Correlation Between ONETECH SOLUTIONS and CIMB Group
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By analyzing existing cross correlation between ONETECH SOLUTIONS HOLDINGS and CIMB Group Holdings, you can compare the effects of market volatilities on ONETECH SOLUTIONS and CIMB Group 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 ONETECH SOLUTIONS with a short position of CIMB Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of ONETECH SOLUTIONS and CIMB Group.
Diversification Opportunities for ONETECH SOLUTIONS and CIMB Group
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between ONETECH and CIMB is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding ONETECH SOLUTIONS HOLDINGS and CIMB Group Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CIMB Group Holdings and ONETECH SOLUTIONS 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 ONETECH SOLUTIONS HOLDINGS are associated (or correlated) with CIMB Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CIMB Group Holdings has no effect on the direction of ONETECH SOLUTIONS i.e., ONETECH SOLUTIONS and CIMB Group go up and down completely randomly.
Pair Corralation between ONETECH SOLUTIONS and CIMB Group
If you would invest 799.00 in CIMB Group Holdings on August 31, 2024 and sell it today you would earn a total of 26.00 from holding CIMB Group Holdings or generate 3.25% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
ONETECH SOLUTIONS HOLDINGS vs. CIMB Group Holdings
Performance |
| Timeline |
| ONETECH SOLUTIONS |
| CIMB Group Holdings |
ONETECH SOLUTIONS and CIMB Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ONETECH SOLUTIONS and CIMB Group
The main advantage of trading using opposite ONETECH SOLUTIONS and CIMB Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ONETECH SOLUTIONS position performs unexpectedly, CIMB Group 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 CIMB Group will offset losses from the drop in CIMB Group's long position.| ONETECH SOLUTIONS vs. Homeritz Bhd | ONETECH SOLUTIONS vs. Cloudpoint Technology Berhad | ONETECH SOLUTIONS vs. Silver Ridge Holdings | ONETECH SOLUTIONS vs. Media Prima Bhd |
| CIMB Group vs. KPJ Healthcare Bhd | CIMB Group vs. IHH Healthcare Bhd | CIMB Group vs. Apex Healthcare Bhd | CIMB Group vs. TAS Offshore Bhd |
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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