Correlation Between ATTIJARIWAFA BANK and MICRODATA
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By analyzing existing cross correlation between ATTIJARIWAFA BANK and MICRODATA, you can compare the effects of market volatilities on ATTIJARIWAFA BANK and MICRODATA 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 ATTIJARIWAFA BANK with a short position of MICRODATA. Check out your portfolio center. Please also check ongoing floating volatility patterns of ATTIJARIWAFA BANK and MICRODATA.
Diversification Opportunities for ATTIJARIWAFA BANK and MICRODATA
-0.32 | Correlation Coefficient |
Very good diversification
The 3 months correlation between ATTIJARIWAFA and MICRODATA is -0.32. Overlapping area represents the amount of risk that can be diversified away by holding ATTIJARIWAFA BANK and MICRODATA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MICRODATA and ATTIJARIWAFA BANK 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 ATTIJARIWAFA BANK are associated (or correlated) with MICRODATA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MICRODATA has no effect on the direction of ATTIJARIWAFA BANK i.e., ATTIJARIWAFA BANK and MICRODATA go up and down completely randomly.
Pair Corralation between ATTIJARIWAFA BANK and MICRODATA
Assuming the 90 days trading horizon ATTIJARIWAFA BANK is expected to generate 0.67 times more return on investment than MICRODATA. However, ATTIJARIWAFA BANK is 1.49 times less risky than MICRODATA. It trades about 0.21 of its potential returns per unit of risk. MICRODATA is currently generating about 0.03 per unit of risk. If you would invest 54,500 in ATTIJARIWAFA BANK on August 30, 2024 and sell it today you would earn a total of 2,810 from holding ATTIJARIWAFA BANK or generate 5.16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
ATTIJARIWAFA BANK vs. MICRODATA
Performance |
| Timeline |
| ATTIJARIWAFA BANK |
| MICRODATA |
ATTIJARIWAFA BANK and MICRODATA Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ATTIJARIWAFA BANK and MICRODATA
The main advantage of trading using opposite ATTIJARIWAFA BANK and MICRODATA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ATTIJARIWAFA BANK position performs unexpectedly, MICRODATA 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 MICRODATA will offset losses from the drop in MICRODATA's long position.| ATTIJARIWAFA BANK vs. MICRODATA | ATTIJARIWAFA BANK vs. CFG BANK | ATTIJARIWAFA BANK vs. AGMA LAHLOU TAZI | ATTIJARIWAFA BANK vs. INVOLYS |
| MICRODATA vs. CFG BANK | MICRODATA vs. AGMA LAHLOU TAZI | MICRODATA vs. INVOLYS | MICRODATA vs. MAROC LEASING |
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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
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