Correlation Between Halyk Bank and Mobius Investment
Can any of the company-specific risk be diversified away by investing in both Halyk Bank and Mobius Investment 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 Halyk Bank and Mobius Investment into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Halyk Bank of and Mobius Investment Trust, you can compare the effects of market volatilities on Halyk Bank and Mobius Investment 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 Halyk Bank with a short position of Mobius Investment. Check out your portfolio center. Please also check ongoing floating volatility patterns of Halyk Bank and Mobius Investment.
Diversification Opportunities for Halyk Bank and Mobius Investment
0.72 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Halyk and Mobius is 0.72. Overlapping area represents the amount of risk that can be diversified away by holding Halyk Bank of and Mobius Investment Trust in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mobius Investment Trust and Halyk 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 Halyk Bank of are associated (or correlated) with Mobius Investment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mobius Investment Trust has no effect on the direction of Halyk Bank i.e., Halyk Bank and Mobius Investment go up and down completely randomly.
Pair Corralation between Halyk Bank and Mobius Investment
Assuming the 90 days trading horizon Halyk Bank of is expected to under-perform the Mobius Investment. In addition to that, Halyk Bank is 1.78 times more volatile than Mobius Investment Trust. It trades about -0.02 of its total potential returns per unit of risk. Mobius Investment Trust is currently generating about 0.1 per unit of volatility. If you would invest 14,500 in Mobius Investment Trust on November 2, 2024 and sell it today you would earn a total of 300.00 from holding Mobius Investment Trust or generate 2.07% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Halyk Bank of vs. Mobius Investment Trust
Performance |
| Timeline |
| Halyk Bank |
| Mobius Investment Trust |
Halyk Bank and Mobius Investment Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Halyk Bank and Mobius Investment
The main advantage of trading using opposite Halyk Bank and Mobius Investment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Halyk Bank position performs unexpectedly, Mobius Investment 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 Mobius Investment will offset losses from the drop in Mobius Investment's long position.| Halyk Bank vs. UNIQA Insurance Group | Halyk Bank vs. Central Asia Metals | Halyk Bank vs. Power Metal Resources | Halyk Bank vs. Ashtead Technology Holdings |
| Mobius Investment vs. SupplyMe Capital PLC | Mobius Investment vs. Premier African Minerals | Mobius Investment vs. SANTANDER UK 8 | Mobius Investment vs. Tower Resources plc |
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 Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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