Correlation Between EA Technique and Public Bank
Can any of the company-specific risk be diversified away by investing in both EA Technique and Public Bank 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 EA Technique and Public Bank into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between EA Technique M and Public Bank Bhd, you can compare the effects of market volatilities on EA Technique and Public Bank 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 EA Technique with a short position of Public Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of EA Technique and Public Bank.
Diversification Opportunities for EA Technique and Public Bank
0.16 | Correlation Coefficient |
Average diversification
The 3 months correlation between 5259 and Public is 0.16. Overlapping area represents the amount of risk that can be diversified away by holding EA Technique M and Public Bank Bhd in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Public Bank Bhd and EA Technique 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 EA Technique M are associated (or correlated) with Public Bank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Public Bank Bhd has no effect on the direction of EA Technique i.e., EA Technique and Public Bank go up and down completely randomly.
Pair Corralation between EA Technique and Public Bank
If you would invest 30.00 in EA Technique M on August 28, 2024 and sell it today you would earn a total of 0.00 from holding EA Technique M or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
EA Technique M vs. Public Bank Bhd
Performance |
| Timeline |
| EA Technique M |
| Public Bank Bhd |
EA Technique and Public Bank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with EA Technique and Public Bank
The main advantage of trading using opposite EA Technique and Public Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if EA Technique position performs unexpectedly, Public Bank 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 Public Bank will offset losses from the drop in Public Bank's long position.| EA Technique vs. HeiTech Padu Bhd | EA Technique vs. Lysaght Galvanized Steel | EA Technique vs. Digistar Bhd | EA Technique vs. Swift Haulage Bhd |
| Public Bank vs. Nova Wellness Group | Public Bank vs. Central Industrial Corp | Public Bank vs. Tex Cycle Technology | Public Bank vs. CPE Technology Berhad |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
Other Complementary Tools
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| Money Managers Screen money managers from public funds and ETFs managed around the world | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| ETFs Find actively traded Exchange Traded Funds (ETF) from around the world |