Correlation Between Inspirato and Anghami Warrants
Can any of the company-specific risk be diversified away by investing in both Inspirato and Anghami Warrants 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 Inspirato and Anghami Warrants into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Inspirato and Anghami Warrants, you can compare the effects of market volatilities on Inspirato and Anghami Warrants 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 Inspirato with a short position of Anghami Warrants. Check out your portfolio center. Please also check ongoing floating volatility patterns of Inspirato and Anghami Warrants.
Diversification Opportunities for Inspirato and Anghami Warrants
-0.26 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Inspirato and Anghami is -0.26. Overlapping area represents the amount of risk that can be diversified away by holding Inspirato and Anghami Warrants in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anghami Warrants and Inspirato 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 Inspirato are associated (or correlated) with Anghami Warrants. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anghami Warrants has no effect on the direction of Inspirato i.e., Inspirato and Anghami Warrants go up and down completely randomly.
Pair Corralation between Inspirato and Anghami Warrants
Given the investment horizon of 90 days Inspirato is expected to generate 0.38 times more return on investment than Anghami Warrants. However, Inspirato is 2.66 times less risky than Anghami Warrants. It trades about 0.75 of its potential returns per unit of risk. Anghami Warrants is currently generating about 0.0 per unit of risk. If you would invest 331.00 in Inspirato on October 24, 2024 and sell it today you would earn a total of 340.00 from holding Inspirato or generate 102.72% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 94.44% |
| Values | Daily Returns |
Inspirato vs. Anghami Warrants
Performance |
| Timeline |
| Inspirato |
| Anghami Warrants |
Inspirato and Anghami Warrants Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Inspirato and Anghami Warrants
The main advantage of trading using opposite Inspirato and Anghami Warrants positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Inspirato position performs unexpectedly, Anghami Warrants 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 Anghami Warrants will offset losses from the drop in Anghami Warrants' long position.| Inspirato vs. Trip Group Ltd | Inspirato vs. Yatra Online | Inspirato vs. Travel Leisure Co | Inspirato vs. MakeMyTrip Limited |
| Anghami Warrants vs. Anghami De | Anghami Warrants vs. Thayer Ventures Acquisition | Anghami Warrants vs. Inspirato |
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 Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.
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