Correlation Between MAP Aktif and Wira Global
Can any of the company-specific risk be diversified away by investing in both MAP Aktif 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 MAP Aktif and Wira Global into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between MAP Aktif Adiperkasa and Wira Global Solusi, you can compare the effects of market volatilities on MAP Aktif 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 MAP Aktif with a short position of Wira Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of MAP Aktif and Wira Global.
Diversification Opportunities for MAP Aktif and Wira Global
-0.34 | Correlation Coefficient |
Very good diversification
The 3 months correlation between MAP and Wira is -0.34. Overlapping area represents the amount of risk that can be diversified away by holding MAP Aktif Adiperkasa 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 MAP Aktif 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 MAP Aktif Adiperkasa 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 MAP Aktif i.e., MAP Aktif and Wira Global go up and down completely randomly.
Pair Corralation between MAP Aktif and Wira Global
Assuming the 90 days trading horizon MAP Aktif Adiperkasa is expected to generate 12.5 times more return on investment than Wira Global. However, MAP Aktif is 12.5 times more volatile than Wira Global Solusi. It trades about 0.05 of its potential returns per unit of risk. Wira Global Solusi is currently generating about 0.0 per unit of risk. If you would invest 43,702 in MAP Aktif Adiperkasa on November 2, 2024 and sell it today you would earn a total of 54,298 from holding MAP Aktif Adiperkasa or generate 124.25% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.79% |
| Values | Daily Returns |
MAP Aktif Adiperkasa vs. Wira Global Solusi
Performance |
| Timeline |
| MAP Aktif Adiperkasa |
| Wira Global Solusi |
MAP Aktif and Wira Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MAP Aktif and Wira Global
The main advantage of trading using opposite MAP Aktif and Wira Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MAP Aktif 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.| MAP Aktif vs. Mitra Adiperkasa Tbk | MAP Aktif vs. Map Boga Adiperkasa | MAP Aktif vs. Mitra Keluarga Karyasehat | MAP Aktif vs. Medikaloka Hermina PT |
| 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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
Other Complementary Tools
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device | |
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
| Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
| Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon |