Correlation Between PT Jasa and OSG

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

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

Diversification Opportunities for PT Jasa and OSG

0.0

Correlation Coefficient

PT Jasa  OSG

Pay attention - limited upside

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

Pair Corralation between PT Jasa and OSG

If you would invest  1,143  in OSG Corporation on September 15, 2025 and sell it today you would earn a total of  0.00  from holding OSG Corporation or generate 0.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	5.0%
Values	Daily Returns

PT Jasa Marga  vs.  OSG Corp.

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.

OSG Corporation

Risk-Adjusted Performance

Weakest

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

Pair Trading with PT Jasa and OSG

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

The idea behind PT Jasa Marga and OSG Corporation 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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.