Correlation Between Rimo International and PT Winner
Can any of the company-specific risk be diversified away by investing in both Rimo International and PT Winner 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 Rimo International and PT Winner into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Rimo International Lestari and PT Winner Nusantara, you can compare the effects of market volatilities on Rimo International and PT Winner 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 Rimo International with a short position of PT Winner. Check out your portfolio center. Please also check ongoing floating volatility patterns of Rimo International and PT Winner.
Diversification Opportunities for Rimo International and PT Winner
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Rimo and WINR is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Rimo International Lestari and PT Winner Nusantara in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PT Winner Nusantara and Rimo International 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 Rimo International Lestari are associated (or correlated) with PT Winner. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PT Winner Nusantara has no effect on the direction of Rimo International i.e., Rimo International and PT Winner go up and down completely randomly.
Pair Corralation between Rimo International and PT Winner
If you would invest 5,000 in Rimo International Lestari on October 25, 2024 and sell it today you would earn a total of 0.00 from holding Rimo International Lestari or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Rimo International Lestari vs. PT Winner Nusantara
Performance |
| Timeline |
| Rimo International |
| PT Winner Nusantara |
Rimo International and PT Winner Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Rimo International and PT Winner
The main advantage of trading using opposite Rimo International and PT Winner positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Rimo International position performs unexpectedly, PT Winner 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 Winner will offset losses from the drop in PT Winner's long position.| Rimo International vs. Eastparc Hotel Tbk | Rimo International vs. Bank Pembangunan Daerah | Rimo International vs. Diamond Food Indonesia | Rimo International vs. Protech Mitra Perkasa |
| PT Winner vs. PT Hatten Bali | PT Winner vs. Metrodata Electronics Tbk | PT Winner vs. Panin Financial Tbk | PT Winner vs. Tera Data Indonusa |
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 Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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