Correlation Between Aesler Grup and DMS Propertindo
Can any of the company-specific risk be diversified away by investing in both Aesler Grup and DMS Propertindo 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 DMS Propertindo 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 DMS Propertindo Tbk, you can compare the effects of market volatilities on Aesler Grup and DMS Propertindo 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 DMS Propertindo. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aesler Grup and DMS Propertindo.
Diversification Opportunities for Aesler Grup and DMS Propertindo
-0.23 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Aesler and DMS is -0.23. Overlapping area represents the amount of risk that can be diversified away by holding Aesler Grup Internasional and DMS Propertindo Tbk in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on DMS Propertindo 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 DMS Propertindo. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DMS Propertindo Tbk has no effect on the direction of Aesler Grup i.e., Aesler Grup and DMS Propertindo go up and down completely randomly.
Pair Corralation between Aesler Grup and DMS Propertindo
If you would invest 181,500 in Aesler Grup Internasional on November 3, 2024 and sell it today you would earn a total of 0.00 from holding Aesler Grup Internasional or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 90.0% |
| Values | Daily Returns |
Aesler Grup Internasional vs. DMS Propertindo Tbk
Performance |
| Timeline |
| Aesler Grup Internasional |
| DMS Propertindo Tbk |
Aesler Grup and DMS Propertindo Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Aesler Grup and DMS Propertindo
The main advantage of trading using opposite Aesler Grup and DMS Propertindo positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aesler Grup position performs unexpectedly, DMS Propertindo 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 DMS Propertindo will offset losses from the drop in DMS Propertindo's long position.| Aesler Grup vs. Trinitan Metals and | Aesler Grup vs. Dyandra Media International | Aesler Grup vs. Intermedia Capital Tbk | Aesler Grup vs. Hoffmen Cleanindo |
| DMS Propertindo vs. Bima Sakti Pertiwi | DMS Propertindo vs. Karya Bersama Anugerah | DMS Propertindo vs. Pollux Properti Indonesia | DMS Propertindo vs. Surya Permata Andalan |
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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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