Correlation Between Karya Bersama and Sejahtera Bintang
Can any of the company-specific risk be diversified away by investing in both Karya Bersama and Sejahtera Bintang 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 Karya Bersama and Sejahtera Bintang into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Karya Bersama Anugerah and Sejahtera Bintang Abadi, you can compare the effects of market volatilities on Karya Bersama and Sejahtera Bintang 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 Karya Bersama with a short position of Sejahtera Bintang. Check out your portfolio center. Please also check ongoing floating volatility patterns of Karya Bersama and Sejahtera Bintang.
Diversification Opportunities for Karya Bersama and Sejahtera Bintang
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Karya and Sejahtera is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Karya Bersama Anugerah and Sejahtera Bintang Abadi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sejahtera Bintang Abadi and Karya Bersama 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 Karya Bersama Anugerah are associated (or correlated) with Sejahtera Bintang. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sejahtera Bintang Abadi has no effect on the direction of Karya Bersama i.e., Karya Bersama and Sejahtera Bintang go up and down completely randomly.
Pair Corralation between Karya Bersama and Sejahtera Bintang
If you would invest 1,900 in Karya Bersama Anugerah on September 4, 2024 and sell it today you would earn a total of 0.00 from holding Karya Bersama Anugerah or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Karya Bersama Anugerah vs. Sejahtera Bintang Abadi
Performance |
| Timeline |
| Karya Bersama Anugerah |
| Sejahtera Bintang Abadi |
Karya Bersama and Sejahtera Bintang Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Karya Bersama and Sejahtera Bintang
The main advantage of trading using opposite Karya Bersama and Sejahtera Bintang positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Karya Bersama position performs unexpectedly, Sejahtera Bintang 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 Sejahtera Bintang will offset losses from the drop in Sejahtera Bintang's long position.| Karya Bersama vs. Putra Rajawali Kencana | Karya Bersama vs. Repower Asia Indonesia | Karya Bersama vs. DMS Propertindo Tbk | Karya Bersama vs. Perintis Triniti Properti |
| Sejahtera Bintang vs. Putra Rajawali Kencana | Sejahtera Bintang vs. Karya Bersama Anugerah | Sejahtera Bintang vs. Era Mandiri Cemerlang | Sejahtera Bintang vs. Terregra Asia Energy |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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