Correlation Between Walker Dunlop and Perdana Gapura
Can any of the company-specific risk be diversified away by investing in both Walker Dunlop and Perdana Gapura 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 Perdana Gapura into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Walker Dunlop and Perdana Gapura Prima, you can compare the effects of market volatilities on Walker Dunlop and Perdana Gapura 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 Perdana Gapura. Check out your portfolio center. Please also check ongoing floating volatility patterns of Walker Dunlop and Perdana Gapura.
Diversification Opportunities for Walker Dunlop and Perdana Gapura
0.58 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Walker and Perdana is 0.58. Overlapping area represents the amount of risk that can be diversified away by holding Walker Dunlop and Perdana Gapura Prima in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Perdana Gapura Prima 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 Perdana Gapura. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Perdana Gapura Prima has no effect on the direction of Walker Dunlop i.e., Walker Dunlop and Perdana Gapura go up and down completely randomly.
Pair Corralation between Walker Dunlop and Perdana Gapura
Allowing for the 90-day total investment horizon Walker Dunlop is expected to under-perform the Perdana Gapura. In addition to that, Walker Dunlop is 1.2 times more volatile than Perdana Gapura Prima. It trades about -0.14 of its total potential returns per unit of risk. Perdana Gapura Prima is currently generating about 0.08 per unit of volatility. If you would invest 8,200 in Perdana Gapura Prima on January 15, 2025 and sell it today you would earn a total of 400.00 from holding Perdana Gapura Prima or generate 4.88% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 85.37% |
| Values | Daily Returns |
Walker Dunlop vs. Perdana Gapura Prima
Performance |
| Timeline |
| Walker Dunlop |
| Perdana Gapura Prima |
Walker Dunlop and Perdana Gapura Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Walker Dunlop and Perdana Gapura
The main advantage of trading using opposite Walker Dunlop and Perdana Gapura positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Walker Dunlop position performs unexpectedly, Perdana Gapura 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 Perdana Gapura will offset losses from the drop in Perdana Gapura'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 |
| Perdana Gapura vs. Lippo Cikarang Tbk | Perdana Gapura vs. Duta Pertiwi Tbk | Perdana Gapura vs. Intiland Development Tbk | Perdana Gapura vs. Mnc Land 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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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