Correlation Between Bank Mandiri and Breeze Holdings
Can any of the company-specific risk be diversified away by investing in both Bank Mandiri and Breeze Holdings 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 Mandiri and Breeze Holdings into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Bank Mandiri Persero and Breeze Holdings Acquisition, you can compare the effects of market volatilities on Bank Mandiri and Breeze Holdings 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 Mandiri with a short position of Breeze Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bank Mandiri and Breeze Holdings.
Diversification Opportunities for Bank Mandiri and Breeze Holdings
-0.72 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Bank and Breeze is -0.72. Overlapping area represents the amount of risk that can be diversified away by holding Bank Mandiri Persero and Breeze Holdings Acquisition in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Breeze Holdings Acqu and Bank Mandiri 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 Mandiri Persero are associated (or correlated) with Breeze Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Breeze Holdings Acqu has no effect on the direction of Bank Mandiri i.e., Bank Mandiri and Breeze Holdings go up and down completely randomly.
Pair Corralation between Bank Mandiri and Breeze Holdings
If you would invest 44.00 in Bank Mandiri Persero on September 1, 2024 and sell it today you would lose (1.00) from holding Bank Mandiri Persero or give up 2.27% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 0.54% |
| Values | Daily Returns |
Bank Mandiri Persero vs. Breeze Holdings Acquisition
Performance |
| Timeline |
| Bank Mandiri Persero |
| Breeze Holdings Acqu |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Bank Mandiri and Breeze Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bank Mandiri and Breeze Holdings
The main advantage of trading using opposite Bank Mandiri and Breeze Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bank Mandiri position performs unexpectedly, Breeze Holdings 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 Breeze Holdings will offset losses from the drop in Breeze Holdings' long position.| Bank Mandiri vs. Piraeus Bank SA | Bank Mandiri vs. Turkiye Garanti Bankasi | Bank Mandiri vs. Delhi Bank Corp | Bank Mandiri vs. Uwharrie Capital Corp |
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
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. |