Correlation Between Walker Dunlop and Sinergi Inti
Can any of the company-specific risk be diversified away by investing in both Walker Dunlop and Sinergi Inti 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 Walker Dunlop and Sinergi Inti into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Walker Dunlop and Sinergi Inti Plastindo, you can compare the effects of market volatilities on Walker Dunlop and Sinergi Inti 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 Walker Dunlop with a short position of Sinergi Inti. Check out your portfolio center. Please also check ongoing floating volatility patterns of Walker Dunlop and Sinergi Inti.
Diversification Opportunities for Walker Dunlop and Sinergi Inti
-0.24 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Walker and Sinergi is -0.24. Overlapping area represents the amount of risk that can be diversified away by holding Walker Dunlop and Sinergi Inti Plastindo in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sinergi Inti Plastindo and Walker Dunlop 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 Walker Dunlop are associated (or correlated) with Sinergi Inti. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sinergi Inti Plastindo has no effect on the direction of Walker Dunlop i.e., Walker Dunlop and Sinergi Inti go up and down completely randomly.
Pair Corralation between Walker Dunlop and Sinergi Inti
Allowing for the 90-day total investment horizon Walker Dunlop is expected to generate 0.6 times more return on investment than Sinergi Inti. However, Walker Dunlop is 1.68 times less risky than Sinergi Inti. It trades about 0.02 of its potential returns per unit of risk. Sinergi Inti Plastindo is currently generating about -0.3 per unit of risk. If you would invest 11,138 in Walker Dunlop on August 28, 2024 and sell it today you would earn a total of 111.00 from holding Walker Dunlop or generate 1.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Walker Dunlop vs. Sinergi Inti Plastindo
Performance |
| Timeline |
| Walker Dunlop |
| Sinergi Inti Plastindo |
Walker Dunlop and Sinergi Inti Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Walker Dunlop and Sinergi Inti
The main advantage of trading using opposite Walker Dunlop and Sinergi Inti positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Walker Dunlop position performs unexpectedly, Sinergi Inti 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 Sinergi Inti will offset losses from the drop in Sinergi Inti's long position.| Walker Dunlop vs. Mr Cooper Group | Walker Dunlop vs. Velocity Financial Llc | Walker Dunlop vs. Security National Financial | Walker Dunlop vs. Encore Capital Group |
| Sinergi Inti vs. Lotte Chemical Titan | Sinergi Inti vs. Agro Yasa Lestari | Sinergi Inti vs. Era Mandiri Cemerlang | Sinergi Inti vs. Jasnita Telekomindo 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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