Correlation Between Allan Gray and Allan Gray
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By analyzing existing cross correlation between Allan Gray orbis Global and Allan Gray Equity, you can compare the effects of market volatilities on Allan Gray and Allan Gray 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 Allan Gray. Check out your portfolio center. Please also check ongoing floating volatility patterns of Allan Gray and Allan Gray.
Diversification Opportunities for Allan Gray and Allan Gray
0.62 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Allan and Allan is 0.62. Overlapping area represents the amount of risk that can be diversified away by holding Allan Gray orbis Global and Allan Gray Equity in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Allan Gray Equity 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 orbis Global are associated (or correlated) with Allan Gray. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Allan Gray Equity has no effect on the direction of Allan Gray i.e., Allan Gray and Allan Gray go up and down completely randomly.
Pair Corralation between Allan Gray and Allan Gray
Assuming the 90 days trading horizon Allan Gray orbis Global is expected to generate 1.3 times more return on investment than Allan Gray. However, Allan Gray is 1.3 times more volatile than Allan Gray Equity. It trades about 0.08 of its potential returns per unit of risk. Allan Gray Equity is currently generating about 0.07 per unit of risk. If you would invest 5,751 in Allan Gray orbis Global on September 12, 2024 and sell it today you would earn a total of 2,075 from holding Allan Gray orbis Global or generate 36.08% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Allan Gray orbis Global vs. Allan Gray Equity
Performance |
| Timeline |
| Allan Gray orbis |
| Allan Gray Equity |
Allan Gray and Allan Gray Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Allan Gray and Allan Gray
The main advantage of trading using opposite Allan Gray and Allan Gray positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Allan Gray position performs unexpectedly, Allan Gray 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 Allan Gray will offset losses from the drop in Allan Gray's long position.| Allan Gray vs. NewFunds Low Volatility | Allan Gray vs. Sasol Ltd Bee | Allan Gray vs. Centaur Bci Balanced | Allan Gray vs. Coronation Global Equity |
| Allan Gray vs. Allan Gray orbis Global | Allan Gray vs. Allan Gray | Allan Gray vs. Allan Gray Tax free | Allan Gray vs. 4d Bci Moderate |
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 Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
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