Correlation Between Allan Gray and Centaur Bci
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By analyzing existing cross correlation between Allan Gray Equity and Centaur Bci Balanced, you can compare the effects of market volatilities on Allan Gray and Centaur Bci 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 Allan Gray with a short position of Centaur Bci. Check out your portfolio center. Please also check ongoing floating volatility patterns of Allan Gray and Centaur Bci.
Diversification Opportunities for Allan Gray and Centaur Bci
0.25 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Allan and Centaur is 0.25. Overlapping area represents the amount of risk that can be diversified away by holding Allan Gray Equity and Centaur Bci Balanced in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Centaur Bci Balanced and Allan Gray 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 Allan Gray Equity are associated (or correlated) with Centaur Bci. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Centaur Bci Balanced has no effect on the direction of Allan Gray i.e., Allan Gray and Centaur Bci go up and down completely randomly.
Pair Corralation between Allan Gray and Centaur Bci
Assuming the 90 days trading horizon Allan Gray Equity is expected to under-perform the Centaur Bci. In addition to that, Allan Gray is 2.45 times more volatile than Centaur Bci Balanced. It trades about -0.07 of its total potential returns per unit of risk. Centaur Bci Balanced is currently generating about 0.13 per unit of volatility. If you would invest 239.00 in Centaur Bci Balanced on September 3, 2024 and sell it today you would earn a total of 2.00 from holding Centaur Bci Balanced or generate 0.84% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Allan Gray Equity vs. Centaur Bci Balanced
Performance |
| Timeline |
| Allan Gray Equity |
| Centaur Bci Balanced |
Allan Gray and Centaur Bci Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Allan Gray and Centaur Bci
The main advantage of trading using opposite Allan Gray and Centaur Bci positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Allan Gray position performs unexpectedly, Centaur Bci 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 Centaur Bci will offset losses from the drop in Centaur Bci's long position.| Allan Gray vs. 4d Bci Moderate | Allan Gray vs. Coronation Global Optimum | Allan Gray vs. Discovery Aggressive Dynamic | Allan Gray vs. Bci Best Blend |
| Centaur Bci vs. Sasol Ltd Bee | Centaur Bci vs. Sabvest Capital | Centaur Bci vs. Growthpoint Properties | Centaur Bci vs. Coronation Global Equity |
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 Portfolio Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
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