Correlation Between MHP Hotel and ATLANTIC PETROLPF
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By analyzing existing cross correlation between MHP Hotel AG and ATLANTIC PETROLPF DK, you can compare the effects of market volatilities on MHP Hotel and ATLANTIC PETROLPF 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 ATLANTIC PETROLPF. Check out your portfolio center. Please also check ongoing floating volatility patterns of MHP Hotel and ATLANTIC PETROLPF.
Diversification Opportunities for MHP Hotel and ATLANTIC PETROLPF
-0.11 | Correlation Coefficient |
Good diversification
The 3 months correlation between MHP and ATLANTIC is -0.11. Overlapping area represents the amount of risk that can be diversified away by holding MHP Hotel AG and ATLANTIC PETROLPF DK in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ATLANTIC PETROLPF 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 ATLANTIC PETROLPF. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ATLANTIC PETROLPF has no effect on the direction of MHP Hotel i.e., MHP Hotel and ATLANTIC PETROLPF go up and down completely randomly.
Pair Corralation between MHP Hotel and ATLANTIC PETROLPF
Assuming the 90 days trading horizon MHP Hotel AG is expected to generate 0.75 times more return on investment than ATLANTIC PETROLPF. However, MHP Hotel AG is 1.33 times less risky than ATLANTIC PETROLPF. It trades about 0.09 of its potential returns per unit of risk. ATLANTIC PETROLPF DK is currently generating about -0.22 per unit of risk. If you would invest 113.00 in MHP Hotel AG on September 3, 2024 and sell it today you would earn a total of 6.00 from holding MHP Hotel AG or generate 5.31% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
MHP Hotel AG vs. ATLANTIC PETROLPF DK
Performance |
| Timeline |
| MHP Hotel AG |
| ATLANTIC PETROLPF |
MHP Hotel and ATLANTIC PETROLPF Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MHP Hotel and ATLANTIC PETROLPF
The main advantage of trading using opposite MHP Hotel and ATLANTIC PETROLPF positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MHP Hotel position performs unexpectedly, ATLANTIC PETROLPF 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 ATLANTIC PETROLPF will offset losses from the drop in ATLANTIC PETROLPF's long position.| MHP Hotel vs. CANASIL RESOURCES | MHP Hotel vs. Gossan Resources | MHP Hotel vs. DevEx Resources Limited | MHP Hotel vs. KTL GLOBAL |
| ATLANTIC PETROLPF vs. Alibaba Group Holding | ATLANTIC PETROLPF vs. Occidental Petroleum | ATLANTIC PETROLPF vs. Occidental Petroleum | ATLANTIC PETROLPF vs. WOODSIDE ENE SPADR |
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 Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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