Correlation Between Komercni Banka and Miton UK
Can any of the company-specific risk be diversified away by investing in both Komercni Banka and Miton UK 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 Komercni Banka and Miton UK into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Komercni Banka and Miton UK MicroCap, you can compare the effects of market volatilities on Komercni Banka and Miton UK 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 Komercni Banka with a short position of Miton UK. Check out your portfolio center. Please also check ongoing floating volatility patterns of Komercni Banka and Miton UK.
Diversification Opportunities for Komercni Banka and Miton UK
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Komercni and Miton is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Komercni Banka and Miton UK MicroCap in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Miton UK MicroCap and Komercni Banka 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 Komercni Banka are associated (or correlated) with Miton UK. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Miton UK MicroCap has no effect on the direction of Komercni Banka i.e., Komercni Banka and Miton UK go up and down completely randomly.
Pair Corralation between Komercni Banka and Miton UK
If you would invest 4,500 in Miton UK MicroCap on September 17, 2024 and sell it today you would earn a total of 50.00 from holding Miton UK MicroCap or generate 1.11% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Komercni Banka vs. Miton UK MicroCap
Performance |
| Timeline |
| Komercni Banka |
| Miton UK MicroCap |
Komercni Banka and Miton UK Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Komercni Banka and Miton UK
The main advantage of trading using opposite Komercni Banka and Miton UK positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Komercni Banka position performs unexpectedly, Miton UK 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 Miton UK will offset losses from the drop in Miton UK's long position.| Komercni Banka vs. Samsung Electronics Co | Komercni Banka vs. Samsung Electronics Co | Komercni Banka vs. Hyundai Motor | Komercni Banka vs. Reliance Industries Ltd |
| Miton UK vs. Synchrony Financial | Miton UK vs. Komercni Banka | Miton UK vs. Cembra Money Bank | Miton UK vs. mobilezone holding AG |
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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