Correlation Between Matahari Department and Visi Media
Can any of the company-specific risk be diversified away by investing in both Matahari Department and Visi Media 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 Matahari Department and Visi Media into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Matahari Department Store and Visi Media Asia, you can compare the effects of market volatilities on Matahari Department and Visi Media 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 Matahari Department with a short position of Visi Media. Check out your portfolio center. Please also check ongoing floating volatility patterns of Matahari Department and Visi Media.
Diversification Opportunities for Matahari Department and Visi Media
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Matahari and Visi is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Matahari Department Store and Visi Media Asia in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Visi Media Asia and Matahari Department 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 Matahari Department Store are associated (or correlated) with Visi Media. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Visi Media Asia has no effect on the direction of Matahari Department i.e., Matahari Department and Visi Media go up and down completely randomly.
Pair Corralation between Matahari Department and Visi Media
If you would invest 600.00 in Visi Media Asia on August 31, 2024 and sell it today you would earn a total of 0.00 from holding Visi Media Asia 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 |
Matahari Department Store vs. Visi Media Asia
Performance |
| Timeline |
| Matahari Department Store |
| Visi Media Asia |
Matahari Department and Visi Media Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Matahari Department and Visi Media
The main advantage of trading using opposite Matahari Department and Visi Media positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Matahari Department position performs unexpectedly, Visi Media 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 Visi Media will offset losses from the drop in Visi Media's long position.| Matahari Department vs. Surya Citra Media | Matahari Department vs. Akr Corporindo Tbk | Matahari Department vs. Media Nusantara Citra | Matahari Department vs. Pembangunan Perumahan PT |
| Visi Media vs. Indosat Tbk | Visi Media vs. XL Axiata Tbk | Visi Media vs. Energi Mega Persada | Visi Media vs. Bakrie Brothers Tbk |
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 Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
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