Correlation Between MHP Hotel and ALTAIR RES
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By analyzing existing cross correlation between MHP Hotel AG and ALTAIR RES INC, you can compare the effects of market volatilities on MHP Hotel and ALTAIR RES 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 MHP Hotel with a short position of ALTAIR RES. Check out your portfolio center. Please also check ongoing floating volatility patterns of MHP Hotel and ALTAIR RES.
Diversification Opportunities for MHP Hotel and ALTAIR RES
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between MHP and ALTAIR is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding MHP Hotel AG and ALTAIR RES INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ALTAIR RES INC and MHP Hotel 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 MHP Hotel AG are associated (or correlated) with ALTAIR RES. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ALTAIR RES INC has no effect on the direction of MHP Hotel i.e., MHP Hotel and ALTAIR RES go up and down completely randomly.
Pair Corralation between MHP Hotel and ALTAIR RES
If you would invest 120.00 in MHP Hotel AG on October 18, 2024 and sell it today you would earn a total of 6.00 from holding MHP Hotel AG or generate 5.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 94.12% |
| Values | Daily Returns |
MHP Hotel AG vs. ALTAIR RES INC
Performance |
| Timeline |
| MHP Hotel AG |
| ALTAIR RES INC |
MHP Hotel and ALTAIR RES Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MHP Hotel and ALTAIR RES
The main advantage of trading using opposite MHP Hotel and ALTAIR RES positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MHP Hotel position performs unexpectedly, ALTAIR RES 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 ALTAIR RES will offset losses from the drop in ALTAIR RES's long position.| MHP Hotel vs. Brockhaus Capital Management | MHP Hotel vs. Coor Service Management | MHP Hotel vs. MCEWEN MINING INC | MHP Hotel vs. AGF Management Limited |
| ALTAIR RES vs. De Grey Mining | ALTAIR RES vs. MHP Hotel AG | ALTAIR RES vs. DALATA HOTEL | ALTAIR RES vs. Pebblebrook Hotel Trust |
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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
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