Correlation Between Integra Indocabinet and PT Indo
Can any of the company-specific risk be diversified away by investing in both Integra Indocabinet and PT Indo 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 Integra Indocabinet and PT Indo into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Integra Indocabinet Tbk and PT Indo Boga, you can compare the effects of market volatilities on Integra Indocabinet and PT Indo 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 Integra Indocabinet with a short position of PT Indo. Check out your portfolio center. Please also check ongoing floating volatility patterns of Integra Indocabinet and PT Indo.
Diversification Opportunities for Integra Indocabinet and PT Indo
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Integra and IBOS is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Integra Indocabinet Tbk and PT Indo Boga in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PT Indo Boga and Integra Indocabinet 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 Integra Indocabinet Tbk are associated (or correlated) with PT Indo. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PT Indo Boga has no effect on the direction of Integra Indocabinet i.e., Integra Indocabinet and PT Indo go up and down completely randomly.
Pair Corralation between Integra Indocabinet and PT Indo
If you would invest 0.00 in PT Indo Boga on January 19, 2025 and sell it today you would earn a total of 0.00 from holding PT Indo Boga or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 6.67% |
| Values | Daily Returns |
Integra Indocabinet Tbk vs. PT Indo Boga
Performance |
| Timeline |
| Integra Indocabinet Tbk |
| PT Indo Boga |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Integra Indocabinet and PT Indo Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Integra Indocabinet and PT Indo
The main advantage of trading using opposite Integra Indocabinet and PT Indo positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Integra Indocabinet position performs unexpectedly, PT Indo 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 PT Indo will offset losses from the drop in PT Indo's long position.| Integra Indocabinet vs. Buyung Poetra Sembada | Integra Indocabinet vs. Erajaya Swasembada Tbk | Integra Indocabinet vs. Sariguna Primatirta PT | Integra Indocabinet vs. Puradelta Lestari PT |
| PT Indo vs. Indo Pureco Pratama | PT Indo vs. Champ Resto Indonesia | PT Indo vs. Bintang Samudera Mandiri | PT Indo vs. Autopedia Sukses Lestari |
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 Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
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