Correlation Between IDX 30 and Planet Properindo
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By analyzing existing cross correlation between IDX 30 Jakarta and Planet Properindo Jaya, you can compare the effects of market volatilities on IDX 30 and Planet Properindo 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 Planet Properindo. Check out your portfolio center. Please also check ongoing floating volatility patterns of IDX 30 and Planet Properindo.
Diversification Opportunities for IDX 30 and Planet Properindo
-0.66 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between IDX and Planet is -0.66. Overlapping area represents the amount of risk that can be diversified away by holding IDX 30 Jakarta and Planet Properindo Jaya in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Planet Properindo Jaya 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 Planet Properindo. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Planet Properindo Jaya has no effect on the direction of IDX 30 i.e., IDX 30 and Planet Properindo go up and down completely randomly.
Pair Corralation between IDX 30 and Planet Properindo
Assuming the 90 days trading horizon IDX 30 Jakarta is expected to under-perform the Planet Properindo. But the index apears to be less risky and, when comparing its historical volatility, IDX 30 Jakarta is 4.15 times less risky than Planet Properindo. The index trades about -0.03 of its potential returns per unit of risk. The Planet Properindo Jaya is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest 2,900 in Planet Properindo Jaya on September 3, 2024 and sell it today you would earn a total of 200.00 from holding Planet Properindo Jaya or generate 6.9% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
IDX 30 Jakarta vs. Planet Properindo Jaya
Performance |
| Timeline |
IDX 30 and Planet Properindo Volatility Contrast
Predicted Return Density |
| Returns |
IDX 30 Jakarta
Pair trading matchups for IDX 30
Planet Properindo Jaya
Pair trading matchups for Planet Properindo
Pair Trading with IDX 30 and Planet Properindo
The main advantage of trading using opposite IDX 30 and Planet Properindo positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IDX 30 position performs unexpectedly, Planet Properindo 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 Planet Properindo will offset losses from the drop in Planet Properindo's long position.| IDX 30 vs. Smartfren Telecom Tbk | IDX 30 vs. Hoffmen Cleanindo | IDX 30 vs. Hero Supermarket Tbk | IDX 30 vs. PT Bank Bisnis |
| Planet Properindo vs. Campina Ice Cream | Planet Properindo vs. Mitra Pinasthika Mustika | Planet Properindo vs. Jakarta Int Hotels | Planet Properindo vs. Indosat 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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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