Correlation Between PT Bank and Praxsyn Corp
Can any of the company-specific risk be diversified away by investing in both PT Bank and Praxsyn Corp 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 PT Bank and Praxsyn Corp into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between PT Bank Rakyat and Praxsyn Corp, you can compare the effects of market volatilities on PT Bank and Praxsyn Corp 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 PT Bank with a short position of Praxsyn Corp. Check out your portfolio center. Please also check ongoing floating volatility patterns of PT Bank and Praxsyn Corp.
Diversification Opportunities for PT Bank and Praxsyn Corp
-0.53 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between BKRKF and Praxsyn is -0.53. Overlapping area represents the amount of risk that can be diversified away by holding PT Bank Rakyat and Praxsyn Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Praxsyn Corp and PT 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 PT Bank Rakyat are associated (or correlated) with Praxsyn Corp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Praxsyn Corp has no effect on the direction of PT Bank i.e., PT Bank and Praxsyn Corp go up and down completely randomly.
Pair Corralation between PT Bank and Praxsyn Corp
If you would invest 28.00 in PT Bank Rakyat on September 13, 2024 and sell it today you would earn a total of 1.00 from holding PT Bank Rakyat or generate 3.57% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 0.0% |
| Values | Daily Returns |
PT Bank Rakyat vs. Praxsyn Corp
Performance |
| Timeline |
| PT Bank Rakyat |
| Praxsyn Corp |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
PT Bank and Praxsyn Corp Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with PT Bank and Praxsyn Corp
The main advantage of trading using opposite PT Bank and Praxsyn Corp positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if PT Bank position performs unexpectedly, Praxsyn Corp 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 Praxsyn Corp will offset losses from the drop in Praxsyn Corp's long position.| PT Bank vs. Morningstar Unconstrained Allocation | PT Bank vs. Bondbloxx ETF Trust | PT Bank vs. Spring Valley Acquisition | PT Bank vs. Bondbloxx ETF Trust |
| Praxsyn Corp vs. GMS Inc | Praxsyn Corp vs. PennantPark Floating Rate | Praxsyn Corp vs. Titan Machinery | Praxsyn Corp vs. Encore Capital Group |
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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
Other Complementary Tools
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing | |
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| Technical Analysis Check basic technical indicators and analysis based on most latest market data |