Correlation Between Coronation Global and Coronation Bond
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By analyzing existing cross correlation between Coronation Global Optimum and Coronation Bond, you can compare the effects of market volatilities on Coronation Global 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 Global with a short position of Coronation Bond. Check out your portfolio center. Please also check ongoing floating volatility patterns of Coronation Global and Coronation Bond.
Diversification Opportunities for Coronation Global 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 Global Optimum and Coronation Bond in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Coronation Bond and Coronation Global 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 Global Optimum 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 Global i.e., Coronation Global and Coronation Bond go up and down completely randomly.
Pair Corralation between Coronation Global and Coronation Bond
If you would invest 17,194 in Coronation Global Optimum on September 2, 2024 and sell it today you would earn a total of 751.00 from holding Coronation Global Optimum or generate 4.37% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Coronation Global Optimum vs. Coronation Bond
Performance |
| Timeline |
| Coronation Global Optimum |
| Coronation Bond |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Coronation Global and Coronation Bond Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Coronation Global and Coronation Bond
The main advantage of trading using opposite Coronation Global and Coronation Bond positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Coronation Global 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 Global vs. Sasol Ltd Bee | Coronation Global vs. Centaur Bci Balanced | Coronation Global vs. Sabvest Capital | Coronation Global vs. Growthpoint Properties |
| 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 CEOs Directory module to screen CEOs from public companies around the world.
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