Correlation Between Mandala Multifinance and Adhi Commuter
Can any of the company-specific risk be diversified away by investing in both Mandala Multifinance and Adhi Commuter 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 Mandala Multifinance and Adhi Commuter into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Mandala Multifinance Tbk and Adhi Commuter Properti, you can compare the effects of market volatilities on Mandala Multifinance and Adhi Commuter 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 Mandala Multifinance with a short position of Adhi Commuter. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mandala Multifinance and Adhi Commuter.
Diversification Opportunities for Mandala Multifinance and Adhi Commuter
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Mandala and Adhi is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Mandala Multifinance Tbk and Adhi Commuter Properti in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Adhi Commuter Properti and Mandala Multifinance 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 Mandala Multifinance Tbk are associated (or correlated) with Adhi Commuter. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Adhi Commuter Properti has no effect on the direction of Mandala Multifinance i.e., Mandala Multifinance and Adhi Commuter go up and down completely randomly.
Pair Corralation between Mandala Multifinance and Adhi Commuter
If you would invest 5,000 in Adhi Commuter Properti on November 28, 2024 and sell it today you would earn a total of 0.00 from holding Adhi Commuter Properti or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Mandala Multifinance Tbk vs. Adhi Commuter Properti
Performance |
| Timeline |
| Mandala Multifinance Tbk |
| Adhi Commuter Properti |
Mandala Multifinance and Adhi Commuter Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mandala Multifinance and Adhi Commuter
The main advantage of trading using opposite Mandala Multifinance and Adhi Commuter positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mandala Multifinance position performs unexpectedly, Adhi Commuter 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 Adhi Commuter will offset losses from the drop in Adhi Commuter's long position.| Mandala Multifinance vs. Paninvest Tbk | Mandala Multifinance vs. Maskapai Reasuransi Indonesia | Mandala Multifinance vs. Panin Sekuritas Tbk | Mandala Multifinance vs. Wahana Ottomitra Multiartha |
| Adhi Commuter vs. Adaro Minerals Indonesia | Adhi Commuter vs. Autopedia Sukses Lestari | Adhi Commuter vs. PT Bukalapak | Adhi Commuter vs. Widodo Makmur Perkasa |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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