Correlation Between Global Telecom and Obour Land
Can any of the company-specific risk be diversified away by investing in both Global Telecom and Obour Land 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 Global Telecom and Obour Land into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Global Telecom Holding and Obour Land For, you can compare the effects of market volatilities on Global Telecom and Obour Land 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 Global Telecom with a short position of Obour Land. Check out your portfolio center. Please also check ongoing floating volatility patterns of Global Telecom and Obour Land.
Diversification Opportunities for Global Telecom and Obour Land
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Global and Obour is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Global Telecom Holding and Obour Land For in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Obour Land For and Global Telecom 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 Global Telecom Holding are associated (or correlated) with Obour Land. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Obour Land For has no effect on the direction of Global Telecom i.e., Global Telecom and Obour Land go up and down completely randomly.
Pair Corralation between Global Telecom and Obour Land
If you would invest 867.00 in Obour Land For on September 12, 2024 and sell it today you would earn a total of 986.00 from holding Obour Land For or generate 113.73% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 99.62% |
| Values | Daily Returns |
Global Telecom Holding vs. Obour Land For
Performance |
| Timeline |
| Global Telecom Holding |
| Obour Land For |
Global Telecom and Obour Land Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Global Telecom and Obour Land
The main advantage of trading using opposite Global Telecom and Obour Land positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Global Telecom position performs unexpectedly, Obour Land 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 Obour Land will offset losses from the drop in Obour Land's long position.| Global Telecom vs. Paint Chemicals Industries | Global Telecom vs. Reacap Financial Investments | Global Telecom vs. Egyptians For Investment | Global Telecom vs. Misr Oils Soap |
| Obour Land vs. Global Telecom Holding | Obour Land vs. ODIN Investments | Obour Land vs. Egyptian Iron Steel | Obour Land vs. Delta Construction Rebuilding |
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 Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
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