Correlation Between Monalisa Group and Dow Jones
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By analyzing existing cross correlation between Monalisa Group Co and Dow Jones Industrial, you can compare the effects of market volatilities on Monalisa Group and Dow Jones 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 Monalisa Group with a short position of Dow Jones. Check out your portfolio center. Please also check ongoing floating volatility patterns of Monalisa Group and Dow Jones.
Diversification Opportunities for Monalisa Group and Dow Jones
-0.35 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Monalisa and Dow is -0.35. Overlapping area represents the amount of risk that can be diversified away by holding Monalisa Group Co and Dow Jones Industrial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dow Jones Industrial and Monalisa Group 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 Monalisa Group Co are associated (or correlated) with Dow Jones. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dow Jones Industrial has no effect on the direction of Monalisa Group i.e., Monalisa Group and Dow Jones go up and down completely randomly.
Pair Corralation between Monalisa Group and Dow Jones
Assuming the 90 days trading horizon Monalisa Group Co is expected to generate 8.09 times more return on investment than Dow Jones. However, Monalisa Group is 8.09 times more volatile than Dow Jones Industrial. It trades about 0.02 of its potential returns per unit of risk. Dow Jones Industrial is currently generating about 0.11 per unit of risk. If you would invest 1,017 in Monalisa Group Co on October 21, 2024 and sell it today you would lose (15.00) from holding Monalisa Group Co or give up 1.47% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
Monalisa Group Co vs. Dow Jones Industrial
Performance |
| Timeline |
Monalisa Group and Dow Jones Volatility Contrast
Predicted Return Density |
| Returns |
Monalisa Group Co
Pair trading matchups for Monalisa Group
Dow Jones Industrial
Pair trading matchups for Dow Jones
Pair Trading with Monalisa Group and Dow Jones
The main advantage of trading using opposite Monalisa Group and Dow Jones positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Monalisa Group position performs unexpectedly, Dow Jones 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 Dow Jones will offset losses from the drop in Dow Jones' long position.| Monalisa Group vs. Agricultural Bank of | Monalisa Group vs. Industrial and Commercial | Monalisa Group vs. Bank of China | Monalisa Group vs. China Construction Bank |
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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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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