Correlation Between Bank Mandiri and Takung Art
Can any of the company-specific risk be diversified away by investing in both Bank Mandiri and Takung Art 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 Takung Art 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 Takung Art Co, you can compare the effects of market volatilities on Bank Mandiri and Takung Art 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 Takung Art. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bank Mandiri and Takung Art.
Diversification Opportunities for Bank Mandiri and Takung Art
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Bank and Takung is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Bank Mandiri Persero and Takung Art Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Takung Art 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 Takung Art. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Takung Art has no effect on the direction of Bank Mandiri i.e., Bank Mandiri and Takung Art go up and down completely randomly.
Pair Corralation between Bank Mandiri and Takung Art
If you would invest (100.00) in Takung Art Co on November 9, 2024 and sell it today you would earn a total of 100.00 from holding Takung Art Co or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Bank Mandiri Persero vs. Takung Art Co
Performance |
| Timeline |
| Bank Mandiri Persero |
| Takung Art |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Bank Mandiri and Takung Art Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bank Mandiri and Takung Art
The main advantage of trading using opposite Bank Mandiri and Takung Art positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bank Mandiri position performs unexpectedly, Takung Art 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 Takung Art will offset losses from the drop in Takung Art's long position.| Bank Mandiri vs. PT Bank Rakyat | Bank Mandiri vs. Piraeus Bank SA | Bank Mandiri vs. Eurobank Ergasias Services | Bank Mandiri vs. Zions Bancorporation |
| Takung Art vs. Oriental Culture Holding | Takung Art vs. Dolphin Entertainment | Takung Art vs. Hall of Fame | Takung Art vs. Wisekey International Holding |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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