Correlation Between AFROMEDIA PLC and MULTI TREX
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By analyzing existing cross correlation between AFROMEDIA PLC and MULTI TREX INTEGRATED FOODS, you can compare the effects of market volatilities on AFROMEDIA PLC and MULTI TREX 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 AFROMEDIA PLC with a short position of MULTI TREX. Check out your portfolio center. Please also check ongoing floating volatility patterns of AFROMEDIA PLC and MULTI TREX.
Diversification Opportunities for AFROMEDIA PLC and MULTI TREX
-1.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between AFROMEDIA and MULTI is -1.0. Overlapping area represents the amount of risk that can be diversified away by holding AFROMEDIA PLC and MULTI TREX INTEGRATED FOODS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MULTI TREX INTEGRATED and AFROMEDIA PLC 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 AFROMEDIA PLC are associated (or correlated) with MULTI TREX. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MULTI TREX INTEGRATED has no effect on the direction of AFROMEDIA PLC i.e., AFROMEDIA PLC and MULTI TREX go up and down completely randomly.
Pair Corralation between AFROMEDIA PLC and MULTI TREX
If you would invest 20.00 in AFROMEDIA PLC on November 5, 2024 and sell it today you would earn a total of 4.00 from holding AFROMEDIA PLC or generate 20.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Strong |
| Accuracy | 87.65% |
| Values | Daily Returns |
AFROMEDIA PLC vs. MULTI TREX INTEGRATED FOODS
Performance |
| Timeline |
| AFROMEDIA PLC |
| MULTI TREX INTEGRATED |
AFROMEDIA PLC and MULTI TREX Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AFROMEDIA PLC and MULTI TREX
The main advantage of trading using opposite AFROMEDIA PLC and MULTI TREX positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AFROMEDIA PLC position performs unexpectedly, MULTI TREX 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 MULTI TREX will offset losses from the drop in MULTI TREX's long position.| AFROMEDIA PLC vs. NEM INSURANCE PLC | AFROMEDIA PLC vs. UNION HOMES REAL | AFROMEDIA PLC vs. ASO SAVINGS AND | AFROMEDIA PLC vs. BUA FOODS PLC |
| MULTI TREX vs. CORNERSTONE INSURANCE PLC | MULTI TREX vs. AIICO INSURANCE PLC | MULTI TREX vs. INTERNATIONAL ENERGY INSURANCE | MULTI TREX vs. FIDELITY BANK PLC |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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