Correlation Between Oscar Mitra and PT Kusuma
Can any of the company-specific risk be diversified away by investing in both Oscar Mitra and PT Kusuma 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 Oscar Mitra and PT Kusuma into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Oscar Mitra Sukses and PT Kusuma Kemindo, you can compare the effects of market volatilities on Oscar Mitra and PT Kusuma 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 Oscar Mitra with a short position of PT Kusuma. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oscar Mitra and PT Kusuma.
Diversification Opportunities for Oscar Mitra and PT Kusuma
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Oscar and KKES is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Oscar Mitra Sukses and PT Kusuma Kemindo in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PT Kusuma Kemindo and Oscar Mitra 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 Oscar Mitra Sukses are associated (or correlated) with PT Kusuma. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PT Kusuma Kemindo has no effect on the direction of Oscar Mitra i.e., Oscar Mitra and PT Kusuma go up and down completely randomly.
Pair Corralation between Oscar Mitra and PT Kusuma
If you would invest (100.00) in Oscar Mitra Sukses on September 2, 2024 and sell it today you would earn a total of 100.00 from holding Oscar Mitra Sukses or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Oscar Mitra Sukses vs. PT Kusuma Kemindo
Performance |
| Timeline |
| Oscar Mitra Sukses |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| PT Kusuma Kemindo |
Oscar Mitra and PT Kusuma Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Oscar Mitra and PT Kusuma
The main advantage of trading using opposite Oscar Mitra and PT Kusuma positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oscar Mitra position performs unexpectedly, PT Kusuma 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 PT Kusuma will offset losses from the drop in PT Kusuma's long position.| Oscar Mitra vs. Imago Mulia Persada | Oscar Mitra vs. Damai Sejahtera Abadi | Oscar Mitra vs. Nanotech Indonesia Global | Oscar Mitra vs. PT Winner Nusantara |
| PT Kusuma vs. PT Hetzer Medical | PT Kusuma vs. Bangun Karya Perkasa | PT Kusuma vs. PT Dewi Shri | PT Kusuma vs. PT Sari Kreasi |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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