Correlation Between IDX 30 and PT Sreeya
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By analyzing existing cross correlation between IDX 30 Jakarta and PT Sreeya Sewu, you can compare the effects of market volatilities on IDX 30 and PT Sreeya 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 PT Sreeya. Check out your portfolio center. Please also check ongoing floating volatility patterns of IDX 30 and PT Sreeya.
Diversification Opportunities for IDX 30 and PT Sreeya
Weak diversification
The 3 months correlation between IDX and SIPD is 0.35. Overlapping area represents the amount of risk that can be diversified away by holding IDX 30 Jakarta and PT Sreeya Sewu in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PT Sreeya Sewu 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 PT Sreeya. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PT Sreeya Sewu has no effect on the direction of IDX 30 i.e., IDX 30 and PT Sreeya go up and down completely randomly.
Pair Corralation between IDX 30 and PT Sreeya
Assuming the 90 days trading horizon IDX 30 Jakarta is expected to generate 0.34 times more return on investment than PT Sreeya. However, IDX 30 Jakarta is 2.94 times less risky than PT Sreeya. It trades about -0.28 of its potential returns per unit of risk. PT Sreeya Sewu is currently generating about -0.11 per unit of risk. If you would invest 46,945 in IDX 30 Jakarta on September 2, 2024 and sell it today you would lose (3,072) from holding IDX 30 Jakarta or give up 6.54% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
IDX 30 Jakarta vs. PT Sreeya Sewu
Performance |
| Timeline |
IDX 30 and PT Sreeya Volatility Contrast
Predicted Return Density |
| Returns |
IDX 30 Jakarta
Pair trading matchups for IDX 30
PT Sreeya Sewu
Pair trading matchups for PT Sreeya
Pair Trading with IDX 30 and PT Sreeya
The main advantage of trading using opposite IDX 30 and PT Sreeya positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IDX 30 position performs unexpectedly, PT Sreeya 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 PT Sreeya will offset losses from the drop in PT Sreeya's long position.| IDX 30 vs. Ace Hardware Indonesia | IDX 30 vs. Alumindo Light Metal | IDX 30 vs. Metro Healthcare Indonesia | IDX 30 vs. PT Jobubu Jarum |
| PT Sreeya vs. Bank BRISyariah Tbk | PT Sreeya vs. Mitra Pinasthika Mustika | PT Sreeya vs. Jakarta Int Hotels | PT Sreeya vs. Indosterling Technomedia 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 Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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