Correlation Between Citicore Energy and Metropolitan Bank
Can any of the company-specific risk be diversified away by investing in both Citicore Energy and Metropolitan Bank 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 Citicore Energy and Metropolitan Bank into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Citicore Energy REIT and Metropolitan Bank Trust, you can compare the effects of market volatilities on Citicore Energy and Metropolitan Bank 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 Citicore Energy with a short position of Metropolitan Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citicore Energy and Metropolitan Bank.
Diversification Opportunities for Citicore Energy and Metropolitan Bank
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Citicore and Metropolitan is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Citicore Energy REIT and Metropolitan Bank Trust in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Metropolitan Bank Trust and Citicore Energy 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 Citicore Energy REIT are associated (or correlated) with Metropolitan Bank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Metropolitan Bank Trust has no effect on the direction of Citicore Energy i.e., Citicore Energy and Metropolitan Bank go up and down completely randomly.
Pair Corralation between Citicore Energy and Metropolitan Bank
If you would invest 7,235 in Metropolitan Bank Trust on August 31, 2024 and sell it today you would earn a total of 330.00 from holding Metropolitan Bank Trust or generate 4.56% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Citicore Energy REIT vs. Metropolitan Bank Trust
Performance |
| Timeline |
| Citicore Energy REIT |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Weak
| Metropolitan Bank Trust |
Citicore Energy and Metropolitan Bank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citicore Energy and Metropolitan Bank
The main advantage of trading using opposite Citicore Energy and Metropolitan Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citicore Energy position performs unexpectedly, Metropolitan Bank 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 Metropolitan Bank will offset losses from the drop in Metropolitan Bank's long position.| Citicore Energy vs. Security Bank Corp | Citicore Energy vs. Sun Life Financial | Citicore Energy vs. Manila Mining Corp | Citicore Energy vs. Century Pacific Food |
| Metropolitan Bank vs. Asia United Bank | Metropolitan Bank vs. Semirara Mining Corp | Metropolitan Bank vs. Sun Life Financial | Metropolitan Bank vs. Philex Mining Corp |
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 Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
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