Correlation Between Halyk Bank and Mulberry Group
Can any of the company-specific risk be diversified away by investing in both Halyk Bank and Mulberry Group 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 Mulberry Group 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 Mulberry Group PLC, you can compare the effects of market volatilities on Halyk Bank and Mulberry Group 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 Mulberry Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Halyk Bank and Mulberry Group.
Diversification Opportunities for Halyk Bank and Mulberry Group
-0.59 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Halyk and Mulberry is -0.59. Overlapping area represents the amount of risk that can be diversified away by holding Halyk Bank of and Mulberry Group PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mulberry Group PLC 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 Mulberry Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mulberry Group PLC has no effect on the direction of Halyk Bank i.e., Halyk Bank and Mulberry Group go up and down completely randomly.
Pair Corralation between Halyk Bank and Mulberry Group
Assuming the 90 days trading horizon Halyk Bank of is expected to generate 0.36 times more return on investment than Mulberry Group. However, Halyk Bank of is 2.79 times less risky than Mulberry Group. It trades about 0.1 of its potential returns per unit of risk. Mulberry Group PLC is currently generating about -0.05 per unit of risk. If you would invest 1,284 in Halyk Bank of on August 26, 2024 and sell it today you would earn a total of 664.00 from holding Halyk Bank of or generate 51.71% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 97.31% |
| Values | Daily Returns |
Halyk Bank of vs. Mulberry Group PLC
Performance |
| Timeline |
| Halyk Bank |
| Mulberry Group PLC |
Halyk Bank and Mulberry Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Halyk Bank and Mulberry Group
The main advantage of trading using opposite Halyk Bank and Mulberry Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Halyk Bank position performs unexpectedly, Mulberry Group 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 Mulberry Group will offset losses from the drop in Mulberry Group's long position.| Halyk Bank vs. Evolution Gaming Group | Halyk Bank vs. Gaming Realms plc | Halyk Bank vs. Beazer Homes USA | Halyk Bank vs. Ecclesiastical Insurance Office |
| Mulberry Group vs. Toyota Motor Corp | Mulberry Group vs. SoftBank Group Corp | Mulberry Group vs. OTP Bank Nyrt | Mulberry Group vs. Las Vegas Sands |
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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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