Correlation Between Multi Agro and Anabatic Technologies
Can any of the company-specific risk be diversified away by investing in both Multi Agro and Anabatic Technologies 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 Multi Agro and Anabatic Technologies into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Multi Agro Gemilang and Anabatic Technologies Tbk, you can compare the effects of market volatilities on Multi Agro and Anabatic Technologies 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 Multi Agro with a short position of Anabatic Technologies. Check out your portfolio center. Please also check ongoing floating volatility patterns of Multi Agro and Anabatic Technologies.
Diversification Opportunities for Multi Agro and Anabatic Technologies
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Multi and Anabatic is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Multi Agro Gemilang and Anabatic Technologies Tbk in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anabatic Technologies Tbk and Multi Agro 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 Multi Agro Gemilang are associated (or correlated) with Anabatic Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anabatic Technologies Tbk has no effect on the direction of Multi Agro i.e., Multi Agro and Anabatic Technologies go up and down completely randomly.
Pair Corralation between Multi Agro and Anabatic Technologies
If you would invest 5,000 in Multi Agro Gemilang on September 12, 2024 and sell it today you would earn a total of 0.00 from holding Multi Agro Gemilang or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
Multi Agro Gemilang vs. Anabatic Technologies Tbk
Performance |
| Timeline |
| Multi Agro Gemilang |
| Anabatic Technologies Tbk |
Multi Agro and Anabatic Technologies Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Multi Agro and Anabatic Technologies
The main advantage of trading using opposite Multi Agro and Anabatic Technologies positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Multi Agro position performs unexpectedly, Anabatic Technologies 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 Anabatic Technologies will offset losses from the drop in Anabatic Technologies' long position.| Multi Agro vs. Sentra Food Indonesia | Multi Agro vs. Indofood Cbp Sukses | Multi Agro vs. FKS Food Sejahtera | Multi Agro vs. Humpuss Intermoda Transportasi |
| Anabatic Technologies vs. Multipolar Technology Tbk | Anabatic Technologies vs. Abm Investama Tbk | Anabatic Technologies vs. Arita Prima Indonesia | Anabatic Technologies vs. Bali Towerindo Sentra |
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 Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
Other Complementary Tools
| Global Correlations Find global opportunities by holding instruments from different markets | |
| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities | |
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences |