Correlation Between Satria Antaran and Kioson Komersial
Can any of the company-specific risk be diversified away by investing in both Satria Antaran and Kioson Komersial 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 Satria Antaran and Kioson Komersial into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Satria Antaran Prima and Kioson Komersial Indonesia, you can compare the effects of market volatilities on Satria Antaran and Kioson Komersial 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 Satria Antaran with a short position of Kioson Komersial. Check out your portfolio center. Please also check ongoing floating volatility patterns of Satria Antaran and Kioson Komersial.
Diversification Opportunities for Satria Antaran and Kioson Komersial
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Satria and Kioson is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Satria Antaran Prima and Kioson Komersial Indonesia in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kioson Komersial Ind and Satria Antaran 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 Satria Antaran Prima are associated (or correlated) with Kioson Komersial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kioson Komersial Ind has no effect on the direction of Satria Antaran i.e., Satria Antaran and Kioson Komersial go up and down completely randomly.
Pair Corralation between Satria Antaran and Kioson Komersial
Assuming the 90 days trading horizon Satria Antaran Prima is expected to generate 3.36 times more return on investment than Kioson Komersial. However, Satria Antaran is 3.36 times more volatile than Kioson Komersial Indonesia. It trades about 0.02 of its potential returns per unit of risk. Kioson Komersial Indonesia is currently generating about 0.01 per unit of risk. If you would invest 64,500 in Satria Antaran Prima on December 2, 2024 and sell it today you would lose (18,500) from holding Satria Antaran Prima or give up 28.68% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
Satria Antaran Prima vs. Kioson Komersial Indonesia
Performance |
Timeline |
Satria Antaran Prima |
Kioson Komersial Ind |
Satria Antaran and Kioson Komersial Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Satria Antaran and Kioson Komersial
The main advantage of trading using opposite Satria Antaran and Kioson Komersial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Satria Antaran position performs unexpectedly, Kioson Komersial 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 Kioson Komersial will offset losses from the drop in Kioson Komersial's long position.Satria Antaran vs. PT Trimuda Nuansa | Satria Antaran vs. Guna Timur Raya | Satria Antaran vs. Pelayaran Nelly Dwi | Satria Antaran vs. Krida Jaringan Nusantara |
Kioson Komersial vs. M Cash Integrasi | Kioson Komersial vs. NFC Indonesia PT | Kioson Komersial vs. Multipolar Technology Tbk | Kioson Komersial vs. Digital Mediatama Maxima |
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 Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.
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