Correlation Between Hotel Sahid and Sri Rejeki
Can any of the company-specific risk be diversified away by investing in both Hotel Sahid and Sri Rejeki 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 Hotel Sahid and Sri Rejeki into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Hotel Sahid Jaya and Sri Rejeki IsmanPT, you can compare the effects of market volatilities on Hotel Sahid and Sri Rejeki 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 Hotel Sahid with a short position of Sri Rejeki. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hotel Sahid and Sri Rejeki.
Diversification Opportunities for Hotel Sahid and Sri Rejeki
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Hotel and Sri is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Hotel Sahid Jaya and Sri Rejeki IsmanPT in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sri Rejeki IsmanPT and Hotel Sahid 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 Hotel Sahid Jaya are associated (or correlated) with Sri Rejeki. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sri Rejeki IsmanPT has no effect on the direction of Hotel Sahid i.e., Hotel Sahid and Sri Rejeki go up and down completely randomly.
Pair Corralation between Hotel Sahid and Sri Rejeki
If you would invest 14,600 in Sri Rejeki IsmanPT on January 5, 2025 and sell it today you would earn a total of 0.00 from holding Sri Rejeki IsmanPT 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 |
Hotel Sahid Jaya vs. Sri Rejeki IsmanPT
Performance |
| Timeline |
| Hotel Sahid Jaya |
| Sri Rejeki IsmanPT |
Hotel Sahid and Sri Rejeki Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hotel Sahid and Sri Rejeki
The main advantage of trading using opposite Hotel Sahid and Sri Rejeki positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hotel Sahid position performs unexpectedly, Sri Rejeki 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 Sri Rejeki will offset losses from the drop in Sri Rejeki's long position.| Hotel Sahid vs. Pembangunan Jaya Ancol | Hotel Sahid vs. Panorama Sentrawisata Tbk | Hotel Sahid vs. Sona Topas Tourism | Hotel Sahid vs. Millennium Pharmacon International |
| Sri Rejeki vs. Steel Pipe Industry | Sri Rejeki vs. Puradelta Lestari PT | Sri Rejeki vs. Jasa Armada Indonesia | Sri Rejeki vs. Integra Indocabinet 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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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