Correlation Between ANT and Swelect Energy
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By analyzing existing cross correlation between ANT and Swelect Energy Systems, you can compare the effects of market volatilities on ANT and Swelect Energy 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 ANT with a short position of Swelect Energy. Check out your portfolio center. Please also check ongoing floating volatility patterns of ANT and Swelect Energy.
Diversification Opportunities for ANT and Swelect Energy
0.06 | Correlation Coefficient |
Significant diversification
The 3 months correlation between ANT and Swelect is 0.06. Overlapping area represents the amount of risk that can be diversified away by holding ANT and Swelect Energy Systems in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Swelect Energy Systems and ANT 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 ANT are associated (or correlated) with Swelect Energy. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Swelect Energy Systems has no effect on the direction of ANT i.e., ANT and Swelect Energy go up and down completely randomly.
Pair Corralation between ANT and Swelect Energy
Assuming the 90 days trading horizon ANT is expected to generate 20.47 times more return on investment than Swelect Energy. However, ANT is 20.47 times more volatile than Swelect Energy Systems. It trades about 0.12 of its potential returns per unit of risk. Swelect Energy Systems is currently generating about 0.0 per unit of risk. If you would invest 933.00 in ANT on October 12, 2024 and sell it today you would lose (786.00) from holding ANT or give up 84.24% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 90.76% |
| Values | Daily Returns |
ANT vs. Swelect Energy Systems
Performance |
| Timeline |
| ANT |
| Swelect Energy Systems |
ANT and Swelect Energy Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ANT and Swelect Energy
The main advantage of trading using opposite ANT and Swelect Energy positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ANT position performs unexpectedly, Swelect Energy 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 Swelect Energy will offset losses from the drop in Swelect Energy's long position.The idea behind ANT and Swelect Energy Systems 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.| Swelect Energy vs. Kingfa Science Technology | Swelect Energy vs. Rico Auto Industries | Swelect Energy vs. GACM Technologies Limited | Swelect Energy vs. COSMO FIRST LIMITED |
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 Stocks Directory module to find actively traded stocks across global markets.
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