Correlation Between Cairo For and EGX 33
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By analyzing existing cross correlation between Cairo For Investment and EGX 33 Shariah, you can compare the effects of market volatilities on Cairo For and EGX 33 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 Cairo For with a short position of EGX 33. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cairo For and EGX 33.
Diversification Opportunities for Cairo For and EGX 33
Good diversification
The 3 months correlation between Cairo and EGX is -0.16. Overlapping area represents the amount of risk that can be diversified away by holding Cairo For Investment and EGX 33 Shariah in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on EGX 33 Shariah and Cairo For 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 Cairo For Investment are associated (or correlated) with EGX 33. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EGX 33 Shariah has no effect on the direction of Cairo For i.e., Cairo For and EGX 33 go up and down completely randomly.
Pair Corralation between Cairo For and EGX 33
Assuming the 90 days trading horizon Cairo For Investment is expected to generate 2.56 times more return on investment than EGX 33. However, Cairo For is 2.56 times more volatile than EGX 33 Shariah. It trades about 0.27 of its potential returns per unit of risk. EGX 33 Shariah is currently generating about 0.0 per unit of risk. If you would invest 1,460 in Cairo For Investment on November 6, 2024 and sell it today you would earn a total of 179.00 from holding Cairo For Investment or generate 12.26% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cairo For Investment vs. EGX 33 Shariah
Performance |
| Timeline |
Cairo For and EGX 33 Volatility Contrast
Predicted Return Density |
| Returns |
Cairo For Investment
Pair trading matchups for Cairo For
EGX 33 Shariah
Pair trading matchups for EGX 33
Pair Trading with Cairo For and EGX 33
The main advantage of trading using opposite Cairo For and EGX 33 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cairo For position performs unexpectedly, EGX 33 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 EGX 33 will offset losses from the drop in EGX 33's long position.| Cairo For vs. Arab Aluminum | Cairo For vs. ODIN Investments | Cairo For vs. QALA For Financial | Cairo For vs. Odin for Investment |
| EGX 33 vs. Union National Bank | EGX 33 vs. Mohandes Insurance | EGX 33 vs. Act Financial | EGX 33 vs. Telecom Egypt |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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