Correlation Between Centaur Bci and Custodian BCI
Specify exactly 2 symbols:
By analyzing existing cross correlation between Centaur Bci Balanced and Custodian BCI Balanced, you can compare the effects of market volatilities on Centaur Bci and Custodian 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 Centaur Bci with a short position of Custodian BCI. Check out your portfolio center. Please also check ongoing floating volatility patterns of Centaur Bci and Custodian BCI.
Diversification Opportunities for Centaur Bci and Custodian BCI
0.88 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Centaur and Custodian is 0.88. Overlapping area represents the amount of risk that can be diversified away by holding Centaur Bci Balanced and Custodian BCI Balanced in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Custodian BCI Balanced and Centaur Bci 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 Centaur Bci Balanced are associated (or correlated) with Custodian BCI. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Custodian BCI Balanced has no effect on the direction of Centaur Bci i.e., Centaur Bci and Custodian BCI go up and down completely randomly.
Pair Corralation between Centaur Bci and Custodian BCI
Assuming the 90 days trading horizon Centaur Bci Balanced is expected to generate 1.05 times more return on investment than Custodian BCI. However, Centaur Bci is 1.05 times more volatile than Custodian BCI Balanced. It trades about 0.13 of its potential returns per unit of risk. Custodian BCI Balanced is currently generating about 0.1 per unit of risk. If you would invest 197.00 in Centaur Bci Balanced on September 12, 2024 and sell it today you would earn a total of 48.00 from holding Centaur Bci Balanced or generate 24.37% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 99.39% |
| Values | Daily Returns |
Centaur Bci Balanced vs. Custodian BCI Balanced
Performance |
| Timeline |
| Centaur Bci Balanced |
| Custodian BCI Balanced |
Centaur Bci and Custodian BCI Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Centaur Bci and Custodian BCI
The main advantage of trading using opposite Centaur Bci and Custodian BCI positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Centaur Bci position performs unexpectedly, Custodian 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 Custodian BCI will offset losses from the drop in Custodian BCI's long position.| Centaur Bci vs. NewFunds Low Volatility | Centaur Bci vs. Sasol Ltd Bee | Centaur Bci vs. Coronation Global Equity | Centaur Bci vs. AfricaRhodium ETF |
| Custodian BCI vs. 4d Bci Moderate | Custodian BCI vs. Coronation Global Optimum | Custodian BCI vs. Absa Multi managed Absolute | Custodian BCI vs. Coronation Balanced 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 Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
Other Complementary Tools
| Price Exposure Probability Analyze equity upside and downside potential for a given time horizon across multiple markets | |
| Performance Analysis Check effects of mean-variance optimization against your current asset allocation | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets |