Correlation Between BB Liquidating and Anghami Warrants
Can any of the company-specific risk be diversified away by investing in both BB Liquidating 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 BB Liquidating and Anghami Warrants into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between BB Liquidating B and Anghami Warrants, you can compare the effects of market volatilities on BB Liquidating 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 BB Liquidating with a short position of Anghami Warrants. Check out your portfolio center. Please also check ongoing floating volatility patterns of BB Liquidating and Anghami Warrants.
Diversification Opportunities for BB Liquidating and Anghami Warrants
0.52 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between BLIBQ and Anghami is 0.52. Overlapping area represents the amount of risk that can be diversified away by holding BB Liquidating B and Anghami Warrants in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anghami Warrants and BB Liquidating 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 BB Liquidating B 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 BB Liquidating i.e., BB Liquidating and Anghami Warrants go up and down completely randomly.
Pair Corralation between BB Liquidating and Anghami Warrants
If you would invest 3.93 in Anghami Warrants on August 31, 2024 and sell it today you would earn a total of 0.07 from holding Anghami Warrants or generate 1.78% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 9.09% |
| Values | Daily Returns |
BB Liquidating B vs. Anghami Warrants
Performance |
| Timeline |
| BB Liquidating B |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Anghami Warrants |
BB Liquidating and Anghami Warrants Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BB Liquidating and Anghami Warrants
The main advantage of trading using opposite BB Liquidating and Anghami Warrants positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BB Liquidating 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.| BB Liquidating vs. QYOU Media | BB Liquidating vs. Fox Corp Class | BB Liquidating vs. Paramount Global Class | BB Liquidating vs. Live Current Media |
| Anghami Warrants vs. News Corp B | Anghami Warrants vs. Fox Corp Class | Anghami Warrants vs. AMC Networks | Anghami Warrants vs. Marcus |
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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
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