Correlation Between Satria Mega and Personel Alih
Can any of the company-specific risk be diversified away by investing in both Satria Mega and Personel Alih 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 Mega and Personel Alih into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Satria Mega Kencana and Personel Alih Daya, you can compare the effects of market volatilities on Satria Mega and Personel Alih 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 Mega with a short position of Personel Alih. Check out your portfolio center. Please also check ongoing floating volatility patterns of Satria Mega and Personel Alih.
Diversification Opportunities for Satria Mega and Personel Alih
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Satria and Personel is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Satria Mega Kencana and Personel Alih Daya in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Personel Alih Daya and Satria Mega 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 Mega Kencana are associated (or correlated) with Personel Alih. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Personel Alih Daya has no effect on the direction of Satria Mega i.e., Satria Mega and Personel Alih go up and down completely randomly.
Pair Corralation between Satria Mega and Personel Alih
If you would invest 29,000 in Satria Mega Kencana on November 28, 2024 and sell it today you would earn a total of 2,200 from holding Satria Mega Kencana or generate 7.59% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Satria Mega Kencana vs. Personel Alih Daya
Performance |
| Timeline |
| Satria Mega Kencana |
| Personel Alih Daya |
Risk-Adjusted Performance
Insignificant
Weak | Strong |
Satria Mega and Personel Alih Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Satria Mega and Personel Alih
The main advantage of trading using opposite Satria Mega and Personel Alih positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Satria Mega position performs unexpectedly, Personel Alih 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 Personel Alih will offset losses from the drop in Personel Alih's long position.| Satria Mega vs. Shield On Service | Satria Mega vs. MNC Studios International | Satria Mega vs. Royal Prima PT | Satria Mega vs. Sanurhasta Mitra PT |
| Personel Alih vs. Optima Prima Metal | Personel Alih vs. Inocycle Technology Tbk | Personel Alih vs. Eastparc Hotel Tbk | Personel Alih vs. Humpuss Intermoda Transportasi |
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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
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