Correlation Between Rimo International and Pollux Investasi
Can any of the company-specific risk be diversified away by investing in both Rimo International and Pollux Investasi 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 Rimo International and Pollux Investasi into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Rimo International Lestari and Pollux Investasi Internasional, you can compare the effects of market volatilities on Rimo International and Pollux Investasi 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 Rimo International with a short position of Pollux Investasi. Check out your portfolio center. Please also check ongoing floating volatility patterns of Rimo International and Pollux Investasi.
Diversification Opportunities for Rimo International and Pollux Investasi
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Rimo and Pollux is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Rimo International Lestari and Pollux Investasi Internasional in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Pollux Investasi Int and Rimo International 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 Rimo International Lestari are associated (or correlated) with Pollux Investasi. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Pollux Investasi Int has no effect on the direction of Rimo International i.e., Rimo International and Pollux Investasi go up and down completely randomly.
Pair Corralation between Rimo International and Pollux Investasi
If you would invest 5,000 in Rimo International Lestari on October 25, 2024 and sell it today you would earn a total of 0.00 from holding Rimo International Lestari or generate 0.0% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
Rimo International Lestari vs. Pollux Investasi Internasional
Performance |
Timeline |
Rimo International |
Pollux Investasi Int |
Rimo International and Pollux Investasi Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Rimo International and Pollux Investasi
The main advantage of trading using opposite Rimo International and Pollux Investasi positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Rimo International position performs unexpectedly, Pollux Investasi 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 Investasi will offset losses from the drop in Pollux Investasi's long position.Rimo International vs. Eastparc Hotel Tbk | Rimo International vs. Bank Pembangunan Daerah | Rimo International vs. Diamond Food Indonesia | Rimo International vs. Protech Mitra Perkasa |
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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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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