Correlation Between Walker Dunlop and Ictsi Jasa
Can any of the company-specific risk be diversified away by investing in both Walker Dunlop and Ictsi Jasa 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 Ictsi Jasa into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Walker Dunlop and Ictsi Jasa Prima, you can compare the effects of market volatilities on Walker Dunlop and Ictsi Jasa 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 Ictsi Jasa. Check out your portfolio center. Please also check ongoing floating volatility patterns of Walker Dunlop and Ictsi Jasa.
Diversification Opportunities for Walker Dunlop and Ictsi Jasa
-0.59 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Walker and Ictsi is -0.59. Overlapping area represents the amount of risk that can be diversified away by holding Walker Dunlop and Ictsi Jasa Prima in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ictsi Jasa 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 Ictsi Jasa. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ictsi Jasa Prima has no effect on the direction of Walker Dunlop i.e., Walker Dunlop and Ictsi Jasa go up and down completely randomly.
Pair Corralation between Walker Dunlop and Ictsi Jasa
Allowing for the 90-day total investment horizon Walker Dunlop is expected to generate 13.45 times less return on investment than Ictsi Jasa. But when comparing it to its historical volatility, Walker Dunlop is 4.81 times less risky than Ictsi Jasa. It trades about 0.1 of its potential returns per unit of risk. Ictsi Jasa Prima is currently generating about 0.27 of returns per unit of risk over similar time horizon. If you would invest 374,000 in Ictsi Jasa Prima on September 2, 2024 and sell it today you would earn a total of 158,500 from holding Ictsi Jasa Prima or generate 42.38% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Walker Dunlop vs. Ictsi Jasa Prima
Performance |
| Timeline |
| Walker Dunlop |
| Ictsi Jasa Prima |
Walker Dunlop and Ictsi Jasa Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Walker Dunlop and Ictsi Jasa
The main advantage of trading using opposite Walker Dunlop and Ictsi Jasa positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Walker Dunlop position performs unexpectedly, Ictsi Jasa 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 Ictsi Jasa will offset losses from the drop in Ictsi Jasa'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 |
| Ictsi Jasa vs. Kabelindo Murni Tbk | Ictsi Jasa vs. Jembo Cable | Ictsi Jasa vs. Kedaung Indah Can | Ictsi Jasa vs. Kedawung Setia Industrial |
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 Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
Other Complementary Tools
| Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios | |
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| Insider Screener Find insiders across different sectors to evaluate their impact on performance | |
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators | |
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance |