Correlation Between Victoria Insurance and IDX 30
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By analyzing existing cross correlation between Victoria Insurance Tbk and IDX 30 Jakarta, you can compare the effects of market volatilities on Victoria Insurance and IDX 30 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 Victoria Insurance with a short position of IDX 30. Check out your portfolio center. Please also check ongoing floating volatility patterns of Victoria Insurance and IDX 30.
Diversification Opportunities for Victoria Insurance and IDX 30
0.46 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Victoria and IDX is 0.46. Overlapping area represents the amount of risk that can be diversified away by holding Victoria Insurance Tbk and IDX 30 Jakarta in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on IDX 30 Jakarta and Victoria Insurance 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 Victoria Insurance Tbk are associated (or correlated) with IDX 30. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of IDX 30 Jakarta has no effect on the direction of Victoria Insurance i.e., Victoria Insurance and IDX 30 go up and down completely randomly.
Pair Corralation between Victoria Insurance and IDX 30
Assuming the 90 days trading horizon Victoria Insurance Tbk is expected to generate 1.14 times more return on investment than IDX 30. However, Victoria Insurance is 1.14 times more volatile than IDX 30 Jakarta. It trades about -0.15 of its potential returns per unit of risk. IDX 30 Jakarta is currently generating about -0.28 per unit of risk. If you would invest 11,800 in Victoria Insurance Tbk on September 2, 2024 and sell it today you would lose (500.00) from holding Victoria Insurance Tbk or give up 4.24% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Victoria Insurance Tbk vs. IDX 30 Jakarta
Performance |
| Timeline |
Victoria Insurance and IDX 30 Volatility Contrast
Predicted Return Density |
| Returns |
Victoria Insurance Tbk
Pair trading matchups for Victoria Insurance
IDX 30 Jakarta
Pair trading matchups for IDX 30
Pair Trading with Victoria Insurance and IDX 30
The main advantage of trading using opposite Victoria Insurance and IDX 30 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Victoria Insurance position performs unexpectedly, IDX 30 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 IDX 30 will offset losses from the drop in IDX 30's long position.| Victoria Insurance vs. Victoria Investama Tbk | Victoria Insurance vs. Verena Multi Finance | Victoria Insurance vs. Asuransi Harta Aman | Victoria Insurance vs. Trust Finance Indonesia |
| IDX 30 vs. Ace Hardware Indonesia | IDX 30 vs. Alumindo Light Metal | IDX 30 vs. Metro Healthcare Indonesia | IDX 30 vs. PT Jobubu Jarum |
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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
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