Correlation Between FullNet Communications and PT Astra
Can any of the company-specific risk be diversified away by investing in both FullNet Communications and PT Astra 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 FullNet Communications and PT Astra into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between FullNet Communications and PT Astra International, you can compare the effects of market volatilities on FullNet Communications and PT Astra 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 FullNet Communications with a short position of PT Astra. Check out your portfolio center. Please also check ongoing floating volatility patterns of FullNet Communications and PT Astra.
Diversification Opportunities for FullNet Communications and PT Astra
0.09 | Correlation Coefficient |
Significant diversification
The 3 months correlation between FullNet and PTAIF is 0.09. Overlapping area represents the amount of risk that can be diversified away by holding FullNet Communications and PT Astra International in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PT Astra International and FullNet Communications 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 FullNet Communications are associated (or correlated) with PT Astra. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PT Astra International has no effect on the direction of FullNet Communications i.e., FullNet Communications and PT Astra go up and down completely randomly.
Pair Corralation between FullNet Communications and PT Astra
Given the investment horizon of 90 days FullNet Communications is expected to generate 5.58 times more return on investment than PT Astra. However, FullNet Communications is 5.58 times more volatile than PT Astra International. It trades about 0.0 of its potential returns per unit of risk. PT Astra International is currently generating about -0.18 per unit of risk. If you would invest 40.00 in FullNet Communications on September 1, 2025 and sell it today you would lose (1.00) from holding FullNet Communications or give up 2.5% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 49.21% |
| Values | Daily Returns |
FullNet Communications vs. PT Astra International
Performance |
| Timeline |
| FullNet Communications |
| PT Astra International |
Risk-Adjusted Performance
Weakest
Weak | Strong |
FullNet Communications and PT Astra Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with FullNet Communications and PT Astra
The main advantage of trading using opposite FullNet Communications and PT Astra positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FullNet Communications position performs unexpectedly, PT Astra 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 Astra will offset losses from the drop in PT Astra's long position.| FullNet Communications vs. Westrock Coffee | FullNet Communications vs. Tel Instrument Electronics Corp | FullNet Communications vs. Healthy Coffee International | FullNet Communications vs. Klegg Electronics |
| PT Astra vs. Xtera Communications | PT Astra vs. FullNet Communications | PT Astra vs. Rogers Communications | PT Astra vs. Paiute Oil Mining |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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