Correlation Between Victoria Insurance and Trimegah Karya
Can any of the company-specific risk be diversified away by investing in both Victoria Insurance and Trimegah Karya 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 Victoria Insurance and Trimegah Karya into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Victoria Insurance Tbk and Trimegah Karya Pratama, you can compare the effects of market volatilities on Victoria Insurance and Trimegah Karya 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 Trimegah Karya. Check out your portfolio center. Please also check ongoing floating volatility patterns of Victoria Insurance and Trimegah Karya.
Diversification Opportunities for Victoria Insurance and Trimegah Karya
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Victoria and Trimegah is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Victoria Insurance Tbk and Trimegah Karya Pratama in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Trimegah Karya Pratama 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 Trimegah Karya. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Trimegah Karya Pratama has no effect on the direction of Victoria Insurance i.e., Victoria Insurance and Trimegah Karya go up and down completely randomly.
Pair Corralation between Victoria Insurance and Trimegah Karya
If you would invest 0.00 in Trimegah Karya Pratama on August 30, 2024 and sell it today you would earn a total of 0.00 from holding Trimegah Karya Pratama or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 1.59% |
| Values | Daily Returns |
Victoria Insurance Tbk vs. Trimegah Karya Pratama
Performance |
| Timeline |
| Victoria Insurance Tbk |
| Trimegah Karya Pratama |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Victoria Insurance and Trimegah Karya Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Victoria Insurance and Trimegah Karya
The main advantage of trading using opposite Victoria Insurance and Trimegah Karya positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Victoria Insurance position performs unexpectedly, Trimegah Karya 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 Trimegah Karya will offset losses from the drop in Trimegah Karya'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 |
| Trimegah Karya vs. Lippo General Insurance | Trimegah Karya vs. Trinitan Metals and | Trimegah Karya vs. Prima Alloy Steel | Trimegah Karya vs. Capital Financial Indonesia |
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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
Other Complementary Tools
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios | |
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital |