Correlation Between Total Bangun and Totalindo Eka
Can any of the company-specific risk be diversified away by investing in both Total Bangun and Totalindo Eka 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 Total Bangun and Totalindo Eka into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Total Bangun Persada and Totalindo Eka Persada, you can compare the effects of market volatilities on Total Bangun and Totalindo Eka 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 Total Bangun with a short position of Totalindo Eka. Check out your portfolio center. Please also check ongoing floating volatility patterns of Total Bangun and Totalindo Eka.
Diversification Opportunities for Total Bangun and Totalindo Eka
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Total and Totalindo is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Total Bangun Persada and Totalindo Eka Persada in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Totalindo Eka Persada and Total Bangun 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 Total Bangun Persada are associated (or correlated) with Totalindo Eka. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Totalindo Eka Persada has no effect on the direction of Total Bangun i.e., Total Bangun and Totalindo Eka go up and down completely randomly.
Pair Corralation between Total Bangun and Totalindo Eka
If you would invest 100.00 in Totalindo Eka Persada on November 3, 2024 and sell it today you would earn a total of 0.00 from holding Totalindo Eka Persada or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 90.0% |
| Values | Daily Returns |
Total Bangun Persada vs. Totalindo Eka Persada
Performance |
| Timeline |
| Total Bangun Persada |
| Totalindo Eka Persada |
Total Bangun and Totalindo Eka Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Total Bangun and Totalindo Eka
The main advantage of trading using opposite Total Bangun and Totalindo Eka positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Total Bangun position performs unexpectedly, Totalindo Eka 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 Totalindo Eka will offset losses from the drop in Totalindo Eka's long position.| Total Bangun vs. Kawasan Industri Jababeka | Total Bangun vs. Adhi Karya Persero | Total Bangun vs. Ciputra Development Tbk | Total Bangun vs. Solusi Bangun Indonesia |
| Totalindo Eka vs. Metro Healthcare Indonesia | Totalindo Eka vs. Siloam International Hospitals | Totalindo Eka vs. Indo Acidatama Tbk | Totalindo Eka vs. PT Data Sinergitama |
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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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