Correlation Between Bank Mandiri and Grayscale Zcash
Can any of the company-specific risk be diversified away by investing in both Bank Mandiri and Grayscale Zcash 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 Grayscale Zcash 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 Grayscale Zcash Trust, you can compare the effects of market volatilities on Bank Mandiri and Grayscale Zcash 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 Grayscale Zcash. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bank Mandiri and Grayscale Zcash.
Diversification Opportunities for Bank Mandiri and Grayscale Zcash
-0.63 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Bank and Grayscale is -0.63. Overlapping area represents the amount of risk that can be diversified away by holding Bank Mandiri Persero and Grayscale Zcash Trust in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Grayscale Zcash Trust 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 Grayscale Zcash. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Grayscale Zcash Trust has no effect on the direction of Bank Mandiri i.e., Bank Mandiri and Grayscale Zcash go up and down completely randomly.
Pair Corralation between Bank Mandiri and Grayscale Zcash
Assuming the 90 days horizon Bank Mandiri Persero is expected to under-perform the Grayscale Zcash. But the pink sheet apears to be less risky and, when comparing its historical volatility, Bank Mandiri Persero is 2.31 times less risky than Grayscale Zcash. The pink sheet trades about -0.05 of its potential returns per unit of risk. The Grayscale Zcash Trust is currently generating about 0.18 of returns per unit of risk over similar time horizon. If you would invest 441.00 in Grayscale Zcash Trust on September 23, 2024 and sell it today you would earn a total of 176.00 from holding Grayscale Zcash Trust or generate 39.91% 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. Grayscale Zcash Trust
Performance |
| Timeline |
| Bank Mandiri Persero |
| Grayscale Zcash Trust |
Bank Mandiri and Grayscale Zcash Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bank Mandiri and Grayscale Zcash
The main advantage of trading using opposite Bank Mandiri and Grayscale Zcash positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bank Mandiri position performs unexpectedly, Grayscale Zcash 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 Grayscale Zcash will offset losses from the drop in Grayscale Zcash's long position.| Bank Mandiri vs. Banco Bradesco SA | Bank Mandiri vs. Itau Unibanco Banco | Bank Mandiri vs. Lloyds Banking Group | Bank Mandiri vs. Deutsche Bank AG |
| Grayscale Zcash vs. SPENN Technology AS | Grayscale Zcash vs. OFX Group Ltd | Grayscale Zcash vs. Cypherpunk Holdings | Grayscale Zcash vs. Cathedra Bitcoin |
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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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