Correlation Between AGAPE GLOBAL and NEW MAURITIUS
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By analyzing existing cross correlation between AGAPE GLOBAL INVESTMENTS and NEW MAURITIUS HOTELS, you can compare the effects of market volatilities on AGAPE GLOBAL and NEW MAURITIUS 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 AGAPE GLOBAL with a short position of NEW MAURITIUS. Check out your portfolio center. Please also check ongoing floating volatility patterns of AGAPE GLOBAL and NEW MAURITIUS.
Diversification Opportunities for AGAPE GLOBAL and NEW MAURITIUS
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between AGAPE and NEW is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding AGAPE GLOBAL INVESTMENTS and NEW MAURITIUS HOTELS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on NEW MAURITIUS HOTELS and AGAPE GLOBAL 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 AGAPE GLOBAL INVESTMENTS are associated (or correlated) with NEW MAURITIUS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NEW MAURITIUS HOTELS has no effect on the direction of AGAPE GLOBAL i.e., AGAPE GLOBAL and NEW MAURITIUS go up and down completely randomly.
Pair Corralation between AGAPE GLOBAL and NEW MAURITIUS
If you would invest 1,100 in NEW MAURITIUS HOTELS on August 28, 2024 and sell it today you would earn a total of 320.00 from holding NEW MAURITIUS HOTELS or generate 29.09% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 99.21% |
| Values | Daily Returns |
AGAPE GLOBAL INVESTMENTS vs. NEW MAURITIUS HOTELS
Performance |
| Timeline |
| AGAPE GLOBAL INVESTMENTS |
| NEW MAURITIUS HOTELS |
AGAPE GLOBAL and NEW MAURITIUS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AGAPE GLOBAL and NEW MAURITIUS
The main advantage of trading using opposite AGAPE GLOBAL and NEW MAURITIUS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AGAPE GLOBAL position performs unexpectedly, NEW MAURITIUS 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 NEW MAURITIUS will offset losses from the drop in NEW MAURITIUS's long position.| AGAPE GLOBAL vs. MCB GROUP LTD | AGAPE GLOBAL vs. LOTTOTECH LTD | AGAPE GLOBAL vs. NEW MAURITIUS HOTELS | AGAPE GLOBAL vs. MIWA SUGAR LIMITED |
| NEW MAURITIUS vs. AGAPE GLOBAL INVESTMENTS | NEW MAURITIUS vs. HOTELEST LTD | NEW MAURITIUS vs. PHOENIX INVESTMENT PANY | NEW MAURITIUS vs. CIM FINANCIAL SERVICES |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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