Correlation Between PT Barito and OLD MUTUAL
Can any of the company-specific risk be diversified away by investing in both PT Barito and OLD MUTUAL 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 Barito and OLD MUTUAL into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between PT Barito Pacific and OLD MUTUAL LTD, you can compare the effects of market volatilities on PT Barito and OLD MUTUAL 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 Barito with a short position of OLD MUTUAL. Check out your portfolio center. Please also check ongoing floating volatility patterns of PT Barito and OLD MUTUAL.
Diversification Opportunities for PT Barito and OLD MUTUAL
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between OB8 and OLD is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding PT Barito Pacific and OLD MUTUAL LTD in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on OLD MUTUAL LTD and PT Barito 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 Barito Pacific are associated (or correlated) with OLD MUTUAL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of OLD MUTUAL LTD has no effect on the direction of PT Barito i.e., PT Barito and OLD MUTUAL go up and down completely randomly.
Pair Corralation between PT Barito and OLD MUTUAL
If you would invest 0.00 in PT Barito Pacific on November 4, 2024 and sell it today you would earn a total of 0.00 from holding PT Barito Pacific or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 4.55% |
| Values | Daily Returns |
PT Barito Pacific vs. OLD MUTUAL LTD
Performance |
| Timeline |
| PT Barito Pacific |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Weak
| OLD MUTUAL LTD |
PT Barito and OLD MUTUAL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with PT Barito and OLD MUTUAL
The main advantage of trading using opposite PT Barito and OLD MUTUAL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if PT Barito position performs unexpectedly, OLD MUTUAL 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 OLD MUTUAL will offset losses from the drop in OLD MUTUAL's long position.| PT Barito vs. TELECOM ITALIA | PT Barito vs. Entravision Communications | PT Barito vs. Chunghwa Telecom Co | PT Barito vs. BANKINTER ADR 2007 |
| OLD MUTUAL vs. Aflac Incorporated | OLD MUTUAL vs. CHINA PACINGRGDR5 YC1 | OLD MUTUAL vs. Phoenix Group Holdings | OLD MUTUAL vs. SANLAM LTD RC 01 |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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