Correlation Between Jyske Bank and Bank Mandiri
Can any of the company-specific risk be diversified away by investing in both Jyske Bank and Bank Mandiri 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 Jyske Bank and Bank Mandiri into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Jyske Bank AS and Bank Mandiri Persero, you can compare the effects of market volatilities on Jyske Bank and Bank Mandiri 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 Jyske Bank with a short position of Bank Mandiri. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jyske Bank and Bank Mandiri.
Diversification Opportunities for Jyske Bank and Bank Mandiri
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Jyske and Bank is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Jyske Bank AS and Bank Mandiri Persero in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bank Mandiri Persero and Jyske 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 Jyske Bank AS are associated (or correlated) with Bank Mandiri. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bank Mandiri Persero has no effect on the direction of Jyske Bank i.e., Jyske Bank and Bank Mandiri go up and down completely randomly.
Pair Corralation between Jyske Bank and Bank Mandiri
If you would invest 1,415 in Bank Mandiri Persero on November 2, 2024 and sell it today you would earn a total of 72.00 from holding Bank Mandiri Persero or generate 5.09% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.0% |
| Values | Daily Returns |
Jyske Bank AS vs. Bank Mandiri Persero
Performance |
| Timeline |
| Jyske Bank AS |
| Bank Mandiri Persero |
Jyske Bank and Bank Mandiri Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jyske Bank and Bank Mandiri
The main advantage of trading using opposite Jyske Bank and Bank Mandiri positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jyske Bank position performs unexpectedly, Bank Mandiri 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 Mandiri will offset losses from the drop in Bank Mandiri's long position.| Jyske Bank vs. Baraboo Bancorporation | Jyske Bank vs. Schweizerische Nationalbank | Jyske Bank vs. Danske Bank AS | Jyske Bank vs. Absa Group Limited |
| Bank Mandiri vs. Bank Rakyat | Bank Mandiri vs. Eurobank Ergasias Services | Bank Mandiri vs. Nedbank Group | Bank Mandiri vs. Standard Bank 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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
Other Complementary Tools
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum | |
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Portfolio Optimization Compute new portfolio that will generate highest expected return given your specified tolerance for risk |