Correlation Between AGMA LAHLOU and ATTIJARIWAFA BANK
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By analyzing existing cross correlation between AGMA LAHLOU TAZI and ATTIJARIWAFA BANK, you can compare the effects of market volatilities on AGMA LAHLOU and ATTIJARIWAFA BANK 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 AGMA LAHLOU with a short position of ATTIJARIWAFA BANK. Check out your portfolio center. Please also check ongoing floating volatility patterns of AGMA LAHLOU and ATTIJARIWAFA BANK.
Diversification Opportunities for AGMA LAHLOU and ATTIJARIWAFA BANK
0.48 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between AGMA and ATTIJARIWAFA is 0.48. Overlapping area represents the amount of risk that can be diversified away by holding AGMA LAHLOU TAZI and ATTIJARIWAFA BANK in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ATTIJARIWAFA BANK and AGMA LAHLOU 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 AGMA LAHLOU TAZI are associated (or correlated) with ATTIJARIWAFA BANK. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ATTIJARIWAFA BANK has no effect on the direction of AGMA LAHLOU i.e., AGMA LAHLOU and ATTIJARIWAFA BANK go up and down completely randomly.
Pair Corralation between AGMA LAHLOU and ATTIJARIWAFA BANK
Assuming the 90 days trading horizon AGMA LAHLOU TAZI is expected to under-perform the ATTIJARIWAFA BANK. In addition to that, AGMA LAHLOU is 2.84 times more volatile than ATTIJARIWAFA BANK. It trades about -0.06 of its total potential returns per unit of risk. ATTIJARIWAFA BANK is currently generating about 0.33 per unit of volatility. If you would invest 61,490 in ATTIJARIWAFA BANK on November 28, 2024 and sell it today you would earn a total of 4,510 from holding ATTIJARIWAFA BANK or generate 7.33% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 95.65% |
| Values | Daily Returns |
AGMA LAHLOU TAZI vs. ATTIJARIWAFA BANK
Performance |
| Timeline |
| AGMA LAHLOU TAZI |
| ATTIJARIWAFA BANK |
AGMA LAHLOU and ATTIJARIWAFA BANK Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AGMA LAHLOU and ATTIJARIWAFA BANK
The main advantage of trading using opposite AGMA LAHLOU and ATTIJARIWAFA BANK positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AGMA LAHLOU position performs unexpectedly, ATTIJARIWAFA BANK 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 ATTIJARIWAFA BANK will offset losses from the drop in ATTIJARIWAFA BANK's long position.The idea behind AGMA LAHLOU TAZI and ATTIJARIWAFA BANK pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.| ATTIJARIWAFA BANK vs. MAROC LEASING | ATTIJARIWAFA BANK vs. CFG BANK | ATTIJARIWAFA BANK vs. MICRODATA | ATTIJARIWAFA BANK vs. HIGHTECH PAYMENT SYSTEMS |
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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
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