Correlation Between IDX 30 and Rimo International
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By analyzing existing cross correlation between IDX 30 Jakarta and Rimo International Lestari, you can compare the effects of market volatilities on IDX 30 and Rimo International 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 Rimo International. Check out your portfolio center. Please also check ongoing floating volatility patterns of IDX 30 and Rimo International.
Diversification Opportunities for IDX 30 and Rimo International
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between IDX and Rimo is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding IDX 30 Jakarta and Rimo International Lestari in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Rimo International 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 Rimo International. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Rimo International has no effect on the direction of IDX 30 i.e., IDX 30 and Rimo International go up and down completely randomly.
Pair Corralation between IDX 30 and Rimo International
If you would invest 5,000 in Rimo International Lestari on September 4, 2024 and sell it today you would earn a total of 0.00 from holding Rimo International Lestari 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. Rimo International Lestari
Performance |
| Timeline |
IDX 30 and Rimo International Volatility Contrast
Predicted Return Density |
| Returns |
IDX 30 Jakarta
Pair trading matchups for IDX 30
Rimo International Lestari
Pair trading matchups for Rimo International
Pair Trading with IDX 30 and Rimo International
The main advantage of trading using opposite IDX 30 and Rimo International positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IDX 30 position performs unexpectedly, Rimo International 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 Rimo International will offset losses from the drop in Rimo International's long position.| IDX 30 vs. Lippo General Insurance | IDX 30 vs. Indo Acidatama Tbk | IDX 30 vs. Communication Cable Systems | IDX 30 vs. Lion Metal Works |
| Rimo International vs. Eastparc Hotel Tbk | Rimo International vs. Inocycle Technology Tbk | Rimo International vs. City Retail Developments | Rimo International vs. Ace Hardware Indonesia |
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 Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
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