Correlation Between Panin Sekuritas and Bank Yudha
Can any of the company-specific risk be diversified away by investing in both Panin Sekuritas and Bank Yudha 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 Panin Sekuritas and Bank Yudha into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Panin Sekuritas Tbk and Bank Yudha Bhakti, you can compare the effects of market volatilities on Panin Sekuritas and Bank Yudha 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 Panin Sekuritas with a short position of Bank Yudha. Check out your portfolio center. Please also check ongoing floating volatility patterns of Panin Sekuritas and Bank Yudha.
Diversification Opportunities for Panin Sekuritas and Bank Yudha
-0.67 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Panin and Bank is -0.67. Overlapping area represents the amount of risk that can be diversified away by holding Panin Sekuritas Tbk and Bank Yudha Bhakti in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bank Yudha Bhakti and Panin Sekuritas 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 Panin Sekuritas Tbk are associated (or correlated) with Bank Yudha. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bank Yudha Bhakti has no effect on the direction of Panin Sekuritas i.e., Panin Sekuritas and Bank Yudha go up and down completely randomly.
Pair Corralation between Panin Sekuritas and Bank Yudha
Assuming the 90 days trading horizon Panin Sekuritas is expected to generate 56.86 times less return on investment than Bank Yudha. But when comparing it to its historical volatility, Panin Sekuritas Tbk is 5.65 times less risky than Bank Yudha. It trades about 0.0 of its potential returns per unit of risk. Bank Yudha Bhakti is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest 26,000 in Bank Yudha Bhakti on August 29, 2024 and sell it today you would earn a total of 800.00 from holding Bank Yudha Bhakti or generate 3.08% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Panin Sekuritas Tbk vs. Bank Yudha Bhakti
Performance |
| Timeline |
| Panin Sekuritas Tbk |
| Bank Yudha Bhakti |
Panin Sekuritas and Bank Yudha Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Panin Sekuritas and Bank Yudha
The main advantage of trading using opposite Panin Sekuritas and Bank Yudha positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Panin Sekuritas position performs unexpectedly, Bank Yudha 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 Yudha will offset losses from the drop in Bank Yudha's long position.| Panin Sekuritas vs. Paninvest Tbk | Panin Sekuritas vs. Panin Financial Tbk | Panin Sekuritas vs. Bank Pan Indonesia | Panin Sekuritas vs. Trimegah Securities Tbk |
| Bank Yudha vs. Bank Artos Indonesia | Bank Yudha vs. Bk Harda Internasional | Bank Yudha vs. Bank Rakyat Indonesia | Bank Yudha vs. Bank Mnc Internasional |
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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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