Correlation Between Sri Rejeki and PT Jobubu
Can any of the company-specific risk be diversified away by investing in both Sri Rejeki and PT Jobubu 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 Sri Rejeki and PT Jobubu into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Sri Rejeki IsmanPT and PT Jobubu Jarum, you can compare the effects of market volatilities on Sri Rejeki and PT Jobubu 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 Sri Rejeki with a short position of PT Jobubu. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sri Rejeki and PT Jobubu.
Diversification Opportunities for Sri Rejeki and PT Jobubu
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Sri and BEER is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Sri Rejeki IsmanPT and PT Jobubu Jarum in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PT Jobubu Jarum and Sri Rejeki 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 Sri Rejeki IsmanPT are associated (or correlated) with PT Jobubu. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PT Jobubu Jarum has no effect on the direction of Sri Rejeki i.e., Sri Rejeki and PT Jobubu go up and down completely randomly.
Pair Corralation between Sri Rejeki and PT Jobubu
If you would invest 14,600 in Sri Rejeki IsmanPT on August 27, 2024 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 | 99.33% |
| Values | Daily Returns |
Sri Rejeki IsmanPT vs. PT Jobubu Jarum
Performance |
| Timeline |
| Sri Rejeki IsmanPT |
| PT Jobubu Jarum |
Sri Rejeki and PT Jobubu Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sri Rejeki and PT Jobubu
The main advantage of trading using opposite Sri Rejeki and PT Jobubu positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sri Rejeki position performs unexpectedly, PT Jobubu 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 PT Jobubu will offset losses from the drop in PT Jobubu's long position.| Sri Rejeki vs. Metro Healthcare Indonesia | Sri Rejeki vs. City Retail Developments | Sri Rejeki vs. Ashmore Asset Management | Sri Rejeki vs. PT Indofood Sukses |
| PT Jobubu vs. Bank Central Asia | PT Jobubu vs. Bank Rakyat Indonesia | PT Jobubu vs. Bayan Resources Tbk | PT Jobubu vs. Bank Mandiri Persero |
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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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