Correlation Between PT Astra and Structure Therapeutics

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

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

Diversification Opportunities for PT Astra and Structure Therapeutics

-0.86

Correlation Coefficient

PT Astra  Structure Therapeutics

Pay attention - limited upside

The 3 months correlation between PTAIF and Structure is -0.86. Overlapping area represents the amount of risk that can be diversified away by holding PT Astra International and Structure Therapeutics America in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Structure Therapeutics and PT Astra 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 Astra International are associated (or correlated) with Structure Therapeutics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Structure Therapeutics has no effect on the direction of PT Astra i.e., PT Astra and Structure Therapeutics go up and down completely randomly.

Pair Corralation between PT Astra and Structure Therapeutics

Assuming the 90 days horizon PT Astra International is expected to generate 0.62 times more return on investment than Structure Therapeutics. However, PT Astra International is 1.61 times less risky than Structure Therapeutics. It trades about 0.1 of its potential returns per unit of risk. Structure Therapeutics American is currently generating about -0.2 per unit of risk. If you would invest  28.00  in PT Astra International on April 30, 2025 and sell it today you would earn a total of  3.00  from holding PT Astra International or generate 10.71% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Significant
Accuracy	98.39%
Values	Daily Returns

PT Astra International  vs.  Structure Therapeutics America

PT Astra International

Risk-Adjusted Performance

OK

Compared to the overall equity markets, risk-adjusted returns on investments in PT Astra International are ranked lower than 8 (%) of all global equities and portfolios over the last 90 days. Despite nearly fragile forward indicators, PT Astra may actually be approaching a critical reversion point that can send shares even higher in August 2025.

Structure Therapeutics

Risk-Adjusted Performance

Very Weak

Over the last 90 days Structure Therapeutics American has generated negative risk-adjusted returns adding no value to investors with long positions. Even with unfluctuating performance in the last few months, the Stock's fundamental indicators remain relatively invariable which may send shares a bit higher in August 2025. The latest agitation may also be a sign of long-running up-swing for the enterprise retail investors.

Pair Trading with PT Astra and Structure Therapeutics

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

The idea behind PT Astra International and Structure Therapeutics American 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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.