Correlation Between PT Astra and Mobile Lads

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Can any of the company-specific risk be diversified away by investing in both PT Astra and Mobile Lads 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 Astra and Mobile Lads into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between PT Astra International and Mobile Lads Corp, you can compare the effects of market volatilities on PT Astra and Mobile Lads 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 Astra with a short position of Mobile Lads. Check out your portfolio center. Please also check ongoing floating volatility patterns of PT Astra and Mobile Lads.

Diversification Opportunities for PT Astra and Mobile Lads

0.95
  Correlation Coefficient

Almost no diversification

The 3 months correlation between PTAIF and Mobile is 0.95. Overlapping area represents the amount of risk that can be diversified away by holding PT Astra International and Mobile Lads Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mobile Lads Corp and PT Astra 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 Astra International are associated (or correlated) with Mobile Lads. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mobile Lads Corp has no effect on the direction of PT Astra i.e., PT Astra and Mobile Lads go up and down completely randomly.

Pair Corralation between PT Astra and Mobile Lads

If you would invest  27.00  in PT Astra International on November 4, 2024 and sell it today you would earn a total of  3.00  from holding PT Astra International or generate 11.11% return on investment over 90 days.
Time Period3 Months [change]
DirectionMoves Together 
StrengthVery Strong
Accuracy90.91%
ValuesDaily Returns

PT Astra International  vs.  Mobile Lads Corp

 Performance 
       Timeline  
PT Astra International 

Risk-Adjusted Performance

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Weak
 
Strong
Very Weak
Over the last 90 days PT Astra International has generated negative risk-adjusted returns adding no value to investors with long positions. Despite fragile performance in the last few months, the Stock's forward indicators remain nearly stable which may send shares a bit higher in March 2025. The current disturbance may also be a sign of long-run up-swing for the company stockholders.
Mobile Lads Corp 

Risk-Adjusted Performance

0 of 100

 
Weak
 
Strong
Very Weak
Over the last 90 days Mobile Lads Corp has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of uncertain performance in the last few months, the Stock's fundamental drivers remain very healthy which may send shares a bit higher in March 2025. The recent disarray may also be a sign of long period up-swing for the firm investors.

PT Astra and Mobile Lads Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with PT Astra and Mobile Lads

The main advantage of trading using opposite PT Astra and Mobile Lads positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if PT Astra position performs unexpectedly, Mobile Lads 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 Mobile Lads will offset losses from the drop in Mobile Lads' long position.
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The idea behind PT Astra International and Mobile Lads Corp pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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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 CEOs Directory module to screen CEOs from public companies around the world.

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