Correlation Between Bank Mandiri and Aeglea Bio
Can any of the company-specific risk be diversified away by investing in both Bank Mandiri and Aeglea Bio 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 Aeglea Bio 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 Aeglea Bio Therapeutics, you can compare the effects of market volatilities on Bank Mandiri and Aeglea Bio 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 Aeglea Bio. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bank Mandiri and Aeglea Bio.
Diversification Opportunities for Bank Mandiri and Aeglea Bio
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Bank and Aeglea is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Bank Mandiri Persero and Aeglea Bio Therapeutics in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Aeglea Bio Therapeutics 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 Aeglea Bio. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Aeglea Bio Therapeutics has no effect on the direction of Bank Mandiri i.e., Bank Mandiri and Aeglea Bio go up and down completely randomly.
Pair Corralation between Bank Mandiri and Aeglea Bio
If you would invest (100.00) in Aeglea Bio Therapeutics on December 2, 2024 and sell it today you would earn a total of 100.00 from holding Aeglea Bio Therapeutics or generate -100.0% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 0.0% |
Values | Daily Returns |
Bank Mandiri Persero vs. Aeglea Bio Therapeutics
Performance |
Timeline |
Bank Mandiri Persero |
Aeglea Bio Therapeutics |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Bank Mandiri and Aeglea Bio Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Bank Mandiri and Aeglea Bio
The main advantage of trading using opposite Bank Mandiri and Aeglea Bio positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bank Mandiri position performs unexpectedly, Aeglea Bio 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 Aeglea Bio will offset losses from the drop in Aeglea Bio'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 |
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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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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