Correlation Between Intermedia Capital and Bekasi Fajar
Can any of the company-specific risk be diversified away by investing in both Intermedia Capital and Bekasi Fajar 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 Intermedia Capital and Bekasi Fajar into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Intermedia Capital Tbk and Bekasi Fajar Industrial, you can compare the effects of market volatilities on Intermedia Capital and Bekasi Fajar 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 Intermedia Capital with a short position of Bekasi Fajar. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intermedia Capital and Bekasi Fajar.
Diversification Opportunities for Intermedia Capital and Bekasi Fajar
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Intermedia and Bekasi is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Intermedia Capital Tbk and Bekasi Fajar Industrial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bekasi Fajar Industrial and Intermedia Capital 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 Intermedia Capital Tbk are associated (or correlated) with Bekasi Fajar. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bekasi Fajar Industrial has no effect on the direction of Intermedia Capital i.e., Intermedia Capital and Bekasi Fajar go up and down completely randomly.
Pair Corralation between Intermedia Capital and Bekasi Fajar
If you would invest 1,000.00 in Intermedia Capital Tbk on September 2, 2024 and sell it today you would earn a total of 0.00 from holding Intermedia Capital Tbk or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
Intermedia Capital Tbk vs. Bekasi Fajar Industrial
Performance |
| Timeline |
| Intermedia Capital Tbk |
| Bekasi Fajar Industrial |
Intermedia Capital and Bekasi Fajar Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Intermedia Capital and Bekasi Fajar
The main advantage of trading using opposite Intermedia Capital and Bekasi Fajar positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intermedia Capital position performs unexpectedly, Bekasi Fajar 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 Bekasi Fajar will offset losses from the drop in Bekasi Fajar's long position.| Intermedia Capital vs. Visi Media Asia | Intermedia Capital vs. Mnc Sky Vision | Intermedia Capital vs. Mahaka Radio Integra | Intermedia Capital vs. Mnc Land Tbk |
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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 Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
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