Correlation Between Aftermaster and Goliath Film
Can any of the company-specific risk be diversified away by investing in both Aftermaster and Goliath Film 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 Aftermaster and Goliath Film into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Aftermaster and Goliath Film and, you can compare the effects of market volatilities on Aftermaster and Goliath Film 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 Aftermaster with a short position of Goliath Film. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aftermaster and Goliath Film.
Diversification Opportunities for Aftermaster and Goliath Film
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Aftermaster and Goliath is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Aftermaster and Goliath Film and in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Goliath Film and Aftermaster 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 Aftermaster are associated (or correlated) with Goliath Film. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Goliath Film has no effect on the direction of Aftermaster i.e., Aftermaster and Goliath Film go up and down completely randomly.
Pair Corralation between Aftermaster and Goliath Film
Given the investment horizon of 90 days Aftermaster is expected to generate 0.91 times more return on investment than Goliath Film. However, Aftermaster is 1.1 times less risky than Goliath Film. It trades about 0.03 of its potential returns per unit of risk. Goliath Film and is currently generating about 0.02 per unit of risk. If you would invest 0.01 in Aftermaster on August 29, 2024 and sell it today you would earn a total of 0.00 from holding Aftermaster 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 |
Aftermaster vs. Goliath Film and
Performance |
| Timeline |
| Aftermaster |
| Goliath Film |
Aftermaster and Goliath Film Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Aftermaster and Goliath Film
The main advantage of trading using opposite Aftermaster and Goliath Film positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aftermaster position performs unexpectedly, Goliath Film 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 Goliath Film will offset losses from the drop in Goliath Film's long position.| Aftermaster vs. American Picture House | Aftermaster vs. Anghami Warrants | Aftermaster vs. Maxx Sports TV |
| Goliath Film vs. Bank Rakyat | Goliath Film vs. PT Bank Rakyat | Goliath Film vs. Samsung Electronics Co | Goliath Film vs. Bank Mandiri Persero |
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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
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