Correlation Between Asuransi Bina and Bank BRISyariah
Can any of the company-specific risk be diversified away by investing in both Asuransi Bina and Bank BRISyariah 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 Asuransi Bina and Bank BRISyariah into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Asuransi Bina Dana and Bank BRISyariah Tbk, you can compare the effects of market volatilities on Asuransi Bina and Bank BRISyariah 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 Asuransi Bina with a short position of Bank BRISyariah. Check out your portfolio center. Please also check ongoing floating volatility patterns of Asuransi Bina and Bank BRISyariah.
Diversification Opportunities for Asuransi Bina and Bank BRISyariah
0.2 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Asuransi and Bank is 0.2. Overlapping area represents the amount of risk that can be diversified away by holding Asuransi Bina Dana and Bank BRISyariah Tbk in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bank BRISyariah Tbk and Asuransi Bina 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 Asuransi Bina Dana are associated (or correlated) with Bank BRISyariah. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bank BRISyariah Tbk has no effect on the direction of Asuransi Bina i.e., Asuransi Bina and Bank BRISyariah go up and down completely randomly.
Pair Corralation between Asuransi Bina and Bank BRISyariah
If you would invest 380,000 in Asuransi Bina Dana on December 1, 2024 and sell it today you would earn a total of 0.00 from holding Asuransi Bina Dana or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Asuransi Bina Dana vs. Bank BRISyariah Tbk
Performance |
| Timeline |
| Asuransi Bina Dana |
| Bank BRISyariah Tbk |
Asuransi Bina and Bank BRISyariah Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Asuransi Bina and Bank BRISyariah
The main advantage of trading using opposite Asuransi Bina and Bank BRISyariah positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Asuransi Bina position performs unexpectedly, Bank BRISyariah 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 Bank BRISyariah will offset losses from the drop in Bank BRISyariah's long position.| Asuransi Bina vs. Bank Ocbc Nisp | Asuransi Bina vs. Bank Mayapada Internasional | Asuransi Bina vs. Bank Permata Tbk | Asuransi Bina vs. Bank Pan Indonesia |
| Bank BRISyariah vs. Aneka Tambang Persero | Bank BRISyariah vs. Sido Muncul PT | Bank BRISyariah vs. Indofood Cbp Sukses | Bank BRISyariah vs. Bank Tabungan Pensiunan |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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