Correlation Between Mega Manunggal and Pollux Investasi
Can any of the company-specific risk be diversified away by investing in both Mega Manunggal and Pollux Investasi 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 Mega Manunggal and Pollux Investasi into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Mega Manunggal Property and Pollux Investasi Internasional, you can compare the effects of market volatilities on Mega Manunggal and Pollux Investasi 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 Mega Manunggal with a short position of Pollux Investasi. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mega Manunggal and Pollux Investasi.
Diversification Opportunities for Mega Manunggal and Pollux Investasi
-0.66 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Mega and Pollux is -0.66. Overlapping area represents the amount of risk that can be diversified away by holding Mega Manunggal Property and Pollux Investasi Internasional in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Pollux Investasi Int and Mega Manunggal 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 Mega Manunggal Property are associated (or correlated) with Pollux Investasi. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Pollux Investasi Int has no effect on the direction of Mega Manunggal i.e., Mega Manunggal and Pollux Investasi go up and down completely randomly.
Pair Corralation between Mega Manunggal and Pollux Investasi
If you would invest 76,000 in Pollux Investasi Internasional on November 28, 2024 and sell it today you would earn a total of 0.00 from holding Pollux Investasi Internasional or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 95.0% |
| Values | Daily Returns |
Mega Manunggal Property vs. Pollux Investasi Internasional
Performance |
| Timeline |
| Mega Manunggal Property |
| Pollux Investasi Int |
Mega Manunggal and Pollux Investasi Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mega Manunggal and Pollux Investasi
The main advantage of trading using opposite Mega Manunggal and Pollux Investasi positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mega Manunggal position performs unexpectedly, Pollux Investasi 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 Pollux Investasi will offset losses from the drop in Pollux Investasi's long position.| Mega Manunggal vs. Puradelta Lestari PT | Mega Manunggal vs. Jaya Real Property | Mega Manunggal vs. Bekasi Fajar Industrial | Mega Manunggal vs. Metropolitan Land Tbk |
| Pollux Investasi vs. Pollux Properti Indonesia | Pollux Investasi vs. Maha Properti Indonesia | Pollux Investasi vs. Mega Manunggal Property | Pollux Investasi vs. Urban Jakarta Propertindo |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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