Correlation Between ECOBANK GHANA and DIGICUT ADVERTISING
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By analyzing existing cross correlation between ECOBANK GHANA LIMITED and DIGICUT ADVERTISING PRODUCTION, you can compare the effects of market volatilities on ECOBANK GHANA and DIGICUT ADVERTISING 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 ECOBANK GHANA with a short position of DIGICUT ADVERTISING. Check out your portfolio center. Please also check ongoing floating volatility patterns of ECOBANK GHANA and DIGICUT ADVERTISING.
Diversification Opportunities for ECOBANK GHANA and DIGICUT ADVERTISING
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between ECOBANK and DIGICUT is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding ECOBANK GHANA LIMITED and DIGICUT ADVERTISING PRODUCTION in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on DIGICUT ADVERTISING and ECOBANK GHANA 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 ECOBANK GHANA LIMITED are associated (or correlated) with DIGICUT ADVERTISING. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DIGICUT ADVERTISING has no effect on the direction of ECOBANK GHANA i.e., ECOBANK GHANA and DIGICUT ADVERTISING go up and down completely randomly.
Pair Corralation between ECOBANK GHANA and DIGICUT ADVERTISING
If you would invest 664.00 in ECOBANK GHANA LIMITED on August 27, 2024 and sell it today you would lose (14.00) from holding ECOBANK GHANA LIMITED or give up 2.11% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
ECOBANK GHANA LIMITED vs. DIGICUT ADVERTISING PRODUCTION
Performance |
| Timeline |
| ECOBANK GHANA LIMITED |
| DIGICUT ADVERTISING |
ECOBANK GHANA and DIGICUT ADVERTISING Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ECOBANK GHANA and DIGICUT ADVERTISING
The main advantage of trading using opposite ECOBANK GHANA and DIGICUT ADVERTISING positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ECOBANK GHANA position performs unexpectedly, DIGICUT ADVERTISING 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 DIGICUT ADVERTISING will offset losses from the drop in DIGICUT ADVERTISING's long position.| ECOBANK GHANA vs. TRUST BANK LIMITED | ECOBANK GHANA vs. AGRICULTURAL DEVELOPMENT BANK | ECOBANK GHANA vs. STANDARD CHARTERED BANK | ECOBANK GHANA vs. GUINNESS GHANA BREWERIES |
| DIGICUT ADVERTISING vs. ECOBANK GHANA LIMITED | DIGICUT ADVERTISING vs. STANDARD CHARTERED BANK | DIGICUT ADVERTISING vs. REPUBLIC BANK LIMITED | DIGICUT ADVERTISING vs. ACCESS BANK GHANA |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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