Correlation Between Indosterling Technomedia and Trisula International
Can any of the company-specific risk be diversified away by investing in both Indosterling Technomedia and Trisula International 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 Trisula International 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 Trisula International Tbk, you can compare the effects of market volatilities on Indosterling Technomedia and Trisula International 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 Trisula International. Check out your portfolio center. Please also check ongoing floating volatility patterns of Indosterling Technomedia and Trisula International.
Diversification Opportunities for Indosterling Technomedia and Trisula International
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Indosterling and Trisula is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Indosterling Technomedia Tbk and Trisula International Tbk in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Trisula International 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 Trisula International. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Trisula International Tbk has no effect on the direction of Indosterling Technomedia i.e., Indosterling Technomedia and Trisula International go up and down completely randomly.
Pair Corralation between Indosterling Technomedia and Trisula International
If you would invest 17,200 in Trisula International Tbk on September 13, 2024 and sell it today you would earn a total of 600.00 from holding Trisula International Tbk or generate 3.49% 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. Trisula International Tbk
Performance |
| Timeline |
| Indosterling Technomedia |
| Trisula International Tbk |
Indosterling Technomedia and Trisula International Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Indosterling Technomedia and Trisula International
The main advantage of trading using opposite Indosterling Technomedia and Trisula International positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Indosterling Technomedia position performs unexpectedly, Trisula International 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 Trisula International will offset losses from the drop in Trisula International'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 |
| Trisula International vs. Pembangunan Graha Lestari | Trisula International vs. Pembangunan Jaya Ancol | Trisula International vs. Hotel Sahid Jaya | Trisula International vs. Mitrabara Adiperdana PT |
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 Portfolio Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
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