Correlation Between IDX 30 and Grand Kartech
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By analyzing existing cross correlation between IDX 30 Jakarta and Grand Kartech Tbk, you can compare the effects of market volatilities on IDX 30 and Grand Kartech 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 Grand Kartech. Check out your portfolio center. Please also check ongoing floating volatility patterns of IDX 30 and Grand Kartech.
Diversification Opportunities for IDX 30 and Grand Kartech
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between IDX and Grand is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding IDX 30 Jakarta and Grand Kartech Tbk in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Grand Kartech Tbk 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 Grand Kartech. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Grand Kartech Tbk has no effect on the direction of IDX 30 i.e., IDX 30 and Grand Kartech go up and down completely randomly.
Pair Corralation between IDX 30 and Grand Kartech
If you would invest 43,600 in Grand Kartech Tbk on August 30, 2024 and sell it today you would earn a total of 0.00 from holding Grand Kartech Tbk or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
IDX 30 Jakarta vs. Grand Kartech Tbk
Performance |
| Timeline |
IDX 30 and Grand Kartech Volatility Contrast
Predicted Return Density |
| Returns |
IDX 30 Jakarta
Pair trading matchups for IDX 30
Grand Kartech Tbk
Pair trading matchups for Grand Kartech
Pair Trading with IDX 30 and Grand Kartech
The main advantage of trading using opposite IDX 30 and Grand Kartech positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IDX 30 position performs unexpectedly, Grand Kartech 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 Grand Kartech will offset losses from the drop in Grand Kartech'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 |
| Grand Kartech vs. Lippo General Insurance | Grand Kartech vs. HK Metals Utama | Grand Kartech vs. Chandra Asri Petrochemical | Grand Kartech vs. Merdeka Copper Gold |
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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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