Correlation Between City Union and MAS Financial
Specify exactly 2 symbols:
By analyzing existing cross correlation between City Union Bank and MAS Financial Services, you can compare the effects of market volatilities on City Union and MAS Financial 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 City Union with a short position of MAS Financial. Check out your portfolio center. Please also check ongoing floating volatility patterns of City Union and MAS Financial.
Diversification Opportunities for City Union and MAS Financial
-0.11 | Correlation Coefficient |
Good diversification
The 3 months correlation between City and MAS is -0.11. Overlapping area represents the amount of risk that can be diversified away by holding City Union Bank and MAS Financial Services in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MAS Financial Services and City Union 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 City Union Bank are associated (or correlated) with MAS Financial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MAS Financial Services has no effect on the direction of City Union i.e., City Union and MAS Financial go up and down completely randomly.
Pair Corralation between City Union and MAS Financial
Assuming the 90 days trading horizon City Union Bank is expected to generate 0.63 times more return on investment than MAS Financial. However, City Union Bank is 1.58 times less risky than MAS Financial. It trades about 0.09 of its potential returns per unit of risk. MAS Financial Services is currently generating about -0.08 per unit of risk. If you would invest 17,574 in City Union Bank on September 1, 2024 and sell it today you would earn a total of 379.00 from holding City Union Bank or generate 2.16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
City Union Bank vs. MAS Financial Services
Performance |
| Timeline |
| City Union Bank |
| MAS Financial Services |
City Union and MAS Financial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with City Union and MAS Financial
The main advantage of trading using opposite City Union and MAS Financial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if City Union position performs unexpectedly, MAS Financial 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 MAS Financial will offset losses from the drop in MAS Financial's long position.| City Union vs. Reliance Industrial Infrastructure | City Union vs. NRB Industrial Bearings | City Union vs. Indian Metals Ferro | City Union vs. Shivalik Bimetal Controls |
| MAS Financial vs. SANOFI S HEALTHC | MAS Financial vs. Paramount Communications Limited | MAS Financial vs. Healthcare Global Enterprises | MAS Financial vs. Reliance Communications Limited |
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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
Other Complementary Tools
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum | |
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities | |
| Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators | |
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios |