Correlation Between HIGHTECH PAYMENT and CFG BANK
Specify exactly 2 symbols:
By analyzing existing cross correlation between HIGHTECH PAYMENT SYSTEMS and CFG BANK, you can compare the effects of market volatilities on HIGHTECH PAYMENT and CFG 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 HIGHTECH PAYMENT with a short position of CFG BANK. Check out your portfolio center. Please also check ongoing floating volatility patterns of HIGHTECH PAYMENT and CFG BANK.
Diversification Opportunities for HIGHTECH PAYMENT and CFG BANK
0.91 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between HIGHTECH and CFG is 0.91. Overlapping area represents the amount of risk that can be diversified away by holding HIGHTECH PAYMENT SYSTEMS and CFG BANK in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CFG BANK and HIGHTECH PAYMENT 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 HIGHTECH PAYMENT SYSTEMS are associated (or correlated) with CFG BANK. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CFG BANK has no effect on the direction of HIGHTECH PAYMENT i.e., HIGHTECH PAYMENT and CFG BANK go up and down completely randomly.
Pair Corralation between HIGHTECH PAYMENT and CFG BANK
Assuming the 90 days trading horizon HIGHTECH PAYMENT SYSTEMS is expected to under-perform the CFG BANK. In addition to that, HIGHTECH PAYMENT is 1.88 times more volatile than CFG BANK. It trades about -0.13 of its total potential returns per unit of risk. CFG BANK is currently generating about -0.09 per unit of volatility. If you would invest 24,300 in CFG BANK on December 2, 2024 and sell it today you would lose (600.00) from holding CFG BANK or give up 2.47% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
HIGHTECH PAYMENT SYSTEMS vs. CFG BANK
Performance |
| Timeline |
| HIGHTECH PAYMENT SYSTEMS |
| CFG BANK |
HIGHTECH PAYMENT and CFG BANK Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HIGHTECH PAYMENT and CFG BANK
The main advantage of trading using opposite HIGHTECH PAYMENT and CFG BANK positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HIGHTECH PAYMENT position performs unexpectedly, CFG 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 CFG BANK will offset losses from the drop in CFG BANK's long position.| HIGHTECH PAYMENT vs. CFG BANK | ||
| HIGHTECH PAYMENT vs. BANK OF AFRICA | ||
| HIGHTECH PAYMENT vs. CREDIT IMMOBILIER ET | ||
| HIGHTECH PAYMENT vs. ATTIJARIWAFA BANK |
| CFG BANK vs. CREDIT IMMOBILIER ET | ||
| CFG BANK vs. ATTIJARIWAFA BANK | ||
| CFG BANK vs. MICRODATA | ||
| CFG BANK vs. MAROC LEASING |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
Other Complementary Tools
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios | |
| Performance Analysis Check effects of mean-variance optimization against your current asset allocation | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| CEOs Directory Screen CEOs from public companies around the world | |
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum |