Correlation Between PT Semen and SUPER HI
Can any of the company-specific risk be diversified away by investing in both PT Semen and SUPER HI 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 PT Semen and SUPER HI into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between PT Semen Indonesia and SUPER HI INTERNATIONAL, you can compare the effects of market volatilities on PT Semen and SUPER HI 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 PT Semen with a short position of SUPER HI. Check out your portfolio center. Please also check ongoing floating volatility patterns of PT Semen and SUPER HI.
Diversification Opportunities for PT Semen and SUPER HI
Poor diversification
The 3 months correlation between PSGTF and SUPER is 0.69. Overlapping area represents the amount of risk that can be diversified away by holding PT Semen Indonesia and SUPER HI INTERNATIONAL in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SUPER HI INTERNATIONAL and PT Semen 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 PT Semen Indonesia are associated (or correlated) with SUPER HI. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SUPER HI INTERNATIONAL has no effect on the direction of PT Semen i.e., PT Semen and SUPER HI go up and down completely randomly.
Pair Corralation between PT Semen and SUPER HI
Assuming the 90 days horizon PT Semen Indonesia is expected to under-perform the SUPER HI. In addition to that, PT Semen is 1.45 times more volatile than SUPER HI INTERNATIONAL. It trades about -0.04 of its total potential returns per unit of risk. SUPER HI INTERNATIONAL is currently generating about -0.04 per unit of volatility. If you would invest 2,370 in SUPER HI INTERNATIONAL on March 10, 2025 and sell it today you would lose (329.00) from holding SUPER HI INTERNATIONAL or give up 13.88% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
PT Semen Indonesia vs. SUPER HI INTERNATIONAL
Performance |
| Timeline |
| PT Semen Indonesia |
| SUPER HI INTERNATIONAL |
PT Semen and SUPER HI Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with PT Semen and SUPER HI
The main advantage of trading using opposite PT Semen and SUPER HI positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if PT Semen position performs unexpectedly, SUPER HI 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 SUPER HI will offset losses from the drop in SUPER HI's long position.| PT Semen vs. Griffon | PT Semen vs. Nicola Mining | PT Semen vs. Aldel Financial II | PT Semen vs. Dave Busters Entertainment |
| SUPER HI vs. Goldrich Mining Co | SUPER HI vs. Nicola Mining | SUPER HI vs. Catalyst Metals Limited | SUPER HI vs. Uber Technologies |
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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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