Correlation Between CFG BANK and MINIERE TOUISSIT
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By analyzing existing cross correlation between CFG BANK and MINIERE TOUISSIT, you can compare the effects of market volatilities on CFG BANK and MINIERE TOUISSIT 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 MINIERE TOUISSIT. Check out your portfolio center. Please also check ongoing floating volatility patterns of CFG BANK and MINIERE TOUISSIT.
Diversification Opportunities for CFG BANK and MINIERE TOUISSIT
0.05 | Correlation Coefficient |
Significant diversification
The 3 months correlation between CFG and MINIERE is 0.05. Overlapping area represents the amount of risk that can be diversified away by holding CFG BANK and MINIERE TOUISSIT in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MINIERE TOUISSIT 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 MINIERE TOUISSIT. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MINIERE TOUISSIT has no effect on the direction of CFG BANK i.e., CFG BANK and MINIERE TOUISSIT go up and down completely randomly.
Pair Corralation between CFG BANK and MINIERE TOUISSIT
Assuming the 90 days trading horizon CFG BANK is expected to generate 1.1 times more return on investment than MINIERE TOUISSIT. However, CFG BANK is 1.1 times more volatile than MINIERE TOUISSIT. It trades about 0.24 of its potential returns per unit of risk. MINIERE TOUISSIT is currently generating about 0.09 per unit of risk. If you would invest 20,010 in CFG BANK on September 15, 2024 and sell it today you would earn a total of 1,290 from holding CFG BANK or generate 6.45% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
CFG BANK vs. MINIERE TOUISSIT
Performance |
| Timeline |
| CFG BANK |
| MINIERE TOUISSIT |
CFG BANK and MINIERE TOUISSIT Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CFG BANK and MINIERE TOUISSIT
The main advantage of trading using opposite CFG BANK and MINIERE TOUISSIT positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CFG BANK position performs unexpectedly, MINIERE TOUISSIT 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 MINIERE TOUISSIT will offset losses from the drop in MINIERE TOUISSIT's long position.| CFG BANK vs. MICRODATA | CFG BANK vs. TGCC SA | CFG BANK vs. AGMA LAHLOU TAZI | CFG BANK vs. CREDIT IMMOBILIER ET |
| MINIERE TOUISSIT vs. MICRODATA | MINIERE TOUISSIT vs. TGCC SA | MINIERE TOUISSIT vs. CFG BANK | MINIERE TOUISSIT vs. AGMA LAHLOU TAZI |
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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
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