Correlation Between Standard Bank and Standard Bank
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By analyzing existing cross correlation between Standard Bank Oil and Standard Bank, you can compare the effects of market volatilities on Standard Bank and Standard 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 Standard Bank with a short position of Standard Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of Standard Bank and Standard Bank.
Diversification Opportunities for Standard Bank and Standard Bank
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Standard and Standard is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Standard Bank Oil and Standard Bank in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Standard Bank and Standard Bank 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 Standard Bank Oil are associated (or correlated) with Standard Bank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Standard Bank has no effect on the direction of Standard Bank i.e., Standard Bank and Standard Bank go up and down completely randomly.
Pair Corralation between Standard Bank and Standard Bank
If you would invest 986,345 in Standard Bank Oil on August 31, 2024 and sell it today you would earn a total of 101,555 from holding Standard Bank Oil or generate 10.3% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Standard Bank Oil vs. Standard Bank
Performance |
| Timeline |
| Standard Bank Oil |
| Standard Bank |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Standard Bank and Standard Bank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Standard Bank and Standard Bank
The main advantage of trading using opposite Standard Bank and Standard Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Standard Bank position performs unexpectedly, Standard 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 Standard Bank will offset losses from the drop in Standard Bank's long position.The idea behind Standard Bank Oil and Standard Bank pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.| Standard Bank vs. Standard Bank WTI | Standard Bank vs. Standard Bank Oil | Standard Bank vs. FNB ETN on | Standard Bank vs. Satrix MSCI World |
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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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