Correlation Between Mas Murni and Pembangunan Graha
Can any of the company-specific risk be diversified away by investing in both Mas Murni and Pembangunan Graha 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 Mas Murni and Pembangunan Graha into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Mas Murni Indonesia and Pembangunan Graha Lestari, you can compare the effects of market volatilities on Mas Murni and Pembangunan Graha 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 Mas Murni with a short position of Pembangunan Graha. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mas Murni and Pembangunan Graha.
Diversification Opportunities for Mas Murni and Pembangunan Graha
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Mas and Pembangunan is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Mas Murni Indonesia and Pembangunan Graha Lestari in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Pembangunan Graha Lestari and Mas Murni 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 Mas Murni Indonesia are associated (or correlated) with Pembangunan Graha. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Pembangunan Graha Lestari has no effect on the direction of Mas Murni i.e., Mas Murni and Pembangunan Graha go up and down completely randomly.
Pair Corralation between Mas Murni and Pembangunan Graha
If you would invest 5,000 in Mas Murni Indonesia on December 4, 2024 and sell it today you would earn a total of 0.00 from holding Mas Murni 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 |
Mas Murni Indonesia vs. Pembangunan Graha Lestari
Performance |
| Timeline |
| Mas Murni Indonesia |
| Pembangunan Graha Lestari |
Mas Murni and Pembangunan Graha Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mas Murni and Pembangunan Graha
The main advantage of trading using opposite Mas Murni and Pembangunan Graha positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mas Murni position performs unexpectedly, Pembangunan Graha 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 Pembangunan Graha will offset losses from the drop in Pembangunan Graha's long position.| Mas Murni vs. First Media Tbk | Mas Murni vs. Tera Data Indonusa | Mas Murni vs. Sentra Food Indonesia | Mas Murni vs. Indosterling Technomedia Tbk |
| Pembangunan Graha vs. Red Planet Indonesia | Pembangunan Graha vs. Pudjiadi Sons Tbk | Pembangunan Graha vs. Pembangunan Jaya Ancol | Pembangunan Graha vs. Pioneerindo Gourmet International |
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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
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