Pyridam Farma (Indonesia) Statistic Functions Pearson Correlation Coefficient
| PYFA Stock | IDR 236.00 8.00 3.28% |
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Incorrect Input. Please change your parameters or increase the time horizon required for running this function. The output start index for this execution was zero with a total number of output elements of zero. The Pearsons Correlation Coefficient is one of the most common measures of correlation in financial statistics. It shows the linear relationship between price series of Pyridam Farma Tbk and its benchmark or peer.
Pyridam Farma Technical Analysis Modules
Most technical analysis of Pyridam Farma help investors determine whether a current trend will continue and, if not, when it will shift. We provide a combination of tools to recognize potential entry and exit points for Pyridam from various momentum indicators to cycle indicators. When you analyze Pyridam charts, please remember that the event formation may indicate an entry point for a short seller, and look at other indicators across different periods to confirm that a breakdown or reversion is likely to occur.| Cycle Indicators | ||
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About Pyridam Farma Predictive Technical Analysis
Predictive technical analysis modules help investors to analyze different prices and returns patterns as well as diagnose historical swings to determine the real value of Pyridam Farma Tbk. We use our internally-developed statistical techniques to arrive at the intrinsic value of Pyridam Farma Tbk based on widely used predictive technical indicators. In general, we focus on analyzing Pyridam Stock price patterns and their correlations with different microeconomic environment and drivers. We also apply predictive analytics to build Pyridam Farma's daily price indicators and compare them against related drivers, such as statistic functions and various other types of predictive indicators. Using this methodology combined with a more conventional technical analysis and fundamental analysis, we attempt to find the most accurate representation of Pyridam Farma's intrinsic value. In addition to deriving basic predictive indicators for Pyridam Farma, we also check how macroeconomic factors affect Pyridam Farma price patterns. Please read more on our technical analysis page or use our predictive modules below to complement your research.
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Pyridam Farma Tbk pair trading
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Pyridam Farma position performs unexpectedly, the other equity 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 Pyridam Farma will appreciate offsetting losses from the drop in the long position's value.Pyridam Farma Pair Trading
Pyridam Farma Tbk Pair Trading Analysis
The ability to find closely correlated positions to Pyridam Farma could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Pyridam Farma when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Pyridam Farma - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Pyridam Farma Tbk to buy it.
The correlation of Pyridam Farma is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Pyridam Farma moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Pyridam Farma Tbk moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Pyridam Farma can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Other Information on Investing in Pyridam Stock
Pyridam Farma financial ratios help investors to determine whether Pyridam Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Pyridam with respect to the benefits of owning Pyridam Farma security.