Correlation Between AFREXIMBANK and BAYPORT MANAGEMENT
Can any of the company-specific risk be diversified away by investing in both AFREXIMBANK and BAYPORT MANAGEMENT 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 AFREXIMBANK and BAYPORT MANAGEMENT into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between AFREXIMBANK and BAYPORT MANAGEMENT LTD, you can compare the effects of market volatilities on AFREXIMBANK and BAYPORT MANAGEMENT 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 AFREXIMBANK with a short position of BAYPORT MANAGEMENT. Check out your portfolio center. Please also check ongoing floating volatility patterns of AFREXIMBANK and BAYPORT MANAGEMENT.
Diversification Opportunities for AFREXIMBANK and BAYPORT MANAGEMENT
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between AFREXIMBANK and BAYPORT is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding AFREXIMBANK and BAYPORT MANAGEMENT LTD in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BAYPORT MANAGEMENT LTD and AFREXIMBANK 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 AFREXIMBANK are associated (or correlated) with BAYPORT MANAGEMENT. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BAYPORT MANAGEMENT LTD has no effect on the direction of AFREXIMBANK i.e., AFREXIMBANK and BAYPORT MANAGEMENT go up and down completely randomly.
Pair Corralation between AFREXIMBANK and BAYPORT MANAGEMENT
If you would invest 270.00 in AFREXIMBANK on November 5, 2024 and sell it today you would earn a total of 0.00 from holding AFREXIMBANK or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
AFREXIMBANK vs. BAYPORT MANAGEMENT LTD
Performance |
| Timeline |
| AFREXIMBANK |
| BAYPORT MANAGEMENT LTD |
AFREXIMBANK and BAYPORT MANAGEMENT Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AFREXIMBANK and BAYPORT MANAGEMENT
The main advantage of trading using opposite AFREXIMBANK and BAYPORT MANAGEMENT positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AFREXIMBANK position performs unexpectedly, BAYPORT MANAGEMENT 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 BAYPORT MANAGEMENT will offset losses from the drop in BAYPORT MANAGEMENT's long position.| AFREXIMBANK vs. QUALITY BEVERAGES LTD | AFREXIMBANK vs. NATIONAL INVESTMENT TRUST | AFREXIMBANK vs. PHOENIX INVESTMENT PANY | AFREXIMBANK vs. FINCORP INVESTMENT LTD |
| BAYPORT MANAGEMENT vs. HOTELEST LTD | BAYPORT MANAGEMENT vs. AFREXIMBANK | BAYPORT MANAGEMENT vs. CIM FINANCIAL SERVICES | BAYPORT MANAGEMENT vs. AGAPE GLOBAL INVESTMENTS |
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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