Correlation Between IDX 30 and Limas Indonesia
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By analyzing existing cross correlation between IDX 30 Jakarta and Limas Indonesia Makmur, you can compare the effects of market volatilities on IDX 30 and Limas Indonesia 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 Limas Indonesia. Check out your portfolio center. Please also check ongoing floating volatility patterns of IDX 30 and Limas Indonesia.
Diversification Opportunities for IDX 30 and Limas Indonesia
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between IDX and Limas is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding IDX 30 Jakarta and Limas Indonesia Makmur in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Limas Indonesia Makmur 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 Limas Indonesia. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Limas Indonesia Makmur has no effect on the direction of IDX 30 i.e., IDX 30 and Limas Indonesia go up and down completely randomly.
Pair Corralation between IDX 30 and Limas Indonesia
If you would invest 5,000 in Limas Indonesia Makmur on November 28, 2024 and sell it today you would earn a total of 0.00 from holding Limas Indonesia Makmur 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. Limas Indonesia Makmur
Performance |
| Timeline |
IDX 30 and Limas Indonesia Volatility Contrast
Predicted Return Density |
| Returns |
IDX 30 Jakarta
Pair trading matchups for IDX 30
Limas Indonesia Makmur
Pair trading matchups for Limas Indonesia
Pair Trading with IDX 30 and Limas Indonesia
The main advantage of trading using opposite IDX 30 and Limas Indonesia positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IDX 30 position performs unexpectedly, Limas Indonesia 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 Limas Indonesia will offset losses from the drop in Limas Indonesia's long position.| IDX 30 vs. Ciptadana Asset Management | IDX 30 vs. Victoria Insurance Tbk | IDX 30 vs. Tridomain Performance Materials | IDX 30 vs. Weha Transportasi Indonesia |
| Limas Indonesia vs. Humpuss Intermoda Transportasi | Limas Indonesia vs. HK Metals Utama | Limas Indonesia vs. Smartfren Telecom Tbk | Limas Indonesia vs. Dunia Virtual Online |
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 Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
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