Correlation Between Cinda Securities and Monalisa Group
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By analyzing existing cross correlation between Cinda Securities Co and Monalisa Group Co, you can compare the effects of market volatilities on Cinda Securities and Monalisa Group 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 Cinda Securities with a short position of Monalisa Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cinda Securities and Monalisa Group.
Diversification Opportunities for Cinda Securities and Monalisa Group
0.95 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Cinda and Monalisa is 0.95. Overlapping area represents the amount of risk that can be diversified away by holding Cinda Securities Co and Monalisa Group Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Monalisa Group and Cinda Securities 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 Cinda Securities Co are associated (or correlated) with Monalisa Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Monalisa Group has no effect on the direction of Cinda Securities i.e., Cinda Securities and Monalisa Group go up and down completely randomly.
Pair Corralation between Cinda Securities and Monalisa Group
Assuming the 90 days trading horizon Cinda Securities Co is expected to under-perform the Monalisa Group. In addition to that, Cinda Securities is 1.49 times more volatile than Monalisa Group Co. It trades about -0.08 of its total potential returns per unit of risk. Monalisa Group Co is currently generating about -0.03 per unit of volatility. If you would invest 887.00 in Monalisa Group Co on August 29, 2024 and sell it today you would lose (15.00) from holding Monalisa Group Co or give up 1.69% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cinda Securities Co vs. Monalisa Group Co
Performance |
| Timeline |
| Cinda Securities |
| Monalisa Group |
Cinda Securities and Monalisa Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cinda Securities and Monalisa Group
The main advantage of trading using opposite Cinda Securities and Monalisa Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cinda Securities position performs unexpectedly, Monalisa Group 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 Monalisa Group will offset losses from the drop in Monalisa Group's long position.| Cinda Securities vs. Kweichow Moutai Co | Cinda Securities vs. Contemporary Amperex Technology | Cinda Securities vs. G bits Network Technology | Cinda Securities vs. BYD Co Ltd |
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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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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