Correlation Between Kioson Komersial and Wira Global
Can any of the company-specific risk be diversified away by investing in both Kioson Komersial and Wira Global 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 Kioson Komersial and Wira Global into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Kioson Komersial Indonesia and Wira Global Solusi, you can compare the effects of market volatilities on Kioson Komersial and Wira Global 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 Kioson Komersial with a short position of Wira Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kioson Komersial and Wira Global.
Diversification Opportunities for Kioson Komersial and Wira Global
0.36 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Kioson and Wira is 0.36. Overlapping area represents the amount of risk that can be diversified away by holding Kioson Komersial Indonesia and Wira Global Solusi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Wira Global Solusi and Kioson Komersial 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 Kioson Komersial Indonesia are associated (or correlated) with Wira Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Wira Global Solusi has no effect on the direction of Kioson Komersial i.e., Kioson Komersial and Wira Global go up and down completely randomly.
Pair Corralation between Kioson Komersial and Wira Global
If you would invest 5,000 in Kioson Komersial Indonesia on September 2, 2024 and sell it today you would earn a total of 0.00 from holding Kioson Komersial Indonesia or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kioson Komersial Indonesia vs. Wira Global Solusi
Performance |
| Timeline |
| Kioson Komersial Ind |
| Wira Global Solusi |
Kioson Komersial and Wira Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kioson Komersial and Wira Global
The main advantage of trading using opposite Kioson Komersial and Wira Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kioson Komersial position performs unexpectedly, Wira Global 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 Wira Global will offset losses from the drop in Wira Global's long position.| Kioson Komersial vs. M Cash Integrasi | Kioson Komersial vs. NFC Indonesia PT | Kioson Komersial vs. Multipolar Technology Tbk | Kioson Komersial vs. Digital Mediatama Maxima |
| Wira Global vs. Trimegah Karya Pratama | Wira Global vs. Global Sukses Solusi | Wira Global vs. Jaya Swarasa Agung | Wira Global vs. RMK Energy PT |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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