Correlation Between Bank Mandiri and Expion360
Can any of the company-specific risk be diversified away by investing in both Bank Mandiri and Expion360 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 Expion360 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 Expion360, you can compare the effects of market volatilities on Bank Mandiri and Expion360 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 Expion360. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bank Mandiri and Expion360.
Diversification Opportunities for Bank Mandiri and Expion360
-0.81 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Bank and Expion360 is -0.81. Overlapping area represents the amount of risk that can be diversified away by holding Bank Mandiri Persero and Expion360 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Expion360 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 Expion360. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Expion360 has no effect on the direction of Bank Mandiri i.e., Bank Mandiri and Expion360 go up and down completely randomly.
Pair Corralation between Bank Mandiri and Expion360
Assuming the 90 days horizon Bank Mandiri Persero is expected to generate 0.23 times more return on investment than Expion360. However, Bank Mandiri Persero is 4.41 times less risky than Expion360. It trades about 0.08 of its potential returns per unit of risk. Expion360 is currently generating about 0.0 per unit of risk. If you would invest 1,085 in Bank Mandiri Persero on September 11, 2025 and sell it today you would earn a total of 86.00 from holding Bank Mandiri Persero or generate 7.93% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Bank Mandiri Persero vs. Expion360
Performance |
| Timeline |
| Bank Mandiri Persero |
| Expion360 |
Bank Mandiri and Expion360 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bank Mandiri and Expion360
The main advantage of trading using opposite Bank Mandiri and Expion360 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bank Mandiri position performs unexpectedly, Expion360 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 Expion360 will offset losses from the drop in Expion360's long position.| Bank Mandiri vs. Malayan Banking Berhad | Bank Mandiri vs. Grupo Financiero Banorte | Bank Mandiri vs. Powszechna Kasa Oszczednosci | Bank Mandiri vs. Powszechna Kasa Oszczednosci |
| Expion360 vs. SUNation Energy | Expion360 vs. Addentax Group Corp | Expion360 vs. Urban Gro | Expion360 vs. Powerdyne International |
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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
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