Correlation Between IDX 30 and Satyamitra Kemas
Specify exactly 2 symbols:
By analyzing existing cross correlation between IDX 30 Jakarta and Satyamitra Kemas Lestari, you can compare the effects of market volatilities on IDX 30 and Satyamitra Kemas 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 Satyamitra Kemas. Check out your portfolio center. Please also check ongoing floating volatility patterns of IDX 30 and Satyamitra Kemas.
Diversification Opportunities for IDX 30 and Satyamitra Kemas
0.8 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between IDX and Satyamitra is 0.8. Overlapping area represents the amount of risk that can be diversified away by holding IDX 30 Jakarta and Satyamitra Kemas Lestari in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Satyamitra Kemas Lestari 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 Satyamitra Kemas. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Satyamitra Kemas Lestari has no effect on the direction of IDX 30 i.e., IDX 30 and Satyamitra Kemas go up and down completely randomly.
Pair Corralation between IDX 30 and Satyamitra Kemas
Assuming the 90 days trading horizon IDX 30 Jakarta is expected to generate 0.75 times more return on investment than Satyamitra Kemas. However, IDX 30 Jakarta is 1.33 times less risky than Satyamitra Kemas. It trades about -0.03 of its potential returns per unit of risk. Satyamitra Kemas Lestari is currently generating about -0.26 per unit of risk. If you would invest 45,280 in IDX 30 Jakarta on September 13, 2024 and sell it today you would lose (475.00) from holding IDX 30 Jakarta or give up 1.05% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
IDX 30 Jakarta vs. Satyamitra Kemas Lestari
Performance |
| Timeline |
IDX 30 and Satyamitra Kemas Volatility Contrast
Predicted Return Density |
| Returns |
IDX 30 Jakarta
Pair trading matchups for IDX 30
Satyamitra Kemas Lestari
Pair trading matchups for Satyamitra Kemas
Pair Trading with IDX 30 and Satyamitra Kemas
The main advantage of trading using opposite IDX 30 and Satyamitra Kemas positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IDX 30 position performs unexpectedly, Satyamitra Kemas 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 Satyamitra Kemas will offset losses from the drop in Satyamitra Kemas' long position.| IDX 30 vs. Lion Metal Works | IDX 30 vs. Hotel Sahid Jaya | IDX 30 vs. Dharma Polimetal Tbk | IDX 30 vs. Indo Acidatama Tbk |
| Satyamitra Kemas vs. Saraswanti Anugerah Makmur | Satyamitra Kemas vs. Panca Budi Idaman | Satyamitra Kemas vs. Indonesia Fibreboard Industry | Satyamitra Kemas vs. Kencana Energi Lestari |
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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
Other Complementary Tools
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| Commodity Directory Find actively traded commodities issued by global exchanges | |
| Fundamental Analysis View fundamental data based on most recent published financial statements | |
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
| Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios |