Correlation Between City Retail and Grand Kartech
Can any of the company-specific risk be diversified away by investing in both City Retail and Grand Kartech 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 City Retail and Grand Kartech into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between City Retail Developments and Grand Kartech Tbk, you can compare the effects of market volatilities on City Retail and Grand Kartech 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 City Retail with a short position of Grand Kartech. Check out your portfolio center. Please also check ongoing floating volatility patterns of City Retail and Grand Kartech.
Diversification Opportunities for City Retail and Grand Kartech
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between City and Grand is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding City Retail Developments and Grand Kartech Tbk in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Grand Kartech Tbk and City Retail 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 City Retail Developments are associated (or correlated) with Grand Kartech. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Grand Kartech Tbk has no effect on the direction of City Retail i.e., City Retail and Grand Kartech go up and down completely randomly.
Pair Corralation between City Retail and Grand Kartech
If you would invest 13,500 in City Retail Developments on September 3, 2024 and sell it today you would earn a total of 0.00 from holding City Retail Developments or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.0% |
| Values | Daily Returns |
City Retail Developments vs. Grand Kartech Tbk
Performance |
| Timeline |
| City Retail Developments |
| Grand Kartech Tbk |
City Retail and Grand Kartech Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with City Retail and Grand Kartech
The main advantage of trading using opposite City Retail and Grand Kartech positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if City Retail position performs unexpectedly, Grand Kartech 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 Grand Kartech will offset losses from the drop in Grand Kartech's long position.| City Retail vs. Mitra Pinasthika Mustika | City Retail vs. Jakarta Int Hotels | City Retail vs. Asuransi Harta Aman | City Retail vs. Indosterling Technomedia Tbk |
| Grand Kartech vs. Intanwijaya Internasional Tbk | Grand Kartech vs. Champion Pacific Indonesia | Grand Kartech vs. Mitra Pinasthika Mustika | Grand Kartech vs. Jakarta Int Hotels |
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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
Other Complementary Tools
| Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. | |
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
| Correlation Analysis Reduce portfolio risk simply by holding instruments which are not perfectly correlated | |
| Transaction History View history of all your transactions and understand their impact on performance | |
| Technical Analysis Check basic technical indicators and analysis based on most latest market data |