Correlation Between CFG BANK and M2M GROUP
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By analyzing existing cross correlation between CFG BANK and M2M GROUP, you can compare the effects of market volatilities on CFG BANK and M2M GROUP 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 CFG BANK with a short position of M2M GROUP. Check out your portfolio center. Please also check ongoing floating volatility patterns of CFG BANK and M2M GROUP.
Diversification Opportunities for CFG BANK and M2M GROUP
Pay attention - limited upside
The 3 months correlation between CFG and M2M is -0.71. Overlapping area represents the amount of risk that can be diversified away by holding CFG BANK and M2M GROUP in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on M2M GROUP and CFG 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 CFG BANK are associated (or correlated) with M2M GROUP. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of M2M GROUP has no effect on the direction of CFG BANK i.e., CFG BANK and M2M GROUP go up and down completely randomly.
Pair Corralation between CFG BANK and M2M GROUP
Assuming the 90 days trading horizon CFG BANK is expected to under-perform the M2M GROUP. But the stock apears to be less risky and, when comparing its historical volatility, CFG BANK is 2.21 times less risky than M2M GROUP. The stock trades about -0.09 of its potential returns per unit of risk. The M2M GROUP is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest 53,000 in M2M GROUP on December 2, 2024 and sell it today you would earn a total of 3,400 from holding M2M GROUP or generate 6.42% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
CFG BANK vs. M2M GROUP
Performance |
| Timeline |
| CFG BANK |
| M2M GROUP |
CFG BANK and M2M GROUP Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CFG BANK and M2M GROUP
The main advantage of trading using opposite CFG BANK and M2M GROUP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CFG BANK position performs unexpectedly, M2M GROUP 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 M2M GROUP will offset losses from the drop in M2M GROUP's long position.| CFG BANK vs. CREDIT IMMOBILIER ET | ||
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| M2M GROUP vs. MICRODATA | ||
| M2M GROUP vs. CREDIT IMMOBILIER ET | ||
| M2M GROUP vs. ATTIJARIWAFA BANK | ||
| M2M GROUP vs. HIGHTECH PAYMENT SYSTEMS |
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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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