Correlation Between AGF Management and MHP Hotel
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By analyzing existing cross correlation between AGF Management Limited and MHP Hotel AG, you can compare the effects of market volatilities on AGF Management 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 AGF Management with a short position of MHP Hotel. Check out your portfolio center. Please also check ongoing floating volatility patterns of AGF Management and MHP Hotel.
Diversification Opportunities for AGF Management and MHP Hotel
-0.06 | Correlation Coefficient |
Good diversification
The 3 months correlation between AGF and MHP is -0.06. Overlapping area represents the amount of risk that can be diversified away by holding AGF Management Limited 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 AGF Management 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 AGF Management Limited 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 AGF Management i.e., AGF Management and MHP Hotel go up and down completely randomly.
Pair Corralation between AGF Management and MHP Hotel
Assuming the 90 days horizon AGF Management Limited is expected to generate 0.8 times more return on investment than MHP Hotel. However, AGF Management Limited is 1.25 times less risky than MHP Hotel. It trades about 0.04 of its potential returns per unit of risk. MHP Hotel AG is currently generating about 0.01 per unit of risk. If you would invest 476.00 in AGF Management Limited on October 17, 2024 and sell it today you would earn a total of 199.00 from holding AGF Management Limited or generate 41.81% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.8% |
| Values | Daily Returns |
AGF Management Limited vs. MHP Hotel AG
Performance |
| Timeline |
| AGF Management |
| MHP Hotel AG |
AGF Management and MHP Hotel Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AGF Management and MHP Hotel
The main advantage of trading using opposite AGF Management and MHP Hotel positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AGF Management 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.| AGF Management vs. X FAB Silicon Foundries | AGF Management vs. SILICON LABORATOR | AGF Management vs. Siamgas And Petrochemicals | AGF Management vs. China Resources Beer |
| MHP Hotel vs. Brockhaus Capital Management | MHP Hotel vs. Coor Service Management | MHP Hotel vs. MCEWEN MINING INC | MHP Hotel vs. AGF Management Limited |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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