Correlation Between Ictsi Jasa and Samudera Indonesia
Can any of the company-specific risk be diversified away by investing in both Ictsi Jasa and Samudera Indonesia at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Ictsi Jasa and Samudera Indonesia into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Ictsi Jasa Prima and Samudera Indonesia Tbk, you can compare the effects of market volatilities on Ictsi Jasa and Samudera Indonesia 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 Ictsi Jasa with a short position of Samudera Indonesia. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ictsi Jasa and Samudera Indonesia.
Diversification Opportunities for Ictsi Jasa and Samudera Indonesia
0.66 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Ictsi and Samudera is 0.66. Overlapping area represents the amount of risk that can be diversified away by holding Ictsi Jasa Prima and Samudera Indonesia Tbk in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Samudera Indonesia Tbk and Ictsi Jasa 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 Ictsi Jasa Prima are associated (or correlated) with Samudera Indonesia. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Samudera Indonesia Tbk has no effect on the direction of Ictsi Jasa i.e., Ictsi Jasa and Samudera Indonesia go up and down completely randomly.
Pair Corralation between Ictsi Jasa and Samudera Indonesia
If you would invest 23,800 in Samudera Indonesia Tbk on December 9, 2024 and sell it today you would earn a total of 400.00 from holding Samudera Indonesia Tbk or generate 1.68% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Ictsi Jasa Prima vs. Samudera Indonesia Tbk
Performance |
| Timeline |
| Ictsi Jasa Prima |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
| Samudera Indonesia Tbk |
Ictsi Jasa and Samudera Indonesia Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ictsi Jasa and Samudera Indonesia
The main advantage of trading using opposite Ictsi Jasa and Samudera Indonesia positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ictsi Jasa position performs unexpectedly, Samudera Indonesia 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 Samudera Indonesia will offset losses from the drop in Samudera Indonesia's long position.| Ictsi Jasa vs. Kabelindo Murni Tbk | ||
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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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