Correlation Between Commercial International and Ismailia Misr
Can any of the company-specific risk be diversified away by investing in both Commercial International and Ismailia Misr at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Commercial International and Ismailia Misr into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Commercial International Bank Egypt and Ismailia Misr Poultry, you can compare the effects of market volatilities on Commercial International and Ismailia Misr 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 Commercial International with a short position of Ismailia Misr. Check out your portfolio center. Please also check ongoing floating volatility patterns of Commercial International and Ismailia Misr.
Diversification Opportunities for Commercial International and Ismailia Misr
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Commercial and Ismailia is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Commercial International Bank and Ismailia Misr Poultry in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ismailia Misr Poultry and Commercial International 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 Commercial International Bank Egypt are associated (or correlated) with Ismailia Misr. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ismailia Misr Poultry has no effect on the direction of Commercial International i.e., Commercial International and Ismailia Misr go up and down completely randomly.
Pair Corralation between Commercial International and Ismailia Misr
If you would invest 4,840 in Commercial International Bank Egypt on October 30, 2024 and sell it today you would earn a total of 2,810 from holding Commercial International Bank Egypt or generate 58.06% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Commercial International Bank vs. Ismailia Misr Poultry
Performance |
| Timeline |
| Commercial International |
| Ismailia Misr Poultry |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Commercial International and Ismailia Misr Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Commercial International and Ismailia Misr
The main advantage of trading using opposite Commercial International and Ismailia Misr positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Commercial International position performs unexpectedly, Ismailia Misr 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 Ismailia Misr will offset losses from the drop in Ismailia Misr's long position.| Commercial International vs. Inter Cairo For Aluminum | Commercial International vs. Arab Aluminum | Commercial International vs. Egyptian Gulf Bank | Commercial International vs. Cairo Oils Soap |
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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 File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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