Correlation Between AMC Preferred and Anghami Warrants
Can any of the company-specific risk be diversified away by investing in both AMC Preferred and Anghami Warrants 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 AMC Preferred and Anghami Warrants into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between AMC Preferred Units and Anghami Warrants, you can compare the effects of market volatilities on AMC Preferred and Anghami Warrants 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 AMC Preferred with a short position of Anghami Warrants. Check out your portfolio center. Please also check ongoing floating volatility patterns of AMC Preferred and Anghami Warrants.
Diversification Opportunities for AMC Preferred and Anghami Warrants
0.59 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between AMC and Anghami is 0.59. Overlapping area represents the amount of risk that can be diversified away by holding AMC Preferred Units and Anghami Warrants in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anghami Warrants and AMC Preferred 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 AMC Preferred Units are associated (or correlated) with Anghami Warrants. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anghami Warrants has no effect on the direction of AMC Preferred i.e., AMC Preferred and Anghami Warrants go up and down completely randomly.
Pair Corralation between AMC Preferred and Anghami Warrants
If you would invest 6.00 in Anghami Warrants on August 26, 2024 and sell it today you would lose (3.89) from holding Anghami Warrants or give up 64.83% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 0.63% |
| Values | Daily Returns |
AMC Preferred Units vs. Anghami Warrants
Performance |
| Timeline |
| AMC Preferred Units |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Anghami Warrants |
AMC Preferred and Anghami Warrants Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AMC Preferred and Anghami Warrants
The main advantage of trading using opposite AMC Preferred and Anghami Warrants positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AMC Preferred position performs unexpectedly, Anghami Warrants 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 Anghami Warrants will offset losses from the drop in Anghami Warrants' long position.| AMC Preferred vs. Netflix | AMC Preferred vs. Walt Disney | AMC Preferred vs. Roku Inc | AMC Preferred vs. Paramount Global Class |
| Anghami Warrants vs. ADTRAN Inc | Anghami Warrants vs. Belden Inc | Anghami Warrants vs. ADC Therapeutics SA | Anghami Warrants vs. Comtech Telecommunications Corp |
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 Portfolio Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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