Correlation Between Totalindo Eka and Aesler Grup
Can any of the company-specific risk be diversified away by investing in both Totalindo Eka and Aesler Grup 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 Totalindo Eka and Aesler Grup into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Totalindo Eka Persada and Aesler Grup Internasional, you can compare the effects of market volatilities on Totalindo Eka and Aesler Grup 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 Totalindo Eka with a short position of Aesler Grup. Check out your portfolio center. Please also check ongoing floating volatility patterns of Totalindo Eka and Aesler Grup.
Diversification Opportunities for Totalindo Eka and Aesler Grup
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Totalindo and Aesler is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Totalindo Eka Persada and Aesler Grup Internasional in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Aesler Grup Internasional and Totalindo Eka 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 Totalindo Eka Persada are associated (or correlated) with Aesler Grup. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Aesler Grup Internasional has no effect on the direction of Totalindo Eka i.e., Totalindo Eka and Aesler Grup go up and down completely randomly.
Pair Corralation between Totalindo Eka and Aesler Grup
If you would invest 63,500 in Aesler Grup Internasional on November 3, 2024 and sell it today you would earn a total of 118,000 from holding Aesler Grup Internasional or generate 185.83% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Totalindo Eka Persada vs. Aesler Grup Internasional
Performance |
| Timeline |
| Totalindo Eka Persada |
| Aesler Grup Internasional |
Totalindo Eka and Aesler Grup Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Totalindo Eka and Aesler Grup
The main advantage of trading using opposite Totalindo Eka and Aesler Grup positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Totalindo Eka position performs unexpectedly, Aesler Grup 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 Aesler Grup will offset losses from the drop in Aesler Grup's long position.| Totalindo Eka vs. Metro Healthcare Indonesia | Totalindo Eka vs. Siloam International Hospitals | Totalindo Eka vs. Indo Acidatama Tbk | Totalindo Eka vs. PT Data Sinergitama |
| Aesler Grup vs. Indo Acidatama Tbk | Aesler Grup vs. Dharma Polimetal Tbk | Aesler Grup vs. Humpuss Intermoda Transportasi | Aesler Grup vs. Hotel Sahid Jaya |
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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