC Vision Networks
Performance |
| Timeline |
IDX 30 and MNC Vision Volatility Contrast
Predicted Return Density |
| Returns |
IDX 30 Jakarta
Pair trading matchups for IDX 30
MNC Vision Networks
Pair trading matchups for MNC Vision
Pair Trading with IDX 30 and MNC Vision
The main advantage of trading using opposite IDX 30 and MNC Vision positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IDX 30 position performs unexpectedly, MNC Vision 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 MNC Vision will offset losses from the drop in MNC Vision's long position.| IDX 30 vs. Surya Citra Media | IDX 30 vs. Envy Technologies Indonesia | IDX 30 vs. Gunawan Dianjaya Steel | IDX 30 vs. Nanotech Indonesia Global |
| MNC Vision vs. Mnc Land Tbk | MNC Vision vs. MNC Studios International | MNC Vision vs. Puradelta Lestari PT | MNC Vision vs. Link Net 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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
Other Complementary Tools
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges | |
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios | |
| Portfolio Optimization Compute new portfolio that will generate highest expected return given your specified tolerance for risk |