Correlation Between IDX 30 and Jaya Sukses
Specify exactly 2 symbols:
By analyzing existing cross correlation between IDX 30 Jakarta and Jaya Sukses Makmur, you can compare the effects of market volatilities on IDX 30 and Jaya Sukses 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 Jaya Sukses. Check out your portfolio center. Please also check ongoing floating volatility patterns of IDX 30 and Jaya Sukses.
Diversification Opportunities for IDX 30 and Jaya Sukses
-0.28 | Correlation Coefficient |
Very good diversification
The 3 months correlation between IDX and Jaya is -0.28. Overlapping area represents the amount of risk that can be diversified away by holding IDX 30 Jakarta and Jaya Sukses Makmur in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jaya Sukses 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 Jaya Sukses. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jaya Sukses Makmur has no effect on the direction of IDX 30 i.e., IDX 30 and Jaya Sukses go up and down completely randomly.
Pair Corralation between IDX 30 and Jaya Sukses
Assuming the 90 days trading horizon IDX 30 Jakarta is expected to generate 1.03 times more return on investment than Jaya Sukses. However, IDX 30 is 1.03 times more volatile than Jaya Sukses Makmur. It trades about -0.02 of its potential returns per unit of risk. Jaya Sukses Makmur is currently generating about -0.02 per unit of risk. If you would invest 48,771 in IDX 30 Jakarta on August 30, 2024 and sell it today you would lose (3,996) from holding IDX 30 Jakarta or give up 8.19% 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. Jaya Sukses Makmur
Performance |
| Timeline |
IDX 30 and Jaya Sukses Volatility Contrast
Predicted Return Density |
| Returns |
IDX 30 Jakarta
Pair trading matchups for IDX 30
Jaya Sukses Makmur
Pair trading matchups for Jaya Sukses
Pair Trading with IDX 30 and Jaya Sukses
The main advantage of trading using opposite IDX 30 and Jaya Sukses positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IDX 30 position performs unexpectedly, Jaya Sukses 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 Jaya Sukses will offset losses from the drop in Jaya Sukses' long position.| IDX 30 vs. Weha Transportasi Indonesia | IDX 30 vs. PT Boston Furniture | IDX 30 vs. Yelooo Integra Datanet | IDX 30 vs. Surya Citra Media |
| Jaya Sukses vs. Pollux Properti Indonesia | Jaya Sukses vs. MNC Studios International | Jaya Sukses vs. MAP Aktif Adiperkasa | Jaya Sukses vs. Trimitra Propertindo 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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
Other Complementary Tools
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities | |
| Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios | |
| Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing |