Correlation Between Trimitra Propertindo and Pollux Properti
Can any of the company-specific risk be diversified away by investing in both Trimitra Propertindo and Pollux Properti 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 Trimitra Propertindo and Pollux Properti into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Trimitra Propertindo Tbk and Pollux Properti Indonesia, you can compare the effects of market volatilities on Trimitra Propertindo and Pollux Properti 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 Trimitra Propertindo with a short position of Pollux Properti. Check out your portfolio center. Please also check ongoing floating volatility patterns of Trimitra Propertindo and Pollux Properti.
Diversification Opportunities for Trimitra Propertindo and Pollux Properti
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Trimitra and Pollux is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Trimitra Propertindo Tbk and Pollux Properti Indonesia in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Pollux Properti Indonesia and Trimitra Propertindo 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 Trimitra Propertindo Tbk are associated (or correlated) with Pollux Properti. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Pollux Properti Indonesia has no effect on the direction of Trimitra Propertindo i.e., Trimitra Propertindo and Pollux Properti go up and down completely randomly.
Pair Corralation between Trimitra Propertindo and Pollux Properti
If you would invest 11,200 in Pollux Properti Indonesia on November 28, 2024 and sell it today you would earn a total of 0.00 from holding Pollux Properti Indonesia 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 |
Trimitra Propertindo Tbk vs. Pollux Properti Indonesia
Performance |
| Timeline |
| Trimitra Propertindo Tbk |
| Pollux Properti Indonesia |
Trimitra Propertindo and Pollux Properti Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Trimitra Propertindo and Pollux Properti
The main advantage of trading using opposite Trimitra Propertindo and Pollux Properti positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Trimitra Propertindo position performs unexpectedly, Pollux Properti 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 Pollux Properti will offset losses from the drop in Pollux Properti's long position.| Trimitra Propertindo vs. Jaya Sukses Makmur | Trimitra Propertindo vs. Mahkota Group Tbk | Trimitra Propertindo vs. Pollux Properti Indonesia | Trimitra Propertindo vs. Kioson Komersial Indonesia |
| Pollux Properti vs. Transcoal Pacific Tbk | Pollux Properti vs. Medikaloka Hermina PT | Pollux Properti vs. Maha Properti Indonesia | Pollux Properti vs. Jaya Sukses Makmur |
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 CEOs Directory module to screen CEOs from public companies around the world.
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