Correlation Between Sunindo Adipersada and PT Boston
Can any of the company-specific risk be diversified away by investing in both Sunindo Adipersada and PT Boston 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 Sunindo Adipersada and PT Boston into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Sunindo Adipersada Tbk and PT Boston Furniture, you can compare the effects of market volatilities on Sunindo Adipersada and PT Boston 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 Sunindo Adipersada with a short position of PT Boston. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sunindo Adipersada and PT Boston.
Diversification Opportunities for Sunindo Adipersada and PT Boston
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Sunindo and SOFA is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Sunindo Adipersada Tbk and PT Boston Furniture in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PT Boston Furniture and Sunindo Adipersada 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 Sunindo Adipersada Tbk are associated (or correlated) with PT Boston. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PT Boston Furniture has no effect on the direction of Sunindo Adipersada i.e., Sunindo Adipersada and PT Boston go up and down completely randomly.
Pair Corralation between Sunindo Adipersada and PT Boston
If you would invest 1,900 in PT Boston Furniture on November 2, 2024 and sell it today you would earn a total of 2,300 from holding PT Boston Furniture or generate 121.05% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 98.25% |
| Values | Daily Returns |
Sunindo Adipersada Tbk vs. PT Boston Furniture
Performance |
| Timeline |
| Sunindo Adipersada Tbk |
| PT Boston Furniture |
Sunindo Adipersada and PT Boston Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sunindo Adipersada and PT Boston
The main advantage of trading using opposite Sunindo Adipersada and PT Boston positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sunindo Adipersada position performs unexpectedly, PT Boston 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 PT Boston will offset losses from the drop in PT Boston's long position.| Sunindo Adipersada vs. Guna Timur Raya | Sunindo Adipersada vs. Yelooo Integra Datanet | Sunindo Adipersada vs. Sinergi Inti Plastindo | Sunindo Adipersada vs. MNC Studios International |
| PT Boston vs. Pt Pradiksi Gunatama | PT Boston vs. Sunindo Adipersada Tbk | PT Boston vs. Planet Properindo Jaya | PT Boston vs. Pt Pakuan 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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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