Correlation Between IDX 30 and Solusi Sinergi
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By analyzing existing cross correlation between IDX 30 Jakarta and Solusi Sinergi Digital, you can compare the effects of market volatilities on IDX 30 and Solusi Sinergi 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 Sinergi. Check out your portfolio center. Please also check ongoing floating volatility patterns of IDX 30 and Solusi Sinergi.
Diversification Opportunities for IDX 30 and Solusi Sinergi
-0.75 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between IDX and Solusi is -0.75. Overlapping area represents the amount of risk that can be diversified away by holding IDX 30 Jakarta and Solusi Sinergi Digital in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Solusi Sinergi Digital 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 Sinergi. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Solusi Sinergi Digital has no effect on the direction of IDX 30 i.e., IDX 30 and Solusi Sinergi go up and down completely randomly.
Pair Corralation between IDX 30 and Solusi Sinergi
Assuming the 90 days trading horizon IDX 30 Jakarta is expected to under-perform the Solusi Sinergi. But the index apears to be less risky and, when comparing its historical volatility, IDX 30 Jakarta is 3.47 times less risky than Solusi Sinergi. The index trades about -0.02 of its potential returns per unit of risk. The Solusi Sinergi Digital is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest 18,880 in Solusi Sinergi Digital on September 12, 2024 and sell it today you would earn a total of 22,920 from holding Solusi Sinergi Digital or generate 121.4% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
IDX 30 Jakarta vs. Solusi Sinergi Digital
Performance |
| Timeline |
IDX 30 and Solusi Sinergi Volatility Contrast
Predicted Return Density |
| Returns |
IDX 30 Jakarta
Pair trading matchups for IDX 30
Solusi Sinergi Digital
Pair trading matchups for Solusi Sinergi
Pair Trading with IDX 30 and Solusi Sinergi
The main advantage of trading using opposite IDX 30 and Solusi Sinergi positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IDX 30 position performs unexpectedly, Solusi Sinergi 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 Sinergi will offset losses from the drop in Solusi Sinergi's long position.| IDX 30 vs. Hoffmen Cleanindo | IDX 30 vs. Panin Financial Tbk | IDX 30 vs. Lotte Chemical Titan | IDX 30 vs. PT Data Sinergitama |
| Solusi Sinergi vs. DCI Indonesia Tbk | Solusi Sinergi vs. Digital Mediatama Maxima | Solusi Sinergi vs. Multipolar Technology Tbk | Solusi Sinergi vs. Bank Net Indonesia |
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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
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