Correlation Between TTG Fintech and Platinum Asset
Can any of the company-specific risk be diversified away by investing in both TTG Fintech and Platinum Asset at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining TTG Fintech and Platinum Asset into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between TTG Fintech and Platinum Asset Management, you can compare the effects of market volatilities on TTG Fintech and Platinum Asset 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 TTG Fintech with a short position of Platinum Asset. Check out your portfolio center. Please also check ongoing floating volatility patterns of TTG Fintech and Platinum Asset.
Diversification Opportunities for TTG Fintech and Platinum Asset
-0.09 | Correlation Coefficient |
Good diversification
The 3 months correlation between TTG and Platinum is -0.09. Overlapping area represents the amount of risk that can be diversified away by holding TTG Fintech and Platinum Asset Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Platinum Asset Management and TTG Fintech 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 TTG Fintech are associated (or correlated) with Platinum Asset. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Platinum Asset Management has no effect on the direction of TTG Fintech i.e., TTG Fintech and Platinum Asset go up and down completely randomly.
Pair Corralation between TTG Fintech and Platinum Asset
Assuming the 90 days trading horizon TTG Fintech is expected to under-perform the Platinum Asset. In addition to that, TTG Fintech is 2.45 times more volatile than Platinum Asset Management. It trades about -0.03 of its total potential returns per unit of risk. Platinum Asset Management is currently generating about 0.05 per unit of volatility. If you would invest 96.00 in Platinum Asset Management on September 3, 2024 and sell it today you would earn a total of 10.00 from holding Platinum Asset Management or generate 10.42% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
TTG Fintech vs. Platinum Asset Management
Performance |
| Timeline |
| TTG Fintech |
| Platinum Asset Management |
TTG Fintech and Platinum Asset Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with TTG Fintech and Platinum Asset
The main advantage of trading using opposite TTG Fintech and Platinum Asset positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if TTG Fintech position performs unexpectedly, Platinum Asset 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 Platinum Asset will offset losses from the drop in Platinum Asset's long position.| TTG Fintech vs. Jupiter Energy | TTG Fintech vs. WA1 Resources | TTG Fintech vs. Predictive Discovery | TTG Fintech vs. Cooper Metals |
| Platinum Asset vs. Audio Pixels Holdings | Platinum Asset vs. Iodm | Platinum Asset vs. Nsx | Platinum Asset vs. TTG Fintech |
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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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