Correlation Between Anghami Warrants and Able View
Can any of the company-specific risk be diversified away by investing in both Anghami Warrants and Able View 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 Anghami Warrants and Able View into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Anghami Warrants and Able View Global, you can compare the effects of market volatilities on Anghami Warrants and Able View 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 Anghami Warrants with a short position of Able View. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anghami Warrants and Able View.
Diversification Opportunities for Anghami Warrants and Able View
-0.36 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Anghami and Able is -0.36. Overlapping area represents the amount of risk that can be diversified away by holding Anghami Warrants and Able View Global in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Able View Global and Anghami Warrants 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 Anghami Warrants are associated (or correlated) with Able View. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Able View Global has no effect on the direction of Anghami Warrants i.e., Anghami Warrants and Able View go up and down completely randomly.
Pair Corralation between Anghami Warrants and Able View
Assuming the 90 days horizon Anghami Warrants is expected to under-perform the Able View. In addition to that, Anghami Warrants is 1.22 times more volatile than Able View Global. It trades about -0.09 of its total potential returns per unit of risk. Able View Global is currently generating about 0.22 per unit of volatility. If you would invest 77.00 in Able View Global on November 3, 2024 and sell it today you would earn a total of 28.00 from holding Able View Global or generate 36.36% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 90.48% |
| Values | Daily Returns |
Anghami Warrants vs. Able View Global
Performance |
| Timeline |
| Anghami Warrants |
| Able View Global |
Anghami Warrants and Able View Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anghami Warrants and Able View
The main advantage of trading using opposite Anghami Warrants and Able View positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anghami Warrants position performs unexpectedly, Able View 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 Able View will offset losses from the drop in Able View's long position.| Anghami Warrants vs. Anghami De | Anghami Warrants vs. Thayer Ventures Acquisition | Anghami Warrants vs. Inspirato |
| Able View vs. Centessa Pharmaceuticals PLC | Able View vs. Valneva SE ADR | Able View vs. Analog Devices | Able View vs. Senmiao Technology |
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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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