Correlation Between MNC Studios and Sinergi Inti
Can any of the company-specific risk be diversified away by investing in both MNC Studios and Sinergi Inti 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 MNC Studios and Sinergi Inti into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between MNC Studios International and Sinergi Inti Plastindo, you can compare the effects of market volatilities on MNC Studios and Sinergi Inti 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 MNC Studios with a short position of Sinergi Inti. Check out your portfolio center. Please also check ongoing floating volatility patterns of MNC Studios and Sinergi Inti.
Diversification Opportunities for MNC Studios and Sinergi Inti
0.81 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between MNC and Sinergi is 0.81. Overlapping area represents the amount of risk that can be diversified away by holding MNC Studios International and Sinergi Inti Plastindo in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sinergi Inti Plastindo and MNC Studios 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 MNC Studios International are associated (or correlated) with Sinergi Inti. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sinergi Inti Plastindo has no effect on the direction of MNC Studios i.e., MNC Studios and Sinergi Inti go up and down completely randomly.
Pair Corralation between MNC Studios and Sinergi Inti
Assuming the 90 days trading horizon MNC Studios International is expected to generate 16.68 times more return on investment than Sinergi Inti. However, MNC Studios is 16.68 times more volatile than Sinergi Inti Plastindo. It trades about 0.04 of its potential returns per unit of risk. Sinergi Inti Plastindo is currently generating about -0.06 per unit of risk. If you would invest 98,000 in MNC Studios International on August 30, 2024 and sell it today you would earn a total of 1,000.00 from holding MNC Studios International or generate 1.02% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
MNC Studios International vs. Sinergi Inti Plastindo
Performance |
| Timeline |
| MNC Studios International |
| Sinergi Inti Plastindo |
MNC Studios and Sinergi Inti Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MNC Studios and Sinergi Inti
The main advantage of trading using opposite MNC Studios and Sinergi Inti positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MNC Studios position performs unexpectedly, Sinergi Inti 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 Sinergi Inti will offset losses from the drop in Sinergi Inti's long position.| MNC Studios vs. Bank Artos Indonesia | MNC Studios vs. PT Bukalapak | MNC Studios vs. Sumber Alfaria Trijaya | MNC Studios vs. Merdeka Copper Gold |
| Sinergi Inti vs. Lotte Chemical Titan | Sinergi Inti vs. Agro Yasa Lestari | Sinergi Inti vs. Era Mandiri Cemerlang | Sinergi Inti vs. Jasnita Telekomindo Tbk |
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
Other Complementary Tools
| Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets | |
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity | |
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| Idea Optimizer Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio | |
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities |