Correlation Between Bird Construction and PT Jasa

Can any of the company-specific risk be diversified away by investing in both Bird Construction and PT Jasa 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 Bird Construction and PT Jasa into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Bird Construction and PT Jasa Marga, you can compare the effects of market volatilities on Bird Construction and PT Jasa 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 Bird Construction with a short position of PT Jasa. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bird Construction and PT Jasa.

Diversification Opportunities for Bird Construction and PT Jasa

0.0

Correlation Coefficient

Bird Construction  PT Jasa

Pay attention - limited upside

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

Pair Corralation between Bird Construction and PT Jasa

If you would invest  1,825  in Bird Construction on September 15, 2025 and sell it today you would earn a total of  254.00  from holding Bird Construction or generate 13.92% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	100.0%
Values	Daily Returns

Bird Construction  vs.  PT Jasa Marga

Bird Construction

Risk-Adjusted Performance

Soft

Compared to the overall equity markets, risk-adjusted returns on investments in Bird Construction are ranked lower than 3 (%) of all global equities and portfolios over the last 90 days. Despite nearly stable fundamental indicators, Bird Construction is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholders.

PT Jasa Marga

Risk-Adjusted Performance

Weakest

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

Pair Trading with Bird Construction and PT Jasa

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

The idea behind Bird Construction and PT Jasa Marga 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.

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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.