Correlation Between PT Trimegah and Trinitan Metals
Can any of the company-specific risk be diversified away by investing in both PT Trimegah and Trinitan Metals 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 PT Trimegah and Trinitan Metals into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between PT Trimegah Bangun and Trinitan Metals and, you can compare the effects of market volatilities on PT Trimegah and Trinitan Metals 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 PT Trimegah with a short position of Trinitan Metals. Check out your portfolio center. Please also check ongoing floating volatility patterns of PT Trimegah and Trinitan Metals.
Diversification Opportunities for PT Trimegah and Trinitan Metals
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between NCKL and Trinitan is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding PT Trimegah Bangun and Trinitan Metals and in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Trinitan Metals and PT Trimegah 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 PT Trimegah Bangun are associated (or correlated) with Trinitan Metals. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Trinitan Metals has no effect on the direction of PT Trimegah i.e., PT Trimegah and Trinitan Metals go up and down completely randomly.
Pair Corralation between PT Trimegah and Trinitan Metals
If you would invest 5,100 in Trinitan Metals and on August 30, 2024 and sell it today you would earn a total of 0.00 from holding Trinitan Metals and or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 82.28% |
| Values | Daily Returns |
PT Trimegah Bangun vs. Trinitan Metals and
Performance |
| Timeline |
| PT Trimegah Bangun |
| Trinitan Metals |
PT Trimegah and Trinitan Metals Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with PT Trimegah and Trinitan Metals
The main advantage of trading using opposite PT Trimegah and Trinitan Metals positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if PT Trimegah position performs unexpectedly, Trinitan Metals 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 Trinitan Metals will offset losses from the drop in Trinitan Metals' long position.| PT Trimegah vs. Bank Central Asia | PT Trimegah vs. Bank Rakyat Indonesia | PT Trimegah vs. Bayan Resources Tbk | PT Trimegah vs. Bank Mandiri Persero |
| Trinitan Metals vs. Ashmore Asset Management | Trinitan Metals vs. Intermedia Capital Tbk | Trinitan Metals vs. Fast Food Indonesia | Trinitan Metals vs. Sentra Food Indonesia |
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 Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
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