Correlation Between Bank Mandiri and Semantix
Can any of the company-specific risk be diversified away by investing in both Bank Mandiri and Semantix 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 Semantix 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 Semantix, you can compare the effects of market volatilities on Bank Mandiri and Semantix 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 Semantix. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bank Mandiri and Semantix.
Diversification Opportunities for Bank Mandiri and Semantix
0.67 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Bank and Semantix is 0.67. Overlapping area represents the amount of risk that can be diversified away by holding Bank Mandiri Persero and Semantix in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Semantix 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 Semantix. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Semantix has no effect on the direction of Bank Mandiri i.e., Bank Mandiri and Semantix go up and down completely randomly.
Pair Corralation between Bank Mandiri and Semantix
If you would invest 4.20 in Semantix on September 3, 2024 and sell it today you would earn a total of 0.00 from holding Semantix or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 5.0% |
| Values | Daily Returns |
Bank Mandiri Persero vs. Semantix
Performance |
| Timeline |
| Bank Mandiri Persero |
| Semantix |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Bank Mandiri and Semantix Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bank Mandiri and Semantix
The main advantage of trading using opposite Bank Mandiri and Semantix positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bank Mandiri position performs unexpectedly, Semantix 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 Semantix will offset losses from the drop in Semantix'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 |
| Semantix vs. Research Solutions | Semantix vs. Rayont Inc | Semantix vs. Shotspotter | Semantix vs. Issuer Direct 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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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