Correlation Between Perusahaan Perseroan and Superior Industries

Can any of the company-specific risk be diversified away by investing in both Perusahaan Perseroan and Superior Industries 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 Perusahaan Perseroan and Superior Industries into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Perusahaan Perseroan PT and Superior Industries International, you can compare the effects of market volatilities on Perusahaan Perseroan and Superior Industries 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 Perusahaan Perseroan with a short position of Superior Industries. Check out your portfolio center. Please also check ongoing floating volatility patterns of Perusahaan Perseroan and Superior Industries.

Diversification Opportunities for Perusahaan Perseroan and Superior Industries

0.0

Correlation Coefficient

Perusahaan Perseroan  Superior Industries

Pay attention - limited upside

The 3 months correlation between Perusahaan and Superior is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Perusahaan Perseroan PT and Superior Industries Internatio in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Superior Industries and Perusahaan Perseroan 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 Perusahaan Perseroan PT are associated (or correlated) with Superior Industries. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Superior Industries has no effect on the direction of Perusahaan Perseroan i.e., Perusahaan Perseroan and Superior Industries go up and down completely randomly.

Pair Corralation between Perusahaan Perseroan and Superior Industries

If you would invest  1,261  in Perusahaan Perseroan PT on April 24, 2025 and sell it today you would earn a total of  199.00  from holding Perusahaan Perseroan PT or generate 15.78% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	0.0%
Values	Daily Returns

Perusahaan Perseroan PT  vs.  Superior Industries Internatio

Perusahaan Perseroan

Risk-Adjusted Performance

OK

Compared to the overall equity markets, risk-adjusted returns on investments in Perusahaan Perseroan PT are ranked lower than 9 (%) of all global equities and portfolios over the last 90 days. Despite nearly fragile basic indicators, Perusahaan Perseroan reported solid returns over the last few months and may actually be approaching a breakup point.

Superior Industries

Risk-Adjusted Performance

Very Weak

Over the last 90 days Superior Industries International has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable basic indicators, Superior Industries is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholders.

Pair Trading with Perusahaan Perseroan and Superior Industries

The main advantage of trading using opposite Perusahaan Perseroan and Superior Industries positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Perusahaan Perseroan position performs unexpectedly, Superior Industries 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 Superior Industries will offset losses from the drop in Superior Industries' long position.

The idea behind Perusahaan Perseroan PT and Superior Industries International pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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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 Transaction History module to view history of all your transactions and understand their impact on performance.