Correlation Between Anglo American and Centaur Bci
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By analyzing existing cross correlation between Anglo American Platinum and Centaur Bci Balanced, you can compare the effects of market volatilities on Anglo American and Centaur Bci 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 Anglo American with a short position of Centaur Bci. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anglo American and Centaur Bci.
Diversification Opportunities for Anglo American and Centaur Bci
-0.14 | Correlation Coefficient |
Good diversification
The 3 months correlation between Anglo and Centaur is -0.14. Overlapping area represents the amount of risk that can be diversified away by holding Anglo American Platinum and Centaur Bci Balanced in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Centaur Bci Balanced and Anglo American 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 Anglo American Platinum are associated (or correlated) with Centaur Bci. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Centaur Bci Balanced has no effect on the direction of Anglo American i.e., Anglo American and Centaur Bci go up and down completely randomly.
Pair Corralation between Anglo American and Centaur Bci
Assuming the 90 days trading horizon Anglo American Platinum is expected to generate 4.33 times more return on investment than Centaur Bci. However, Anglo American is 4.33 times more volatile than Centaur Bci Balanced. It trades about 0.05 of its potential returns per unit of risk. Centaur Bci Balanced is currently generating about -0.01 per unit of risk. If you would invest 5,957,490 in Anglo American Platinum on January 27, 2025 and sell it today you would earn a total of 343,810 from holding Anglo American Platinum or generate 5.77% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Anglo American Platinum vs. Centaur Bci Balanced
Performance |
| Timeline |
| Anglo American Platinum |
| Centaur Bci Balanced |
Anglo American and Centaur Bci Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anglo American and Centaur Bci
The main advantage of trading using opposite Anglo American and Centaur Bci positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anglo American position performs unexpectedly, Centaur Bci 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 Centaur Bci will offset losses from the drop in Centaur Bci's long position.| Anglo American vs. Frontier Transport Holdings | Anglo American vs. RCL Foods | Anglo American vs. Astral Foods | Anglo American vs. Trematon Capital Investments |
| Centaur Bci vs. 4d Bci Moderate | Centaur Bci vs. Discovery Aggressive Dynamic | Centaur Bci vs. Bci Best Blend | Centaur Bci vs. Denker SCI Balanced |
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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
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