Correlation Between Bank Mandiri and Mobiv Acquisition
Can any of the company-specific risk be diversified away by investing in both Bank Mandiri and Mobiv Acquisition 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 Mobiv Acquisition 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 Mobiv Acquisition Corp, you can compare the effects of market volatilities on Bank Mandiri and Mobiv Acquisition 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 Mobiv Acquisition. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bank Mandiri and Mobiv Acquisition.
Diversification Opportunities for Bank Mandiri and Mobiv Acquisition
-0.8 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Bank and Mobiv is -0.8. Overlapping area represents the amount of risk that can be diversified away by holding Bank Mandiri Persero and Mobiv Acquisition Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mobiv Acquisition Corp 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 Mobiv Acquisition. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mobiv Acquisition Corp has no effect on the direction of Bank Mandiri i.e., Bank Mandiri and Mobiv Acquisition go up and down completely randomly.
Pair Corralation between Bank Mandiri and Mobiv Acquisition
If you would invest 1,064 in Mobiv Acquisition Corp on September 1, 2024 and sell it today you would earn a total of 0.00 from holding Mobiv Acquisition Corp 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. Mobiv Acquisition Corp
Performance |
| Timeline |
| Bank Mandiri Persero |
| Mobiv Acquisition Corp |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Bank Mandiri and Mobiv Acquisition Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bank Mandiri and Mobiv Acquisition
The main advantage of trading using opposite Bank Mandiri and Mobiv Acquisition positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bank Mandiri position performs unexpectedly, Mobiv Acquisition 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 Mobiv Acquisition will offset losses from the drop in Mobiv Acquisition's 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 |
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.
Other Complementary Tools
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing | |
| Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon | |
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios | |
| Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. |