Correlation Between Public Bank and Iskandar Waterfront
Can any of the company-specific risk be diversified away by investing in both Public Bank and Iskandar Waterfront 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 Public Bank and Iskandar Waterfront into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Public Bank Bhd and Iskandar Waterfront City, you can compare the effects of market volatilities on Public Bank and Iskandar Waterfront 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 Public Bank with a short position of Iskandar Waterfront. Check out your portfolio center. Please also check ongoing floating volatility patterns of Public Bank and Iskandar Waterfront.
Diversification Opportunities for Public Bank and Iskandar Waterfront
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Public and Iskandar is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Public Bank Bhd and Iskandar Waterfront City in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Iskandar Waterfront City and Public Bank 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 Public Bank Bhd are associated (or correlated) with Iskandar Waterfront. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Iskandar Waterfront City has no effect on the direction of Public Bank i.e., Public Bank and Iskandar Waterfront go up and down completely randomly.
Pair Corralation between Public Bank and Iskandar Waterfront
If you would invest 421.00 in Public Bank Bhd on August 27, 2024 and sell it today you would earn a total of 17.00 from holding Public Bank Bhd or generate 4.04% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Public Bank Bhd vs. Iskandar Waterfront City
Performance |
| Timeline |
| Public Bank Bhd |
| Iskandar Waterfront City |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Public Bank and Iskandar Waterfront Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Public Bank and Iskandar Waterfront
The main advantage of trading using opposite Public Bank and Iskandar Waterfront positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Public Bank position performs unexpectedly, Iskandar Waterfront 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 Iskandar Waterfront will offset losses from the drop in Iskandar Waterfront's long position.| Public Bank vs. Malaysia Steel Works | Public Bank vs. Eonmetall Group Bhd | Public Bank vs. Press Metal Bhd | Public Bank vs. MClean Technologies Bhd |
| Iskandar Waterfront vs. SFP Tech Holdings | Iskandar Waterfront vs. Uchi Technologies Bhd | Iskandar Waterfront vs. Sunzen Biotech Bhd | Iskandar Waterfront vs. Cosmos Technology International |
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 Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
Other Complementary Tools
| Performance Analysis Check effects of mean-variance optimization against your current asset allocation | |
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device |