Correlation Between Satria Antaran and Dewata Freight
Can any of the company-specific risk be diversified away by investing in both Satria Antaran and Dewata Freight 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 Satria Antaran and Dewata Freight into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Satria Antaran Prima and Dewata Freight International, you can compare the effects of market volatilities on Satria Antaran and Dewata Freight 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 Satria Antaran with a short position of Dewata Freight. Check out your portfolio center. Please also check ongoing floating volatility patterns of Satria Antaran and Dewata Freight.
Diversification Opportunities for Satria Antaran and Dewata Freight
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Satria and Dewata is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Satria Antaran Prima and Dewata Freight International in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dewata Freight Inter and Satria Antaran 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 Satria Antaran Prima are associated (or correlated) with Dewata Freight. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dewata Freight Inter has no effect on the direction of Satria Antaran i.e., Satria Antaran and Dewata Freight go up and down completely randomly.
Pair Corralation between Satria Antaran and Dewata Freight
If you would invest 269,000 in Satria Antaran Prima on August 28, 2024 and sell it today you would earn a total of 6,000 from holding Satria Antaran Prima or generate 2.23% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Satria Antaran Prima vs. Dewata Freight International
Performance |
| Timeline |
| Satria Antaran Prima |
| Dewata Freight Inter |
Satria Antaran and Dewata Freight Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Satria Antaran and Dewata Freight
The main advantage of trading using opposite Satria Antaran and Dewata Freight positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Satria Antaran position performs unexpectedly, Dewata Freight 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 Dewata Freight will offset losses from the drop in Dewata Freight's long position.| Satria Antaran vs. Guna Timur Raya | Satria Antaran vs. Transcoal Pacific Tbk | Satria Antaran vs. Pelayaran Nelly Dwi | Satria Antaran vs. Yelooo Integra Datanet |
| Dewata Freight vs. Borneo Olah Sarana | Dewata Freight vs. Alfa Energi Investama | Dewata Freight vs. HK Metals Utama | Dewata Freight vs. Jasnita Telekomindo Tbk |
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 Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
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