Correlation Between ATLANTIC LITHIUM and CAMELOT GHANA
Can any of the company-specific risk be diversified away by investing in both ATLANTIC LITHIUM and CAMELOT GHANA 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 ATLANTIC LITHIUM and CAMELOT GHANA into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between ATLANTIC LITHIUM LTD and CAMELOT GHANA LTD, you can compare the effects of market volatilities on ATLANTIC LITHIUM and CAMELOT GHANA 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 ATLANTIC LITHIUM with a short position of CAMELOT GHANA. Check out your portfolio center. Please also check ongoing floating volatility patterns of ATLANTIC LITHIUM and CAMELOT GHANA.
Diversification Opportunities for ATLANTIC LITHIUM and CAMELOT GHANA
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between ATLANTIC and CAMELOT is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding ATLANTIC LITHIUM LTD and CAMELOT GHANA LTD in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CAMELOT GHANA LTD and ATLANTIC LITHIUM 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 ATLANTIC LITHIUM LTD are associated (or correlated) with CAMELOT GHANA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CAMELOT GHANA LTD has no effect on the direction of ATLANTIC LITHIUM i.e., ATLANTIC LITHIUM and CAMELOT GHANA go up and down completely randomly.
Pair Corralation between ATLANTIC LITHIUM and CAMELOT GHANA
If you would invest 14.00 in CAMELOT GHANA LTD on November 29, 2024 and sell it today you would earn a total of 0.00 from holding CAMELOT GHANA LTD or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
ATLANTIC LITHIUM LTD vs. CAMELOT GHANA LTD
Performance |
| Timeline |
| ATLANTIC LITHIUM LTD |
| CAMELOT GHANA LTD |
ATLANTIC LITHIUM and CAMELOT GHANA Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ATLANTIC LITHIUM and CAMELOT GHANA
The main advantage of trading using opposite ATLANTIC LITHIUM and CAMELOT GHANA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ATLANTIC LITHIUM position performs unexpectedly, CAMELOT GHANA 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 CAMELOT GHANA will offset losses from the drop in CAMELOT GHANA's long position.| ATLANTIC LITHIUM vs. AGRICULTURAL DEVELOPMENT BANK | ATLANTIC LITHIUM vs. SIC INSURANCE ANY | ATLANTIC LITHIUM vs. GUINNESS GHANA BREWERIES | ATLANTIC LITHIUM vs. STANDARD CHARTERED BANK |
| CAMELOT GHANA vs. DANNEX AYRTON STARWIN | CAMELOT GHANA vs. REPUBLIC BANK LIMITED | CAMELOT GHANA vs. ACCESS BANK GHANA | CAMELOT GHANA vs. DIGICUT ADVERTISING PRODUCTION |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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