Correlation Between IDX 30 and PT Jhonlin
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By analyzing existing cross correlation between IDX 30 Jakarta and PT Jhonlin Agro, you can compare the effects of market volatilities on IDX 30 and PT Jhonlin 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 PT Jhonlin. Check out your portfolio center. Please also check ongoing floating volatility patterns of IDX 30 and PT Jhonlin.
Diversification Opportunities for IDX 30 and PT Jhonlin
-0.08 | Correlation Coefficient |
Good diversification
The 3 months correlation between IDX and JARR is -0.08. Overlapping area represents the amount of risk that can be diversified away by holding IDX 30 Jakarta and PT Jhonlin Agro in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PT Jhonlin Agro 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 PT Jhonlin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PT Jhonlin Agro has no effect on the direction of IDX 30 i.e., IDX 30 and PT Jhonlin go up and down completely randomly.
Pair Corralation between IDX 30 and PT Jhonlin
Assuming the 90 days trading horizon IDX 30 Jakarta is expected to generate 0.15 times more return on investment than PT Jhonlin. However, IDX 30 Jakarta is 6.69 times less risky than PT Jhonlin. It trades about -0.6 of its potential returns per unit of risk. PT Jhonlin Agro is currently generating about -0.24 per unit of risk. If you would invest 49,269 in IDX 30 Jakarta on August 24, 2024 and sell it today you would lose (5,011) from holding IDX 30 Jakarta or give up 10.17% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
IDX 30 Jakarta vs. PT Jhonlin Agro
Performance |
| Timeline |
IDX 30 and PT Jhonlin Volatility Contrast
Predicted Return Density |
| Returns |
IDX 30 Jakarta
Pair trading matchups for IDX 30
PT Jhonlin Agro
Pair trading matchups for PT Jhonlin
Pair Trading with IDX 30 and PT Jhonlin
The main advantage of trading using opposite IDX 30 and PT Jhonlin positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IDX 30 position performs unexpectedly, PT Jhonlin 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 PT Jhonlin will offset losses from the drop in PT Jhonlin'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 |
| PT Jhonlin vs. Dharma Satya Nusantara | PT Jhonlin vs. Saratoga Investama Sedaya | PT Jhonlin vs. Surya Esa Perkasa | PT Jhonlin vs. Elang Mahkota Teknologi |
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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