Correlation Between IDX 30 and Aesler Grup
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By analyzing existing cross correlation between IDX 30 Jakarta and Aesler Grup Internasional, you can compare the effects of market volatilities on IDX 30 and Aesler Grup 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 Aesler Grup. Check out your portfolio center. Please also check ongoing floating volatility patterns of IDX 30 and Aesler Grup.
Diversification Opportunities for IDX 30 and Aesler Grup
-0.42 | Correlation Coefficient |
Very good diversification
The 3 months correlation between IDX and Aesler is -0.42. Overlapping area represents the amount of risk that can be diversified away by holding IDX 30 Jakarta and Aesler Grup Internasional in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Aesler Grup Internasional 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 Aesler Grup. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Aesler Grup Internasional has no effect on the direction of IDX 30 i.e., IDX 30 and Aesler Grup go up and down completely randomly.
Pair Corralation between IDX 30 and Aesler Grup
Assuming the 90 days trading horizon IDX 30 Jakarta is expected to under-perform the Aesler Grup. But the index apears to be less risky and, when comparing its historical volatility, IDX 30 Jakarta is 3.1 times less risky than Aesler Grup. The index trades about -0.18 of its potential returns per unit of risk. The Aesler Grup Internasional is currently generating about 0.55 of returns per unit of risk over similar time horizon. If you would invest 40,000 in Aesler Grup Internasional on September 5, 2024 and sell it today you would earn a total of 23,500 from holding Aesler Grup Internasional or generate 58.75% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 95.45% |
| Values | Daily Returns |
IDX 30 Jakarta vs. Aesler Grup Internasional
Performance |
| Timeline |
IDX 30 and Aesler Grup Volatility Contrast
Predicted Return Density |
| Returns |
IDX 30 Jakarta
Pair trading matchups for IDX 30
Aesler Grup Internasional
Pair trading matchups for Aesler Grup
Pair Trading with IDX 30 and Aesler Grup
The main advantage of trading using opposite IDX 30 and Aesler Grup positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IDX 30 position performs unexpectedly, Aesler Grup 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 Aesler Grup will offset losses from the drop in Aesler Grup's long position.| IDX 30 vs. Garuda Metalindo Tbk | IDX 30 vs. Panin Financial Tbk | IDX 30 vs. Indosterling Technomedia Tbk | IDX 30 vs. Lion Metal Works |
| Aesler Grup vs. Garudafood Putra Putri | Aesler Grup vs. Capital Financial Indonesia | Aesler Grup vs. Pertamina Geothermal Energy | Aesler Grup vs. Lion Metal Works |
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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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