Correlation Between EMedia Holdings and Centaur Bci
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By analyzing existing cross correlation between eMedia Holdings Limited and Centaur Bci Balanced, you can compare the effects of market volatilities on EMedia Holdings and Centaur Bci 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 EMedia Holdings with a short position of Centaur Bci. Check out your portfolio center. Please also check ongoing floating volatility patterns of EMedia Holdings and Centaur Bci.
Diversification Opportunities for EMedia Holdings and Centaur Bci
0.27 | Correlation Coefficient |
Modest diversification
The 3 months correlation between EMedia and Centaur is 0.27. Overlapping area represents the amount of risk that can be diversified away by holding eMedia Holdings Limited and Centaur Bci Balanced in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Centaur Bci Balanced and EMedia Holdings 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 eMedia Holdings Limited are associated (or correlated) with Centaur Bci. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Centaur Bci Balanced has no effect on the direction of EMedia Holdings i.e., EMedia Holdings and Centaur Bci go up and down completely randomly.
Pair Corralation between EMedia Holdings and Centaur Bci
Assuming the 90 days trading horizon EMedia Holdings is expected to generate 3.19 times less return on investment than Centaur Bci. In addition to that, EMedia Holdings is 4.79 times more volatile than Centaur Bci Balanced. It trades about 0.01 of its total potential returns per unit of risk. Centaur Bci Balanced is currently generating about 0.11 per unit of volatility. If you would invest 196.00 in Centaur Bci Balanced on August 31, 2024 and sell it today you would earn a total of 45.00 from holding Centaur Bci Balanced or generate 22.96% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 99.19% |
| Values | Daily Returns |
eMedia Holdings Limited vs. Centaur Bci Balanced
Performance |
| Timeline |
| eMedia Holdings |
| Centaur Bci Balanced |
EMedia Holdings and Centaur Bci Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with EMedia Holdings and Centaur Bci
The main advantage of trading using opposite EMedia Holdings and Centaur Bci positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if EMedia Holdings position performs unexpectedly, Centaur Bci 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 Centaur Bci will offset losses from the drop in Centaur Bci's long position.| EMedia Holdings vs. CA Sales Holdings | EMedia Holdings vs. Astral Foods | EMedia Holdings vs. Astoria Investments | EMedia Holdings vs. ABSA Bank Limited |
| Centaur Bci vs. 4d Bci Moderate | Centaur Bci vs. Coronation Global Optimum | Centaur Bci vs. Absa Multi managed Absolute | Centaur Bci vs. Coronation Balanced Plus |
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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
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