Correlation Between Indosterling Technomedia and Fks Multi
Can any of the company-specific risk be diversified away by investing in both Indosterling Technomedia and Fks Multi 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 Indosterling Technomedia and Fks Multi into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Indosterling Technomedia Tbk and Fks Multi Agro, you can compare the effects of market volatilities on Indosterling Technomedia and Fks Multi 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 Indosterling Technomedia with a short position of Fks Multi. Check out your portfolio center. Please also check ongoing floating volatility patterns of Indosterling Technomedia and Fks Multi.
Diversification Opportunities for Indosterling Technomedia and Fks Multi
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Indosterling and Fks is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Indosterling Technomedia Tbk and Fks Multi Agro in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Fks Multi Agro and Indosterling Technomedia 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 Indosterling Technomedia Tbk are associated (or correlated) with Fks Multi. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fks Multi Agro has no effect on the direction of Indosterling Technomedia i.e., Indosterling Technomedia and Fks Multi go up and down completely randomly.
Pair Corralation between Indosterling Technomedia and Fks Multi
If you would invest 1,035,000 in Fks Multi Agro on December 1, 2024 and sell it today you would earn a total of 0.00 from holding Fks Multi Agro 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 |
Indosterling Technomedia Tbk vs. Fks Multi Agro
Performance |
| Timeline |
| Indosterling Technomedia |
| Fks Multi Agro |
Indosterling Technomedia and Fks Multi Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Indosterling Technomedia and Fks Multi
The main advantage of trading using opposite Indosterling Technomedia and Fks Multi positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Indosterling Technomedia position performs unexpectedly, Fks Multi 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 Fks Multi will offset losses from the drop in Fks Multi's long position.| Indosterling Technomedia vs. Multipolar Technology Tbk | Indosterling Technomedia vs. Digital Mediatama Maxima | Indosterling Technomedia vs. M Cash Integrasi | Indosterling Technomedia vs. NFC Indonesia PT |
| Fks Multi vs. Enseval Putra Megatrading | Fks Multi vs. Fast Food Indonesia | Fks Multi vs. Gema Grahasarana Tbk | Fks Multi vs. Colorpak Indonesia 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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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