Correlation Between HiProMine and ING Bank
Can any of the company-specific risk be diversified away by investing in both HiProMine and ING Bank 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 HiProMine and ING Bank into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between HiProMine SA and ING Bank lski, you can compare the effects of market volatilities on HiProMine and ING 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 HiProMine with a short position of ING Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of HiProMine and ING Bank.
Diversification Opportunities for HiProMine and ING Bank
Pay attention - limited upside
The 3 months correlation between HiProMine and ING is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding HiProMine SA and ING Bank lski in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ING Bank lski and HiProMine 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 HiProMine SA are associated (or correlated) with ING Bank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ING Bank lski has no effect on the direction of HiProMine i.e., HiProMine and ING Bank go up and down completely randomly.
Pair Corralation between HiProMine and ING Bank
If you would invest 17,089 in ING Bank lski on September 4, 2024 and sell it today you would earn a total of 7,011 from holding ING Bank lski or generate 41.03% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
HiProMine SA vs. ING Bank lski
Performance |
| Timeline |
| HiProMine SA |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| ING Bank lski |
HiProMine and ING Bank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HiProMine and ING Bank
The main advantage of trading using opposite HiProMine and ING Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HiProMine position performs unexpectedly, ING 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 ING Bank will offset losses from the drop in ING Bank's long position.| HiProMine vs. True Games Syndicate | HiProMine vs. Mlk Foods Public | HiProMine vs. Echo Investment SA | HiProMine vs. Carlson Investments SA |
| ING Bank vs. Biztech Konsulting SA | ING Bank vs. UniCredit SpA | ING Bank vs. M Food SA | ING Bank vs. Noble Financials SA |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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