Correlation Between Centaur Bci and Remgro
Specify exactly 2 symbols:
By analyzing existing cross correlation between Centaur Bci Balanced and Remgro, you can compare the effects of market volatilities on Centaur Bci and Remgro 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 Remgro. Check out your portfolio center. Please also check ongoing floating volatility patterns of Centaur Bci and Remgro.
Diversification Opportunities for Centaur Bci and Remgro
0.8 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Centaur and Remgro is 0.8. Overlapping area represents the amount of risk that can be diversified away by holding Centaur Bci Balanced and Remgro in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Remgro 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 Remgro. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Remgro has no effect on the direction of Centaur Bci i.e., Centaur Bci and Remgro go up and down completely randomly.
Pair Corralation between Centaur Bci and Remgro
Assuming the 90 days trading horizon Centaur Bci Balanced is expected to generate 0.36 times more return on investment than Remgro. However, Centaur Bci Balanced is 2.82 times less risky than Remgro. It trades about 0.09 of its potential returns per unit of risk. Remgro is currently generating about 0.03 per unit of risk. If you would invest 195.00 in Centaur Bci Balanced on August 27, 2024 and sell it today you would earn a total of 47.00 from holding Centaur Bci Balanced or generate 24.1% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 98.89% |
| Values | Daily Returns |
Centaur Bci Balanced vs. Remgro
Performance |
| Timeline |
| Centaur Bci Balanced |
| Remgro |
Centaur Bci and Remgro Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Centaur Bci and Remgro
The main advantage of trading using opposite Centaur Bci and Remgro positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Centaur Bci position performs unexpectedly, Remgro 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 Remgro will offset losses from the drop in Remgro's long position.| Centaur Bci vs. Sabvest Capital | Centaur Bci vs. Growthpoint Properties | Centaur Bci vs. AfricaRhodium ETF | Centaur Bci vs. CoreShares Preference Share |
| Remgro vs. Centaur Bci Balanced | Remgro vs. Growthpoint Properties | Remgro vs. Bowler Metcalf | Remgro vs. Shoprite Holdings |
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
Other Complementary Tools
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine | |
| Analyst Advice Analyst recommendations and target price estimates broken down by several categories | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges |