Correlation Between Metropolitan Kentjana and Pollux Properti
Can any of the company-specific risk be diversified away by investing in both Metropolitan Kentjana and Pollux Properti 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 Metropolitan Kentjana and Pollux Properti into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Metropolitan Kentjana Tbk and Pollux Properti Indonesia, you can compare the effects of market volatilities on Metropolitan Kentjana and Pollux Properti 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 Metropolitan Kentjana with a short position of Pollux Properti. Check out your portfolio center. Please also check ongoing floating volatility patterns of Metropolitan Kentjana and Pollux Properti.
Diversification Opportunities for Metropolitan Kentjana and Pollux Properti
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Metropolitan and Pollux is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Metropolitan Kentjana Tbk and Pollux Properti Indonesia in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Pollux Properti Indonesia and Metropolitan Kentjana 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 Metropolitan Kentjana Tbk are associated (or correlated) with Pollux Properti. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Pollux Properti Indonesia has no effect on the direction of Metropolitan Kentjana i.e., Metropolitan Kentjana and Pollux Properti go up and down completely randomly.
Pair Corralation between Metropolitan Kentjana and Pollux Properti
If you would invest 11,200 in Pollux Properti Indonesia on September 6, 2024 and sell it today you would earn a total of 0.00 from holding Pollux Properti Indonesia or generate 0.0% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 98.41% |
Values | Daily Returns |
Metropolitan Kentjana Tbk vs. Pollux Properti Indonesia
Performance |
Timeline |
Metropolitan Kentjana Tbk |
Pollux Properti Indonesia |
Metropolitan Kentjana and Pollux Properti Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Metropolitan Kentjana and Pollux Properti
The main advantage of trading using opposite Metropolitan Kentjana and Pollux Properti positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Metropolitan Kentjana position performs unexpectedly, Pollux Properti 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 Pollux Properti will offset losses from the drop in Pollux Properti's long position.Metropolitan Kentjana vs. Jaya Real Property | Metropolitan Kentjana vs. Metropolitan Land Tbk | Metropolitan Kentjana vs. Duta Pertiwi Tbk | Metropolitan Kentjana vs. Indonesia Prima Property |
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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 Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
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