Correlation Between Coronation Balanced and Coronation Bond
Specify exactly 2 symbols:
By analyzing existing cross correlation between Coronation Balanced Plus and Coronation Bond, you can compare the effects of market volatilities on Coronation Balanced and Coronation Bond 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 Coronation Balanced with a short position of Coronation Bond. Check out your portfolio center. Please also check ongoing floating volatility patterns of Coronation Balanced and Coronation Bond.
Diversification Opportunities for Coronation Balanced and Coronation Bond
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Coronation and Coronation is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Coronation Balanced Plus and Coronation Bond in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Coronation Bond and Coronation Balanced 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 Coronation Balanced Plus are associated (or correlated) with Coronation Bond. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Coronation Bond has no effect on the direction of Coronation Balanced i.e., Coronation Balanced and Coronation Bond go up and down completely randomly.
Pair Corralation between Coronation Balanced and Coronation Bond
If you would invest 14,026 in Coronation Balanced Plus on September 4, 2024 and sell it today you would earn a total of 2,287 from holding Coronation Balanced Plus or generate 16.31% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Coronation Balanced Plus vs. Coronation Bond
Performance |
| Timeline |
| Coronation Balanced Plus |
| Coronation Bond |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Coronation Balanced and Coronation Bond Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Coronation Balanced and Coronation Bond
The main advantage of trading using opposite Coronation Balanced and Coronation Bond positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Coronation Balanced position performs unexpectedly, Coronation Bond 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 Coronation Bond will offset losses from the drop in Coronation Bond's long position.| Coronation Balanced vs. Coronation Global Optimum | Coronation Balanced vs. Coronation Industrial | Coronation Balanced vs. Coronation Capital Plus | Coronation Balanced vs. Coronation Global Equity |
| Coronation Bond vs. Coronation Balanced Plus | Coronation Bond vs. Coronation Industrial | Coronation Bond vs. Coronation Capital Plus | Coronation Bond 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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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