Correlation Between IDX 30 and Perusahaan Perkebunan
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By analyzing existing cross correlation between IDX 30 Jakarta and Perusahaan Perkebunan London, you can compare the effects of market volatilities on IDX 30 and Perusahaan Perkebunan 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 Perusahaan Perkebunan. Check out your portfolio center. Please also check ongoing floating volatility patterns of IDX 30 and Perusahaan Perkebunan.
Diversification Opportunities for IDX 30 and Perusahaan Perkebunan
-0.25 | Correlation Coefficient |
Very good diversification
The 3 months correlation between IDX and Perusahaan is -0.25. Overlapping area represents the amount of risk that can be diversified away by holding IDX 30 Jakarta and Perusahaan Perkebunan London in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Perusahaan Perkebunan 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 Perusahaan Perkebunan. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Perusahaan Perkebunan has no effect on the direction of IDX 30 i.e., IDX 30 and Perusahaan Perkebunan go up and down completely randomly.
Pair Corralation between IDX 30 and Perusahaan Perkebunan
Assuming the 90 days trading horizon IDX 30 Jakarta is expected to generate 0.37 times more return on investment than Perusahaan Perkebunan. However, IDX 30 Jakarta is 2.69 times less risky than Perusahaan Perkebunan. It trades about -0.28 of its potential returns per unit of risk. Perusahaan Perkebunan London is currently generating about -0.24 per unit of risk. If you would invest 48,247 in IDX 30 Jakarta on August 28, 2024 and sell it today you would lose (3,056) from holding IDX 30 Jakarta or give up 6.33% 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. Perusahaan Perkebunan London
Performance |
| Timeline |
IDX 30 and Perusahaan Perkebunan Volatility Contrast
Predicted Return Density |
| Returns |
IDX 30 Jakarta
Pair trading matchups for IDX 30
Perusahaan Perkebunan London
Pair trading matchups for Perusahaan Perkebunan
Pair Trading with IDX 30 and Perusahaan Perkebunan
The main advantage of trading using opposite IDX 30 and Perusahaan Perkebunan positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IDX 30 position performs unexpectedly, Perusahaan Perkebunan 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 Perusahaan Perkebunan will offset losses from the drop in Perusahaan Perkebunan's long position.| IDX 30 vs. Ace Hardware Indonesia | IDX 30 vs. Capital Financial Indonesia | IDX 30 vs. PT Data Sinergitama | IDX 30 vs. Steel Pipe Industry |
| Perusahaan Perkebunan vs. Astra Agro Lestari | Perusahaan Perkebunan vs. Vale Indonesia Tbk | Perusahaan Perkebunan vs. Timah Persero Tbk | Perusahaan Perkebunan vs. United Tractors Tbk |
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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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