Correlation Between Sillo Maritime and Super Energy
Can any of the company-specific risk be diversified away by investing in both Sillo Maritime and Super Energy 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 Sillo Maritime and Super Energy into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Sillo Maritime Perdana and Super Energy Tbk, you can compare the effects of market volatilities on Sillo Maritime and Super Energy 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 Sillo Maritime with a short position of Super Energy. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sillo Maritime and Super Energy.
Diversification Opportunities for Sillo Maritime and Super Energy
-0.24 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Sillo and Super is -0.24. Overlapping area represents the amount of risk that can be diversified away by holding Sillo Maritime Perdana and Super Energy Tbk in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Super Energy Tbk and Sillo Maritime 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 Sillo Maritime Perdana are associated (or correlated) with Super Energy. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Super Energy Tbk has no effect on the direction of Sillo Maritime i.e., Sillo Maritime and Super Energy go up and down completely randomly.
Pair Corralation between Sillo Maritime and Super Energy
Assuming the 90 days trading horizon Sillo Maritime Perdana is expected to under-perform the Super Energy. But the stock apears to be less risky and, when comparing its historical volatility, Sillo Maritime Perdana is 1.09 times less risky than Super Energy. The stock trades about -0.03 of its potential returns per unit of risk. The Super Energy Tbk is currently generating about 0.0 of returns per unit of risk over similar time horizon. If you would invest 231,000 in Super Energy Tbk on November 27, 2024 and sell it today you would lose (19,000) from holding Super Energy Tbk or give up 8.23% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sillo Maritime Perdana vs. Super Energy Tbk
Performance |
| Timeline |
| Sillo Maritime Perdana |
| Super Energy Tbk |
Sillo Maritime and Super Energy Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sillo Maritime and Super Energy
The main advantage of trading using opposite Sillo Maritime and Super Energy positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sillo Maritime position performs unexpectedly, Super Energy 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 Super Energy will offset losses from the drop in Super Energy's long position.| Sillo Maritime vs. Soechi Lines Tbk | Sillo Maritime vs. Samudera Indonesia Tbk | Sillo Maritime vs. Pelita Samudera Shipping | Sillo Maritime vs. Buana Listya Tama |
| Super Energy vs. Transcoal Pacific Tbk | Super Energy vs. Sillo Maritime Perdana | Super Energy vs. Pollux Properti Indonesia | Super Energy vs. Mahkota Group 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 Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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