| PPERY Stock | | | USD 15.76 0.12 0.77% |
The current 90-days correlation between Bank Mandiri Persero and Kasikornbank Public Co is 0.12 (i.e., Average diversification). The correlation of Bank Mandiri 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 correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.
Bank Mandiri Correlation With Market
Average diversification
The correlation between Bank Mandiri Persero and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bank Mandiri Persero and DJI in the same portfolio, assuming nothing else is changed.
The ability to find closely correlated positions to Bank Mandiri could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bank Mandiri 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 Bank Mandiri - 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 Bank Mandiri Persero to buy it.
Moving together with Bank Pink Sheet
Moving against Bank Pink Sheet
Related Correlations Analysis
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Bank Mandiri Corporate Management