Correlation Between IDX 30 and Bangun Karya
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By analyzing existing cross correlation between IDX 30 Jakarta and Bangun Karya Perkasa, you can compare the effects of market volatilities on IDX 30 and Bangun Karya 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 Bangun Karya. Check out your portfolio center. Please also check ongoing floating volatility patterns of IDX 30 and Bangun Karya.
Diversification Opportunities for IDX 30 and Bangun Karya
0.03 | Correlation Coefficient |
Significant diversification
The 3 months correlation between IDX and Bangun is 0.03. Overlapping area represents the amount of risk that can be diversified away by holding IDX 30 Jakarta and Bangun Karya Perkasa in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bangun Karya Perkasa 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 Bangun Karya. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bangun Karya Perkasa has no effect on the direction of IDX 30 i.e., IDX 30 and Bangun Karya go up and down completely randomly.
Pair Corralation between IDX 30 and Bangun Karya
Assuming the 90 days trading horizon IDX 30 Jakarta is expected to generate 0.26 times more return on investment than Bangun Karya. However, IDX 30 Jakarta is 3.87 times less risky than Bangun Karya. It trades about -0.04 of its potential returns per unit of risk. Bangun Karya Perkasa is currently generating about -0.04 per unit of risk. If you would invest 49,050 in IDX 30 Jakarta on November 19, 2024 and sell it today you would lose (8,974) from holding IDX 30 Jakarta or give up 18.3% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
IDX 30 Jakarta vs. Bangun Karya Perkasa
Performance |
| Timeline |
IDX 30 and Bangun Karya Volatility Contrast
Predicted Return Density |
| Returns |
IDX 30 Jakarta
Pair trading matchups for IDX 30
Bangun Karya Perkasa
Pair trading matchups for Bangun Karya
Pair Trading with IDX 30 and Bangun Karya
The main advantage of trading using opposite IDX 30 and Bangun Karya positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IDX 30 position performs unexpectedly, Bangun Karya 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 Bangun Karya will offset losses from the drop in Bangun Karya's long position.| IDX 30 vs. Lotte Chemical Titan | IDX 30 vs. Garuda Metalindo Tbk | IDX 30 vs. Krakatau Steel Persero | IDX 30 vs. Hero Supermarket Tbk |
| Bangun Karya vs. PT Hetzer Medical | Bangun Karya vs. PT Dewi Shri | Bangun Karya vs. PT Sari Kreasi | Bangun Karya vs. Gaya Abadi Sempurna |
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 AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.
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