Correlation Between FRACTAL GAMING and MHP Hotel
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By analyzing existing cross correlation between FRACTAL GAMING GROUP and MHP Hotel AG, you can compare the effects of market volatilities on FRACTAL GAMING and MHP Hotel 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 FRACTAL GAMING with a short position of MHP Hotel. Check out your portfolio center. Please also check ongoing floating volatility patterns of FRACTAL GAMING and MHP Hotel.
Diversification Opportunities for FRACTAL GAMING and MHP Hotel
-0.26 | Correlation Coefficient |
Very good diversification
The 3 months correlation between FRACTAL and MHP is -0.26. Overlapping area represents the amount of risk that can be diversified away by holding FRACTAL GAMING GROUP and MHP Hotel AG in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MHP Hotel AG and FRACTAL GAMING 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 FRACTAL GAMING GROUP are associated (or correlated) with MHP Hotel. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MHP Hotel AG has no effect on the direction of FRACTAL GAMING i.e., FRACTAL GAMING and MHP Hotel go up and down completely randomly.
Pair Corralation between FRACTAL GAMING and MHP Hotel
Assuming the 90 days horizon FRACTAL GAMING GROUP is expected to under-perform the MHP Hotel. But the stock apears to be less risky and, when comparing its historical volatility, FRACTAL GAMING GROUP is 2.67 times less risky than MHP Hotel. The stock trades about -0.23 of its potential returns per unit of risk. The MHP Hotel AG is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest 113.00 in MHP Hotel AG on September 3, 2024 and sell it today you would earn a total of 6.00 from holding MHP Hotel AG or generate 5.31% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
FRACTAL GAMING GROUP vs. MHP Hotel AG
Performance |
| Timeline |
| FRACTAL GAMING GROUP |
| MHP Hotel AG |
FRACTAL GAMING and MHP Hotel Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with FRACTAL GAMING and MHP Hotel
The main advantage of trading using opposite FRACTAL GAMING and MHP Hotel positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FRACTAL GAMING position performs unexpectedly, MHP Hotel 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 MHP Hotel will offset losses from the drop in MHP Hotel's long position.| FRACTAL GAMING vs. H FARM SPA | FRACTAL GAMING vs. STORE ELECTRONIC | FRACTAL GAMING vs. ELECTRONIC ARTS | FRACTAL GAMING vs. DAIRY FARM INTL |
| MHP Hotel vs. CANASIL RESOURCES | MHP Hotel vs. Gossan Resources | MHP Hotel vs. DevEx Resources Limited | MHP Hotel vs. KTL GLOBAL |
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 Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
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