Correlation Between Bank Mandiri and Viscogliosi Brothers
Can any of the company-specific risk be diversified away by investing in both Bank Mandiri and Viscogliosi Brothers 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 Viscogliosi Brothers 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 Viscogliosi Brothers Acquisition, you can compare the effects of market volatilities on Bank Mandiri and Viscogliosi Brothers 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 Viscogliosi Brothers. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bank Mandiri and Viscogliosi Brothers.
Diversification Opportunities for Bank Mandiri and Viscogliosi Brothers
-0.51 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Bank and Viscogliosi is -0.51. Overlapping area represents the amount of risk that can be diversified away by holding Bank Mandiri Persero and Viscogliosi Brothers Acquisiti in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Viscogliosi Brothers 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 Viscogliosi Brothers. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Viscogliosi Brothers has no effect on the direction of Bank Mandiri i.e., Bank Mandiri and Viscogliosi Brothers go up and down completely randomly.
Pair Corralation between Bank Mandiri and Viscogliosi Brothers
If you would invest 1,047 in Viscogliosi Brothers Acquisition on September 1, 2024 and sell it today you would earn a total of 0.00 from holding Viscogliosi Brothers Acquisition or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 4.76% |
| Values | Daily Returns |
Bank Mandiri Persero vs. Viscogliosi Brothers Acquisiti
Performance |
| Timeline |
| Bank Mandiri Persero |
| Viscogliosi Brothers |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Bank Mandiri and Viscogliosi Brothers Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bank Mandiri and Viscogliosi Brothers
The main advantage of trading using opposite Bank Mandiri and Viscogliosi Brothers positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bank Mandiri position performs unexpectedly, Viscogliosi Brothers 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 Viscogliosi Brothers will offset losses from the drop in Viscogliosi Brothers' 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 |
| Viscogliosi Brothers vs. Cartica Acquisition Corp | Viscogliosi Brothers vs. Papaya Growth Opportunity | Viscogliosi Brothers vs. Western Acquisition Ventures |
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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
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