Correlation Between IDX 30 and PT Kusuma
Specify exactly 2 symbols:
By analyzing existing cross correlation between IDX 30 Jakarta and PT Kusuma Kemindo, you can compare the effects of market volatilities on IDX 30 and PT Kusuma 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 Kusuma. Check out your portfolio center. Please also check ongoing floating volatility patterns of IDX 30 and PT Kusuma.
Diversification Opportunities for IDX 30 and PT Kusuma
Very weak diversification
The 3 months correlation between IDX and KKES is 0.46. Overlapping area represents the amount of risk that can be diversified away by holding IDX 30 Jakarta and PT Kusuma Kemindo in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PT Kusuma Kemindo 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 Kusuma. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PT Kusuma Kemindo has no effect on the direction of IDX 30 i.e., IDX 30 and PT Kusuma go up and down completely randomly.
Pair Corralation between IDX 30 and PT Kusuma
Assuming the 90 days trading horizon IDX 30 Jakarta is expected to generate 0.61 times more return on investment than PT Kusuma. However, IDX 30 Jakarta is 1.64 times less risky than PT Kusuma. It trades about -0.24 of its potential returns per unit of risk. PT Kusuma Kemindo is currently generating about -0.53 per unit of risk. If you would invest 47,855 in IDX 30 Jakarta on August 30, 2024 and sell it today you would lose (2,664) from holding IDX 30 Jakarta or give up 5.57% 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. PT Kusuma Kemindo
Performance |
| Timeline |
IDX 30 and PT Kusuma Volatility Contrast
Predicted Return Density |
| Returns |
IDX 30 Jakarta
Pair trading matchups for IDX 30
PT Kusuma Kemindo
Pair trading matchups for PT Kusuma
Pair Trading with IDX 30 and PT Kusuma
The main advantage of trading using opposite IDX 30 and PT Kusuma positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IDX 30 position performs unexpectedly, PT Kusuma 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 Kusuma will offset losses from the drop in PT Kusuma's long position.| IDX 30 vs. Weha Transportasi Indonesia | IDX 30 vs. PT Boston Furniture | IDX 30 vs. Yelooo Integra Datanet | IDX 30 vs. Surya Citra Media |
| PT Kusuma vs. PT Dewi Shri | PT Kusuma vs. PT Cilacap Samudera | PT Kusuma vs. PT Arkora Hydro | PT Kusuma vs. Habco Trans Maritima |
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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
Other Complementary Tools
| Correlation Analysis Reduce portfolio risk simply by holding instruments which are not perfectly correlated | |
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
| Stocks Directory Find actively traded stocks across global markets | |
| Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios |