Correlation Between CFG BANK and MAROC LEASING
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By analyzing existing cross correlation between CFG BANK and MAROC LEASING, you can compare the effects of market volatilities on CFG BANK and MAROC LEASING 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 MAROC LEASING. Check out your portfolio center. Please also check ongoing floating volatility patterns of CFG BANK and MAROC LEASING.
Diversification Opportunities for CFG BANK and MAROC LEASING
-0.17 | Correlation Coefficient |
Good diversification
The 3 months correlation between CFG and MAROC is -0.17. Overlapping area represents the amount of risk that can be diversified away by holding CFG BANK and MAROC LEASING in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MAROC LEASING 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 MAROC LEASING. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MAROC LEASING has no effect on the direction of CFG BANK i.e., CFG BANK and MAROC LEASING go up and down completely randomly.
Pair Corralation between CFG BANK and MAROC LEASING
Assuming the 90 days trading horizon CFG BANK is expected to under-perform the MAROC LEASING. But the stock apears to be less risky and, when comparing its historical volatility, CFG BANK is 1.46 times less risky than MAROC LEASING. The stock trades about -0.08 of its potential returns per unit of risk. The MAROC LEASING is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest 37,000 in MAROC LEASING on December 3, 2024 and sell it today you would earn a total of 1,600 from holding MAROC LEASING or generate 4.32% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
CFG BANK vs. MAROC LEASING
Performance |
| Timeline |
| CFG BANK |
| MAROC LEASING |
CFG BANK and MAROC LEASING Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CFG BANK and MAROC LEASING
The main advantage of trading using opposite CFG BANK and MAROC LEASING positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CFG BANK position performs unexpectedly, MAROC LEASING 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 MAROC LEASING will offset losses from the drop in MAROC LEASING's long position.| CFG BANK vs. BANK OF AFRICA | ||
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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 Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.
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