Correlation Between Mango Excellent and Financial Street
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By analyzing existing cross correlation between Mango Excellent Media and Financial Street Holdings, you can compare the effects of market volatilities on Mango Excellent and Financial Street 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 Mango Excellent with a short position of Financial Street. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mango Excellent and Financial Street.
Diversification Opportunities for Mango Excellent and Financial Street
0.76 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Mango and Financial is 0.76. Overlapping area represents the amount of risk that can be diversified away by holding Mango Excellent Media and Financial Street Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Financial Street Holdings and Mango Excellent 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 Mango Excellent Media are associated (or correlated) with Financial Street. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Financial Street Holdings has no effect on the direction of Mango Excellent i.e., Mango Excellent and Financial Street go up and down completely randomly.
Pair Corralation between Mango Excellent and Financial Street
Assuming the 90 days trading horizon Mango Excellent is expected to generate 1.16 times less return on investment than Financial Street. But when comparing it to its historical volatility, Mango Excellent Media is 1.2 times less risky than Financial Street. It trades about 0.05 of its potential returns per unit of risk. Financial Street Holdings is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest 258.00 in Financial Street Holdings on October 13, 2024 and sell it today you would earn a total of 42.00 from holding Financial Street Holdings or generate 16.28% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Mango Excellent Media vs. Financial Street Holdings
Performance |
| Timeline |
| Mango Excellent Media |
| Financial Street Holdings |
Mango Excellent and Financial Street Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mango Excellent and Financial Street
The main advantage of trading using opposite Mango Excellent and Financial Street positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mango Excellent position performs unexpectedly, Financial Street 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 Financial Street will offset losses from the drop in Financial Street's long position.| Mango Excellent vs. Agricultural Bank of | Mango Excellent vs. Panda Financial Holding | Mango Excellent vs. Postal Savings Bank | Mango Excellent vs. China Everbright Bank |
| Financial Street vs. Changchun UP Optotech | Financial Street vs. HanS Laser Tech | Financial Street vs. Holitech Technology Co | Financial Street vs. Jinhe Biotechnology Co |
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.
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