Correlation Between Coreshares Index and Afine Investments
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By analyzing existing cross correlation between Coreshares Index Tracker and Afine Investments, you can compare the effects of market volatilities on Coreshares Index and Afine Investments 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 Coreshares Index with a short position of Afine Investments. Check out your portfolio center. Please also check ongoing floating volatility patterns of Coreshares Index and Afine Investments.
Diversification Opportunities for Coreshares Index and Afine Investments
-0.51 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Coreshares and Afine is -0.51. Overlapping area represents the amount of risk that can be diversified away by holding Coreshares Index Tracker and Afine Investments in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Afine Investments and Coreshares Index 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 Coreshares Index Tracker are associated (or correlated) with Afine Investments. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Afine Investments has no effect on the direction of Coreshares Index i.e., Coreshares Index and Afine Investments go up and down completely randomly.
Pair Corralation between Coreshares Index and Afine Investments
If you would invest 40,000 in Afine Investments on August 24, 2024 and sell it today you would earn a total of 0.00 from holding Afine Investments or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 95.65% |
| Values | Daily Returns |
Coreshares Index Tracker vs. Afine Investments
Performance |
| Timeline |
| Coreshares Index Tracker |
| Afine Investments |
Coreshares Index and Afine Investments Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Coreshares Index and Afine Investments
The main advantage of trading using opposite Coreshares Index and Afine Investments positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Coreshares Index position performs unexpectedly, Afine Investments 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 Afine Investments will offset losses from the drop in Afine Investments' long position.| Coreshares Index vs. Europa Metals | Coreshares Index vs. British American Tobacco | Coreshares Index vs. Kap Industrial Holdings | Coreshares Index vs. Anglo American Platinum |
| Afine Investments vs. Schroder European Real | Afine Investments vs. Centaur Bci Balanced | Afine Investments vs. Sabvest Capital | Afine Investments vs. Growthpoint Properties |
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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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