Correlation Between Bank Mandiri and Pennsylvania Real
Can any of the company-specific risk be diversified away by investing in both Bank Mandiri and Pennsylvania Real 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 Pennsylvania Real 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 Pennsylvania Real Estate, you can compare the effects of market volatilities on Bank Mandiri and Pennsylvania Real 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 Pennsylvania Real. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bank Mandiri and Pennsylvania Real.
Diversification Opportunities for Bank Mandiri and Pennsylvania Real
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Bank and Pennsylvania is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Bank Mandiri Persero and Pennsylvania Real Estate in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Pennsylvania Real Estate 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 Pennsylvania Real. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Pennsylvania Real Estate has no effect on the direction of Bank Mandiri i.e., Bank Mandiri and Pennsylvania Real go up and down completely randomly.
Pair Corralation between Bank Mandiri and Pennsylvania Real
If you would invest 68.00 in Bank Mandiri Persero on November 5, 2024 and sell it today you would lose (35.00) from holding Bank Mandiri Persero or give up 51.47% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.22% |
| Values | Daily Returns |
Bank Mandiri Persero vs. Pennsylvania Real Estate
Performance |
| Timeline |
| Bank Mandiri Persero |
| Pennsylvania Real Estate |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Bank Mandiri and Pennsylvania Real Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bank Mandiri and Pennsylvania Real
The main advantage of trading using opposite Bank Mandiri and Pennsylvania Real positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bank Mandiri position performs unexpectedly, Pennsylvania Real 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 Pennsylvania Real will offset losses from the drop in Pennsylvania Real's long position.| Bank Mandiri vs. Banco De Chile | Bank Mandiri vs. Banco Santander Brasil | Bank Mandiri vs. CrossFirst Bankshares | Bank Mandiri vs. Banco Bradesco SA |
| Pennsylvania Real vs. Brixmor Property | Pennsylvania Real vs. Alexander Baldwin Holdings | Pennsylvania Real vs. Acadia Realty Trust | Pennsylvania Real vs. Kite Realty Group |
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 Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.
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