Correlation Between Intuit and Swvl Holdings
Can any of the company-specific risk be diversified away by investing in both Intuit and Swvl Holdings 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 Intuit and Swvl Holdings into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Intuit Inc and Swvl Holdings Corp, you can compare the effects of market volatilities on Intuit and Swvl Holdings 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 Intuit with a short position of Swvl Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intuit and Swvl Holdings.
Diversification Opportunities for Intuit and Swvl Holdings
-0.1 | Correlation Coefficient |
Good diversification
The 3 months correlation between Intuit and Swvl is -0.1. Overlapping area represents the amount of risk that can be diversified away by holding Intuit Inc and Swvl Holdings Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Swvl Holdings Corp and Intuit 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 Intuit Inc are associated (or correlated) with Swvl Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Swvl Holdings Corp has no effect on the direction of Intuit i.e., Intuit and Swvl Holdings go up and down completely randomly.
Pair Corralation between Intuit and Swvl Holdings
Given the investment horizon of 90 days Intuit is expected to generate 199.16 times less return on investment than Swvl Holdings. But when comparing it to its historical volatility, Intuit Inc is 50.7 times less risky than Swvl Holdings. It trades about 0.02 of its potential returns per unit of risk. Swvl Holdings Corp is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest 1.52 in Swvl Holdings Corp on September 22, 2024 and sell it today you would earn a total of 0.09 from holding Swvl Holdings Corp or generate 5.92% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 93.75% |
| Values | Daily Returns |
Intuit Inc vs. Swvl Holdings Corp
Performance |
| Timeline |
| Intuit Inc |
| Swvl Holdings Corp |
Intuit and Swvl Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Intuit and Swvl Holdings
The main advantage of trading using opposite Intuit and Swvl Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intuit position performs unexpectedly, Swvl Holdings 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 Swvl Holdings will offset losses from the drop in Swvl Holdings' long position.| Intuit vs. Dubber Limited | Intuit vs. Advanced Health Intelligence | Intuit vs. Danavation Technologies Corp | Intuit vs. BASE Inc |
| Swvl Holdings vs. Dave Warrants | Swvl Holdings vs. Aquagold International | Swvl Holdings vs. Morningstar Unconstrained Allocation | Swvl Holdings vs. Thrivent High Yield |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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