Correlation Between Bank Mandiri and Gncc Capital
Can any of the company-specific risk be diversified away by investing in both Bank Mandiri and Gncc Capital 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 Gncc Capital 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 Gncc Capital, you can compare the effects of market volatilities on Bank Mandiri and Gncc Capital 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 Gncc Capital. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bank Mandiri and Gncc Capital.
Diversification Opportunities for Bank Mandiri and Gncc Capital
-0.68 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Bank and Gncc is -0.68. Overlapping area represents the amount of risk that can be diversified away by holding Bank Mandiri Persero and Gncc Capital in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gncc Capital 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 Gncc Capital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gncc Capital has no effect on the direction of Bank Mandiri i.e., Bank Mandiri and Gncc Capital go up and down completely randomly.
Pair Corralation between Bank Mandiri and Gncc Capital
If you would invest 0.01 in Gncc Capital on August 25, 2024 and sell it today you would earn a total of 0.00 from holding Gncc Capital 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. Gncc Capital
Performance |
| Timeline |
| Bank Mandiri Persero |
| Gncc Capital |
Bank Mandiri and Gncc Capital Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bank Mandiri and Gncc Capital
The main advantage of trading using opposite Bank Mandiri and Gncc Capital positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bank Mandiri position performs unexpectedly, Gncc Capital 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 Gncc Capital will offset losses from the drop in Gncc Capital's long position.| Bank Mandiri vs. Standard Bank Group | Bank Mandiri vs. PSB Holdings | Bank Mandiri vs. United Overseas Bank | Bank Mandiri vs. Turkiye Garanti Bankasi |
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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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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