Correlation Between Aesler Grup and Acset Indonusa
Can any of the company-specific risk be diversified away by investing in both Aesler Grup and Acset Indonusa 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 Aesler Grup and Acset Indonusa into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Aesler Grup Internasional and Acset Indonusa Tbk, you can compare the effects of market volatilities on Aesler Grup and Acset Indonusa 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 Aesler Grup with a short position of Acset Indonusa. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aesler Grup and Acset Indonusa.
Diversification Opportunities for Aesler Grup and Acset Indonusa
-0.68 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Aesler and Acset is -0.68. Overlapping area represents the amount of risk that can be diversified away by holding Aesler Grup Internasional and Acset Indonusa Tbk in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Acset Indonusa Tbk and Aesler Grup 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 Aesler Grup Internasional are associated (or correlated) with Acset Indonusa. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Acset Indonusa Tbk has no effect on the direction of Aesler Grup i.e., Aesler Grup and Acset Indonusa go up and down completely randomly.
Pair Corralation between Aesler Grup and Acset Indonusa
If you would invest 8,900 in Acset Indonusa Tbk on November 3, 2024 and sell it today you would earn a total of 0.00 from holding Acset Indonusa Tbk or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 94.74% |
| Values | Daily Returns |
Aesler Grup Internasional vs. Acset Indonusa Tbk
Performance |
| Timeline |
| Aesler Grup Internasional |
| Acset Indonusa Tbk |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Aesler Grup and Acset Indonusa Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Aesler Grup and Acset Indonusa
The main advantage of trading using opposite Aesler Grup and Acset Indonusa positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aesler Grup position performs unexpectedly, Acset Indonusa 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 Acset Indonusa will offset losses from the drop in Acset Indonusa's long position.| Aesler Grup vs. Indo Acidatama Tbk | Aesler Grup vs. Dharma Polimetal Tbk | Aesler Grup vs. Humpuss Intermoda Transportasi | Aesler Grup vs. Hotel Sahid Jaya |
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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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
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