Correlation Between Bank Mandiri and Blue Whale
Can any of the company-specific risk be diversified away by investing in both Bank Mandiri and Blue Whale 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 Blue Whale 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 Blue Whale Acquisition, you can compare the effects of market volatilities on Bank Mandiri and Blue Whale 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 Blue Whale. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bank Mandiri and Blue Whale.
Diversification Opportunities for Bank Mandiri and Blue Whale
-0.86 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Bank and Blue is -0.86. Overlapping area represents the amount of risk that can be diversified away by holding Bank Mandiri Persero and Blue Whale Acquisition in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Blue Whale Acquisition 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 Blue Whale. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Blue Whale Acquisition has no effect on the direction of Bank Mandiri i.e., Bank Mandiri and Blue Whale go up and down completely randomly.
Pair Corralation between Bank Mandiri and Blue Whale
If you would invest 1,018 in Blue Whale Acquisition on September 13, 2024 and sell it today you would earn a total of 0.00 from holding Blue Whale Acquisition or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 4.76% |
| Values | Daily Returns |
Bank Mandiri Persero vs. Blue Whale Acquisition
Performance |
| Timeline |
| Bank Mandiri Persero |
| Blue Whale Acquisition |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Bank Mandiri and Blue Whale Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bank Mandiri and Blue Whale
The main advantage of trading using opposite Bank Mandiri and Blue Whale positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bank Mandiri position performs unexpectedly, Blue Whale 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 Blue Whale will offset losses from the drop in Blue Whale's long position.| Bank Mandiri vs. Bank Rakyat | Bank Mandiri vs. Eurobank Ergasias Services | Bank Mandiri vs. Nedbank Group | Bank Mandiri vs. Standard Bank Group |
| Blue Whale vs. Mars Acquisition Corp | Blue Whale vs. Israel Acquisitions Corp | Blue Whale vs. Golden Star Acquisition | Blue Whale vs. Welsbach Technology Metals |
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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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