Correlation Between CAFCA and Revitus Property
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By analyzing existing cross correlation between CAFCA LIMITED and Revitus Property Opportunities, you can compare the effects of market volatilities on CAFCA and Revitus Property 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 CAFCA with a short position of Revitus Property. Check out your portfolio center. Please also check ongoing floating volatility patterns of CAFCA and Revitus Property.
Diversification Opportunities for CAFCA and Revitus Property
0.21 | Correlation Coefficient |
Modest diversification
The 3 months correlation between CAFCA and Revitus is 0.21. Overlapping area represents the amount of risk that can be diversified away by holding CAFCA LIMITED and Revitus Property Opportunities in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Revitus Property Opp and CAFCA 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 CAFCA LIMITED are associated (or correlated) with Revitus Property. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Revitus Property Opp has no effect on the direction of CAFCA i.e., CAFCA and Revitus Property go up and down completely randomly.
Pair Corralation between CAFCA and Revitus Property
Assuming the 90 days trading horizon CAFCA LIMITED is expected to generate 1.3 times more return on investment than Revitus Property. However, CAFCA is 1.3 times more volatile than Revitus Property Opportunities. It trades about 0.3 of its potential returns per unit of risk. Revitus Property Opportunities is currently generating about -0.14 per unit of risk. If you would invest 156,000 in CAFCA LIMITED on August 30, 2024 and sell it today you would earn a total of 49,000 from holding CAFCA LIMITED or generate 31.41% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 95.65% |
| Values | Daily Returns |
CAFCA LIMITED vs. Revitus Property Opportunities
Performance |
| Timeline |
| CAFCA LIMITED |
| Revitus Property Opp |
CAFCA and Revitus Property Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CAFCA and Revitus Property
The main advantage of trading using opposite CAFCA and Revitus Property positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CAFCA position performs unexpectedly, Revitus Property 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 Revitus Property will offset losses from the drop in Revitus Property's long position.| CAFCA vs. FIRST MUTUAL PROPERTIES | CAFCA vs. BRITISH AMERICAN TOBACCO | CAFCA vs. TANGANDA TEA PANY | CAFCA vs. ZB FINANCIAL HOLDINGS |
| Revitus Property vs. FIRST MUTUAL PROPERTIES | Revitus Property vs. BRITISH AMERICAN TOBACCO | Revitus Property vs. TANGANDA TEA PANY | Revitus Property vs. ZB FINANCIAL HOLDINGS |
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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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