Correlation Between Indo Tambangraya and PT Bukit
Can any of the company-specific risk be diversified away by investing in both Indo Tambangraya and PT Bukit 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 Indo Tambangraya and PT Bukit into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Indo Tambangraya Megah and PT Bukit Asam, you can compare the effects of market volatilities on Indo Tambangraya and PT Bukit 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 Indo Tambangraya with a short position of PT Bukit. Check out your portfolio center. Please also check ongoing floating volatility patterns of Indo Tambangraya and PT Bukit.
Diversification Opportunities for Indo Tambangraya and PT Bukit
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Indo and PBATF is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Indo Tambangraya Megah and PT Bukit Asam in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PT Bukit Asam and Indo Tambangraya 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 Indo Tambangraya Megah are associated (or correlated) with PT Bukit. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PT Bukit Asam has no effect on the direction of Indo Tambangraya i.e., Indo Tambangraya and PT Bukit go up and down completely randomly.
Pair Corralation between Indo Tambangraya and PT Bukit
If you would invest 273.00 in Indo Tambangraya Megah on September 11, 2025 and sell it today you would lose (6.00) from holding Indo Tambangraya Megah or give up 2.2% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Indo Tambangraya Megah vs. PT Bukit Asam
Performance |
| Timeline |
| Indo Tambangraya Megah |
| PT Bukit Asam |
Risk-Adjusted Performance
Weakest
Weak | Strong |
Indo Tambangraya and PT Bukit Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Indo Tambangraya and PT Bukit
The main advantage of trading using opposite Indo Tambangraya and PT Bukit positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Indo Tambangraya position performs unexpectedly, PT Bukit 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 Bukit will offset losses from the drop in PT Bukit's long position.| Indo Tambangraya vs. Stanmore Resources Limited | Indo Tambangraya vs. Mongolian Mining | Indo Tambangraya vs. Bukit Asam Tbk | Indo Tambangraya vs. Aker Solutions ASA |
| PT Bukit vs. Indo Tambangraya Megah | PT Bukit vs. New Hope | PT Bukit vs. Mongolian Mining | PT Bukit vs. Adaro Energy Tbk |
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 Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
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