Correlation Between Indosterling Technomedia and Map Boga
Can any of the company-specific risk be diversified away by investing in both Indosterling Technomedia and Map Boga 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 Map Boga 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 Map Boga Adiperkasa, you can compare the effects of market volatilities on Indosterling Technomedia and Map Boga 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 Map Boga. Check out your portfolio center. Please also check ongoing floating volatility patterns of Indosterling Technomedia and Map Boga.
Diversification Opportunities for Indosterling Technomedia and Map Boga
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Indosterling and Map is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Indosterling Technomedia Tbk and Map Boga Adiperkasa in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Map Boga Adiperkasa 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 Map Boga. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Map Boga Adiperkasa has no effect on the direction of Indosterling Technomedia i.e., Indosterling Technomedia and Map Boga go up and down completely randomly.
Pair Corralation between Indosterling Technomedia and Map Boga
If you would invest 5,000 in Indosterling Technomedia Tbk on September 3, 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 | 99.57% |
| Values | Daily Returns |
Indosterling Technomedia Tbk vs. Map Boga Adiperkasa
Performance |
| Timeline |
| Indosterling Technomedia |
| Map Boga Adiperkasa |
Indosterling Technomedia and Map Boga Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Indosterling Technomedia and Map Boga
The main advantage of trading using opposite Indosterling Technomedia and Map Boga positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Indosterling Technomedia position performs unexpectedly, Map Boga 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 Map Boga will offset losses from the drop in Map Boga's long position.| Indosterling Technomedia vs. Indointernet Tbk PT | Indosterling Technomedia vs. Multipolar Technology Tbk | Indosterling Technomedia vs. PT Data Sinergitama | Indosterling Technomedia vs. PT Techno9 Indonesia |
| Map Boga vs. Mitra Pinasthika Mustika | Map Boga vs. Jakarta Int Hotels | Map Boga vs. Asuransi Harta Aman | Map Boga 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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
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