Correlation Between ASTORIA INVESTMENT and NEW MAURITIUS

Specify exactly 2 symbols:
Can any of the company-specific risk be diversified away by investing in both ASTORIA INVESTMENT and NEW MAURITIUS 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 ASTORIA INVESTMENT and NEW MAURITIUS into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between ASTORIA INVESTMENT LTD and NEW MAURITIUS HOTELS, you can compare the effects of market volatilities on ASTORIA INVESTMENT and NEW MAURITIUS 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 ASTORIA INVESTMENT with a short position of NEW MAURITIUS. Check out your portfolio center. Please also check ongoing floating volatility patterns of ASTORIA INVESTMENT and NEW MAURITIUS.

Diversification Opportunities for ASTORIA INVESTMENT and NEW MAURITIUS

0.0
  Correlation Coefficient

Pay attention - limited upside

The 3 months correlation between ASTORIA and NEW is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding ASTORIA INVESTMENT LTD and NEW MAURITIUS HOTELS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on NEW MAURITIUS HOTELS and ASTORIA INVESTMENT 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 ASTORIA INVESTMENT LTD are associated (or correlated) with NEW MAURITIUS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NEW MAURITIUS HOTELS has no effect on the direction of ASTORIA INVESTMENT i.e., ASTORIA INVESTMENT and NEW MAURITIUS go up and down completely randomly.

Pair Corralation between ASTORIA INVESTMENT and NEW MAURITIUS

If you would invest  32.00  in ASTORIA INVESTMENT LTD on November 4, 2024 and sell it today you would earn a total of  0.00  from holding ASTORIA INVESTMENT LTD or generate 0.0% return on investment over 90 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

ASTORIA INVESTMENT LTD  vs.  NEW MAURITIUS HOTELS

 Performance 
       Timeline  
ASTORIA INVESTMENT LTD 

Risk-Adjusted Performance

0 of 100

 
Weak
 
Strong
Very Weak
Over the last 90 days ASTORIA INVESTMENT LTD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound technical and fundamental indicators, ASTORIA INVESTMENT is not utilizing all of its potentials. The latest stock price tumult, may contribute to shorter-term losses for the shareholders.
NEW MAURITIUS HOTELS 

Risk-Adjusted Performance

0 of 100

 
Weak
 
Strong
Very Weak
Over the last 90 days NEW MAURITIUS HOTELS has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong essential indicators, NEW MAURITIUS is not utilizing all of its potentials. The latest stock price disturbance, may contribute to short-term losses for the investors.

ASTORIA INVESTMENT and NEW MAURITIUS Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with ASTORIA INVESTMENT and NEW MAURITIUS

The main advantage of trading using opposite ASTORIA INVESTMENT and NEW MAURITIUS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ASTORIA INVESTMENT position performs unexpectedly, NEW MAURITIUS 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 NEW MAURITIUS will offset losses from the drop in NEW MAURITIUS's long position.
ASTORIA INVESTMENT vs. FINCORP INVESTMENT LTD
ASTORIA INVESTMENT vs. MCB GROUP LIMITED
ASTORIA INVESTMENT vs. MCB GROUP LTD
ASTORIA INVESTMENT vs. LOTTOTECH LTD
The idea behind ASTORIA INVESTMENT LTD and NEW MAURITIUS HOTELS 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.
NEW MAURITIUS vs. FINCORP INVESTMENT LTD
NEW MAURITIUS vs. MCB GROUP LIMITED
NEW MAURITIUS vs. MCB GROUP LTD
NEW MAURITIUS vs. LOTTOTECH LTD
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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.

Other Complementary Tools

Premium Stories
Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope
Sign In To Macroaxis
Sign in to explore Macroaxis' wealth optimization platform and fintech modules
Portfolio Manager
State of the art Portfolio Manager to monitor and improve performance of your invested capital
Commodity Directory
Find actively traded commodities issued by global exchanges
Equity Search
Search for actively traded equities including funds and ETFs from over 30 global markets


 
Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY