Correlation Between IDX 30 and PT Sunter
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By analyzing existing cross correlation between IDX 30 Jakarta and PT Sunter Lakeside, you can compare the effects of market volatilities on IDX 30 and PT Sunter 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 Sunter. Check out your portfolio center. Please also check ongoing floating volatility patterns of IDX 30 and PT Sunter.
Diversification Opportunities for IDX 30 and PT Sunter
Significant diversification
The 3 months correlation between IDX and SNLK is 0.08. Overlapping area represents the amount of risk that can be diversified away by holding IDX 30 Jakarta and PT Sunter Lakeside in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PT Sunter Lakeside 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 Sunter. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PT Sunter Lakeside has no effect on the direction of IDX 30 i.e., IDX 30 and PT Sunter go up and down completely randomly.
Pair Corralation between IDX 30 and PT Sunter
Assuming the 90 days trading horizon IDX 30 Jakarta is expected to under-perform the PT Sunter. But the index apears to be less risky and, when comparing its historical volatility, IDX 30 Jakarta is 4.23 times less risky than PT Sunter. The index trades about -0.06 of its potential returns per unit of risk. The PT Sunter Lakeside is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest 50,500 in PT Sunter Lakeside on August 27, 2024 and sell it today you would earn a total of 18,000 from holding PT Sunter Lakeside or generate 35.64% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
IDX 30 Jakarta vs. PT Sunter Lakeside
Performance |
| Timeline |
IDX 30 and PT Sunter Volatility Contrast
Predicted Return Density |
| Returns |
IDX 30 Jakarta
Pair trading matchups for IDX 30
PT Sunter Lakeside
Pair trading matchups for PT Sunter
Pair Trading with IDX 30 and PT Sunter
The main advantage of trading using opposite IDX 30 and PT Sunter positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IDX 30 position performs unexpectedly, PT Sunter 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 Sunter will offset losses from the drop in PT Sunter's long position.| IDX 30 vs. Lippo General Insurance | IDX 30 vs. Kedawung Setia Industrial | IDX 30 vs. Indosterling Technomedia Tbk | IDX 30 vs. Fast Food Indonesia |
| PT Sunter vs. Hotel Fitra International | PT Sunter vs. Jasa Armada Indonesia | PT Sunter vs. Cahayaputra Asa Keramik | PT Sunter vs. Campina Ice Cream |
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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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