Correlation Between Bank Ocbc and Grand Kartech
Can any of the company-specific risk be diversified away by investing in both Bank Ocbc and Grand Kartech 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 Bank Ocbc and Grand Kartech into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Bank Ocbc Nisp and Grand Kartech Tbk, you can compare the effects of market volatilities on Bank Ocbc and Grand Kartech 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 Bank Ocbc with a short position of Grand Kartech. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bank Ocbc and Grand Kartech.
Diversification Opportunities for Bank Ocbc and Grand Kartech
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Bank and Grand is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Bank Ocbc Nisp and Grand Kartech Tbk in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Grand Kartech Tbk and Bank Ocbc 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 Bank Ocbc Nisp are associated (or correlated) with Grand Kartech. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Grand Kartech Tbk has no effect on the direction of Bank Ocbc i.e., Bank Ocbc and Grand Kartech go up and down completely randomly.
Pair Corralation between Bank Ocbc and Grand Kartech
If you would invest 63,677 in Bank Ocbc Nisp on September 12, 2024 and sell it today you would earn a total of 70,823 from holding Bank Ocbc Nisp or generate 111.22% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Bank Ocbc Nisp vs. Grand Kartech Tbk
Performance |
| Timeline |
| Bank Ocbc Nisp |
| Grand Kartech Tbk |
Bank Ocbc and Grand Kartech Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bank Ocbc and Grand Kartech
The main advantage of trading using opposite Bank Ocbc and Grand Kartech positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bank Ocbc position performs unexpectedly, Grand Kartech 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 Grand Kartech will offset losses from the drop in Grand Kartech's long position.| Bank Ocbc vs. Bank Mega Tbk | Bank Ocbc vs. Bank Pan Indonesia | Bank Ocbc vs. Bank Permata Tbk | Bank Ocbc vs. Bank Cimb Niaga |
| Grand Kartech vs. Indointernet Tbk PT | Grand Kartech vs. Capital Financial Indonesia | Grand Kartech vs. Bank Ocbc Nisp | Grand Kartech vs. Inocycle Technology Tbk |
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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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