Correlation Between Indosterling Technomedia and Greenwood Sejahtera
Can any of the company-specific risk be diversified away by investing in both Indosterling Technomedia and Greenwood Sejahtera 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 Greenwood Sejahtera 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 Greenwood Sejahtera Tbk, you can compare the effects of market volatilities on Indosterling Technomedia and Greenwood Sejahtera 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 Greenwood Sejahtera. Check out your portfolio center. Please also check ongoing floating volatility patterns of Indosterling Technomedia and Greenwood Sejahtera.
Diversification Opportunities for Indosterling Technomedia and Greenwood Sejahtera
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Indosterling and Greenwood is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Indosterling Technomedia Tbk and Greenwood Sejahtera Tbk in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Greenwood Sejahtera Tbk 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 Greenwood Sejahtera. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Greenwood Sejahtera Tbk has no effect on the direction of Indosterling Technomedia i.e., Indosterling Technomedia and Greenwood Sejahtera go up and down completely randomly.
Pair Corralation between Indosterling Technomedia and Greenwood Sejahtera
If you would invest 5,000 in Indosterling Technomedia Tbk on September 2, 2024 and sell it today you would earn a total of 0.00 from holding Indosterling Technomedia Tbk or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
Indosterling Technomedia Tbk vs. Greenwood Sejahtera Tbk
Performance |
| Timeline |
| Indosterling Technomedia |
| Greenwood Sejahtera Tbk |
Indosterling Technomedia and Greenwood Sejahtera Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Indosterling Technomedia and Greenwood Sejahtera
The main advantage of trading using opposite Indosterling Technomedia and Greenwood Sejahtera positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Indosterling Technomedia position performs unexpectedly, Greenwood Sejahtera 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 Greenwood Sejahtera will offset losses from the drop in Greenwood Sejahtera'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 |
| Greenwood Sejahtera vs. Lippo Karawaci Tbk | Greenwood Sejahtera vs. Mitra Pinasthika Mustika | Greenwood Sejahtera vs. Jakarta Int Hotels | Greenwood Sejahtera vs. Indosterling Technomedia 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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
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