Correlation Between IDX 30 and Solusi Bangun
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By analyzing existing cross correlation between IDX 30 Jakarta and Solusi Bangun Indonesia, you can compare the effects of market volatilities on IDX 30 and Solusi Bangun 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 Solusi Bangun. Check out your portfolio center. Please also check ongoing floating volatility patterns of IDX 30 and Solusi Bangun.
Diversification Opportunities for IDX 30 and Solusi Bangun
-0.13 | Correlation Coefficient |
Good diversification
The 3 months correlation between IDX and Solusi is -0.13. Overlapping area represents the amount of risk that can be diversified away by holding IDX 30 Jakarta and Solusi Bangun Indonesia in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Solusi Bangun Indonesia 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 Solusi Bangun. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Solusi Bangun Indonesia has no effect on the direction of IDX 30 i.e., IDX 30 and Solusi Bangun go up and down completely randomly.
Pair Corralation between IDX 30 and Solusi Bangun
Assuming the 90 days trading horizon IDX 30 Jakarta is expected to generate 0.33 times more return on investment than Solusi Bangun. However, IDX 30 Jakarta is 3.0 times less risky than Solusi Bangun. It trades about -0.03 of its potential returns per unit of risk. Solusi Bangun Indonesia is currently generating about -0.04 per unit of risk. If you would invest 49,699 in IDX 30 Jakarta on August 31, 2024 and sell it today you would lose (5,826) from holding IDX 30 Jakarta or give up 11.72% 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. Solusi Bangun Indonesia
Performance |
| Timeline |
IDX 30 and Solusi Bangun Volatility Contrast
Predicted Return Density |
| Returns |
IDX 30 Jakarta
Pair trading matchups for IDX 30
Solusi Bangun Indonesia
Pair trading matchups for Solusi Bangun
Pair Trading with IDX 30 and Solusi Bangun
The main advantage of trading using opposite IDX 30 and Solusi Bangun positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IDX 30 position performs unexpectedly, Solusi Bangun 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 Solusi Bangun will offset losses from the drop in Solusi Bangun's long position.| IDX 30 vs. Victoria Insurance Tbk | IDX 30 vs. Indo Acidatama Tbk | IDX 30 vs. PT Data Sinergitama | IDX 30 vs. Garudafood Putra Putri |
| Solusi Bangun vs. Semen Indonesia Persero | Solusi Bangun vs. Indocement Tunggal Prakarsa | Solusi Bangun vs. Bakrie Sumatera Plantations | Solusi Bangun vs. Timah Persero 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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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