Correlation Between Mobilezone Holding and Allianz Technology
Can any of the company-specific risk be diversified away by investing in both Mobilezone Holding and Allianz Technology at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Mobilezone Holding and Allianz Technology into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between mobilezone holding AG and Allianz Technology Trust, you can compare the effects of market volatilities on Mobilezone Holding and Allianz Technology 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 Mobilezone Holding with a short position of Allianz Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mobilezone Holding and Allianz Technology.
Diversification Opportunities for Mobilezone Holding and Allianz Technology
-0.35 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Mobilezone and Allianz is -0.35. Overlapping area represents the amount of risk that can be diversified away by holding mobilezone holding AG and Allianz Technology Trust in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Allianz Technology Trust and Mobilezone Holding 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 mobilezone holding AG are associated (or correlated) with Allianz Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Allianz Technology Trust has no effect on the direction of Mobilezone Holding i.e., Mobilezone Holding and Allianz Technology go up and down completely randomly.
Pair Corralation between Mobilezone Holding and Allianz Technology
Assuming the 90 days trading horizon mobilezone holding AG is expected to generate 0.67 times more return on investment than Allianz Technology. However, mobilezone holding AG is 1.5 times less risky than Allianz Technology. It trades about 0.32 of its potential returns per unit of risk. Allianz Technology Trust is currently generating about -0.09 per unit of risk. If you would invest 1,142 in mobilezone holding AG on November 28, 2024 and sell it today you would earn a total of 97.00 from holding mobilezone holding AG or generate 8.49% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
mobilezone holding AG vs. Allianz Technology Trust
Performance |
| Timeline |
| mobilezone holding |
| Allianz Technology Trust |
Mobilezone Holding and Allianz Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mobilezone Holding and Allianz Technology
The main advantage of trading using opposite Mobilezone Holding and Allianz Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mobilezone Holding position performs unexpectedly, Allianz Technology 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 Allianz Technology will offset losses from the drop in Allianz Technology's long position.| Mobilezone Holding vs. Tatton Asset Management | Mobilezone Holding vs. BlackRock Frontiers Investment | Mobilezone Holding vs. Lowland Investment Co | Mobilezone Holding vs. Beeks Trading |
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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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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