Correlation Between Bank Mandiri and Granite Falls
Can any of the company-specific risk be diversified away by investing in both Bank Mandiri and Granite Falls 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 Granite Falls 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 Granite Falls Energy, you can compare the effects of market volatilities on Bank Mandiri and Granite Falls 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 Granite Falls. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bank Mandiri and Granite Falls.
Diversification Opportunities for Bank Mandiri and Granite Falls
-0.65 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Bank and Granite is -0.65. Overlapping area represents the amount of risk that can be diversified away by holding Bank Mandiri Persero and Granite Falls Energy in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Granite Falls Energy 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 Granite Falls. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Granite Falls Energy has no effect on the direction of Bank Mandiri i.e., Bank Mandiri and Granite Falls go up and down completely randomly.
Pair Corralation between Bank Mandiri and Granite Falls
If you would invest 300,000 in Granite Falls Energy on September 1, 2024 and sell it today you would earn a total of 0.00 from holding Granite Falls Energy or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Bank Mandiri Persero vs. Granite Falls Energy
Performance |
| Timeline |
| Bank Mandiri Persero |
| Granite Falls Energy |
Bank Mandiri and Granite Falls Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bank Mandiri and Granite Falls
The main advantage of trading using opposite Bank Mandiri and Granite Falls positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bank Mandiri position performs unexpectedly, Granite Falls 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 Granite Falls will offset losses from the drop in Granite Falls' 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 |
| Granite Falls vs. European Wax Center | Granite Falls vs. Lincoln Electric Holdings | Granite Falls vs. Ardelyx | Granite Falls vs. Mink Therapeutics |
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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
Other Complementary Tools
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity | |
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets |