Correlation Between Cobas Global and Barings Global
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By analyzing existing cross correlation between Cobas Global PP and Barings Global Umbrella, you can compare the effects of market volatilities on Cobas Global and Barings Global 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 Cobas Global with a short position of Barings Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cobas Global and Barings Global.
Diversification Opportunities for Cobas Global and Barings Global
0.09 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Cobas and Barings is 0.09. Overlapping area represents the amount of risk that can be diversified away by holding Cobas Global PP and Barings Global Umbrella in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Barings Global Umbrella and Cobas 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 Cobas Global PP are associated (or correlated) with Barings Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Barings Global Umbrella has no effect on the direction of Cobas Global i.e., Cobas Global and Barings Global go up and down completely randomly.
Pair Corralation between Cobas Global and Barings Global
Assuming the 90 days trading horizon Cobas Global PP is expected to generate 150.67 times more return on investment than Barings Global. However, Cobas Global is 150.67 times more volatile than Barings Global Umbrella. It trades about 0.06 of its potential returns per unit of risk. Barings Global Umbrella is currently generating about 0.07 per unit of risk. If you would invest 9,269 in Cobas Global PP on September 3, 2024 and sell it today you would earn a total of 2,636 from holding Cobas Global PP or generate 28.44% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 99.41% |
| Values | Daily Returns |
Cobas Global PP vs. Barings Global Umbrella
Performance |
| Timeline |
| Cobas Global PP |
| Barings Global Umbrella |
Cobas Global and Barings Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cobas Global and Barings Global
The main advantage of trading using opposite Cobas Global and Barings Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cobas Global position performs unexpectedly, Barings Global 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 Barings Global will offset losses from the drop in Barings Global's long position.| Cobas Global vs. Esfera Robotics R | Cobas Global vs. R co Valor F | Cobas Global vs. CM AM Monplus NE | Cobas Global vs. IE00B0H4TS55 |
| Barings Global vs. Lyxor 1 | Barings Global vs. Xtrackers LevDAX | Barings Global vs. Xtrackers ShortDAX | Barings Global vs. Superior Plus Corp |
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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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