Correlation Between Impact Growth and Ticon Freehold
Can any of the company-specific risk be diversified away by investing in both Impact Growth and Ticon Freehold 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 Impact Growth and Ticon Freehold into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Impact Growth REIT and Ticon Freehold and, you can compare the effects of market volatilities on Impact Growth and Ticon Freehold 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 Impact Growth with a short position of Ticon Freehold. Check out your portfolio center. Please also check ongoing floating volatility patterns of Impact Growth and Ticon Freehold.
Diversification Opportunities for Impact Growth and Ticon Freehold
0.98 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Impact and Ticon is 0.98. Overlapping area represents the amount of risk that can be diversified away by holding Impact Growth REIT and Ticon Freehold and in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ticon Freehold and Impact Growth 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 Impact Growth REIT are associated (or correlated) with Ticon Freehold. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ticon Freehold has no effect on the direction of Impact Growth i.e., Impact Growth and Ticon Freehold go up and down completely randomly.
Pair Corralation between Impact Growth and Ticon Freehold
Assuming the 90 days trading horizon Impact Growth is expected to generate 1.02 times less return on investment than Ticon Freehold. In addition to that, Impact Growth is 1.0 times more volatile than Ticon Freehold and. It trades about 0.08 of its total potential returns per unit of risk. Ticon Freehold and is currently generating about 0.08 per unit of volatility. If you would invest 874.00 in Ticon Freehold and on August 29, 2024 and sell it today you would earn a total of 176.00 from holding Ticon Freehold and or generate 20.14% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Impact Growth REIT vs. Ticon Freehold and
Performance |
| Timeline |
| Impact Growth REIT |
| Ticon Freehold |
Impact Growth and Ticon Freehold Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Impact Growth and Ticon Freehold
The main advantage of trading using opposite Impact Growth and Ticon Freehold positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Impact Growth position performs unexpectedly, Ticon Freehold 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 Ticon Freehold will offset losses from the drop in Ticon Freehold's long position.| Impact Growth vs. CPN Retail Growth | Impact Growth vs. WHA Premium Growth | Impact Growth vs. Golden Ventures Leasehold | Impact Growth vs. LH Shopping Centers |
| Ticon Freehold vs. WHA Premium Growth | Ticon Freehold vs. CPN Retail Growth | Ticon Freehold vs. Impact Growth REIT | Ticon Freehold vs. Golden Ventures Leasehold |
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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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