Correlation Between Afya and OCPMR
Specify exactly 2 symbols:
By analyzing existing cross correlation between Afya and OCPMR 45 22 OCT 25, you can compare the effects of market volatilities on Afya and OCPMR 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 Afya with a short position of OCPMR. Check out your portfolio center. Please also check ongoing floating volatility patterns of Afya and OCPMR.
Diversification Opportunities for Afya and OCPMR
Weak diversification
The 3 months correlation between Afya and OCPMR is 0.3. Overlapping area represents the amount of risk that can be diversified away by holding Afya and OCPMR 45 22 OCT 25 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on OCPMR 45 22 and Afya 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 Afya are associated (or correlated) with OCPMR. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of OCPMR 45 22 has no effect on the direction of Afya i.e., Afya and OCPMR go up and down completely randomly.
Pair Corralation between Afya and OCPMR
Given the investment horizon of 90 days Afya is expected to under-perform the OCPMR. In addition to that, Afya is 6.21 times more volatile than OCPMR 45 22 OCT 25. It trades about -0.06 of its total potential returns per unit of risk. OCPMR 45 22 OCT 25 is currently generating about 0.67 per unit of volatility. If you would invest 9,825 in OCPMR 45 22 OCT 25 on September 1, 2024 and sell it today you would earn a total of 97.00 from holding OCPMR 45 22 OCT 25 or generate 0.99% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 19.05% |
| Values | Daily Returns |
Afya vs. OCPMR 45 22 OCT 25
Performance |
| Timeline |
| Afya |
| OCPMR 45 22 |
Afya and OCPMR Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Afya and OCPMR
The main advantage of trading using opposite Afya and OCPMR positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Afya position performs unexpectedly, OCPMR 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 OCPMR will offset losses from the drop in OCPMR's long position.| Afya vs. Adtalem Global Education | Afya vs. Laureate Education | Afya vs. American Public Education | Afya vs. Strategic Education |
| OCPMR vs. Four Seasons Education | OCPMR vs. Afya | OCPMR vs. FormFactor | OCPMR vs. Zane Interactive Publishing |
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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
Other Complementary Tools
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios | |
| Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios | |
| Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing |