Correlation Between Postal Savings and Mango Excellent
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By analyzing existing cross correlation between Postal Savings Bank and Mango Excellent Media, you can compare the effects of market volatilities on Postal Savings and Mango Excellent 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 Postal Savings with a short position of Mango Excellent. Check out your portfolio center. Please also check ongoing floating volatility patterns of Postal Savings and Mango Excellent.
Diversification Opportunities for Postal Savings and Mango Excellent
-0.06 | Correlation Coefficient |
Good diversification
The 3 months correlation between Postal and Mango is -0.06. Overlapping area represents the amount of risk that can be diversified away by holding Postal Savings Bank and Mango Excellent Media in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mango Excellent Media and Postal Savings 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 Postal Savings Bank are associated (or correlated) with Mango Excellent. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mango Excellent Media has no effect on the direction of Postal Savings i.e., Postal Savings and Mango Excellent go up and down completely randomly.
Pair Corralation between Postal Savings and Mango Excellent
Assuming the 90 days trading horizon Postal Savings Bank is expected to generate 0.91 times more return on investment than Mango Excellent. However, Postal Savings Bank is 1.1 times less risky than Mango Excellent. It trades about -0.04 of its potential returns per unit of risk. Mango Excellent Media is currently generating about -0.36 per unit of risk. If you would invest 547.00 in Postal Savings Bank on October 12, 2024 and sell it today you would lose (10.00) from holding Postal Savings Bank or give up 1.83% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Postal Savings Bank vs. Mango Excellent Media
Performance |
| Timeline |
| Postal Savings Bank |
| Mango Excellent Media |
Postal Savings and Mango Excellent Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Postal Savings and Mango Excellent
The main advantage of trading using opposite Postal Savings and Mango Excellent positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Postal Savings position performs unexpectedly, Mango Excellent 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 Mango Excellent will offset losses from the drop in Mango Excellent's long position.| Postal Savings vs. Industrial and Commercial | Postal Savings vs. China Construction Bank | Postal Savings vs. Agricultural Bank of | Postal Savings vs. Bank of China |
| Mango Excellent vs. Agricultural Bank of | Mango Excellent vs. Panda Financial Holding | Mango Excellent vs. Postal Savings Bank | Mango Excellent vs. China Everbright Bank |
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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
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