Correlation Between Bank Mandiri and Calbee
Can any of the company-specific risk be diversified away by investing in both Bank Mandiri and Calbee 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 Bank Mandiri and Calbee into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Bank Mandiri Persero and Calbee Inc, you can compare the effects of market volatilities on Bank Mandiri and Calbee 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 Bank Mandiri with a short position of Calbee. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bank Mandiri and Calbee.
Diversification Opportunities for Bank Mandiri and Calbee
-0.58 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Bank and Calbee is -0.58. Overlapping area represents the amount of risk that can be diversified away by holding Bank Mandiri Persero and Calbee Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Calbee Inc and Bank Mandiri 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 Bank Mandiri Persero are associated (or correlated) with Calbee. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Calbee Inc has no effect on the direction of Bank Mandiri i.e., Bank Mandiri and Calbee go up and down completely randomly.
Pair Corralation between Bank Mandiri and Calbee
If you would invest 2,281 in Calbee Inc on September 23, 2024 and sell it today you would earn a total of 0.00 from holding Calbee Inc or generate 0.0% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Very Weak |
Accuracy | 1.54% |
Values | Daily Returns |
Bank Mandiri Persero vs. Calbee Inc
Performance |
Timeline |
Bank Mandiri Persero |
Calbee Inc |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Bank Mandiri and Calbee Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Bank Mandiri and Calbee
The main advantage of trading using opposite Bank Mandiri and Calbee positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bank Mandiri position performs unexpectedly, Calbee 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 Calbee will offset losses from the drop in Calbee's long position.Bank Mandiri vs. Banco Bradesco SA | ||
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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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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