Correlation Between Coronation Capital and Coronation Bond
Specify exactly 2 symbols:
By analyzing existing cross correlation between Coronation Capital Plus and Coronation Bond, you can compare the effects of market volatilities on Coronation Capital 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 Capital with a short position of Coronation Bond. Check out your portfolio center. Please also check ongoing floating volatility patterns of Coronation Capital and Coronation Bond.
Diversification Opportunities for Coronation Capital 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 Capital 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 Capital 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 Capital 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 Capital i.e., Coronation Capital and Coronation Bond go up and down completely randomly.
Pair Corralation between Coronation Capital and Coronation Bond
If you would invest 5,518 in Coronation Capital Plus on September 2, 2024 and sell it today you would earn a total of 180.00 from holding Coronation Capital Plus or generate 3.26% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Coronation Capital Plus vs. Coronation Bond
Performance |
| Timeline |
| Coronation Capital Plus |
| Coronation Bond |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Coronation Capital and Coronation Bond Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Coronation Capital and Coronation Bond
The main advantage of trading using opposite Coronation Capital and Coronation Bond positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Coronation Capital 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 Capital vs. Coronation Global Optimum | Coronation Capital vs. Coronation Balanced Plus | Coronation Capital vs. Coronation Industrial | Coronation Capital vs. Coronation Global Equity |
| Coronation Bond vs. Coronation Global Optimum | Coronation Bond vs. Coronation Balanced Plus | Coronation Bond vs. Coronation Industrial | Coronation Bond vs. Coronation Capital Plus |
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 Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
Other Complementary Tools
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
| Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing | |
| Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios | |
| Equity Valuation Check real value of public entities based on technical and fundamental data | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities |