Correlation Between Investcorp Europe and TenX Keane
Can any of the company-specific risk be diversified away by investing in both Investcorp Europe and TenX Keane 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 Investcorp Europe and TenX Keane into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Investcorp Europe Acquisition and TenX Keane Acquisition, you can compare the effects of market volatilities on Investcorp Europe and TenX Keane 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 Investcorp Europe with a short position of TenX Keane. Check out your portfolio center. Please also check ongoing floating volatility patterns of Investcorp Europe and TenX Keane.
Diversification Opportunities for Investcorp Europe and TenX Keane
0.36 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Investcorp and TenX is 0.36. Overlapping area represents the amount of risk that can be diversified away by holding Investcorp Europe Acquisition and TenX Keane Acquisition in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on TenX Keane Acquisition and Investcorp Europe 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 Investcorp Europe Acquisition are associated (or correlated) with TenX Keane. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of TenX Keane Acquisition has no effect on the direction of Investcorp Europe i.e., Investcorp Europe and TenX Keane go up and down completely randomly.
Pair Corralation between Investcorp Europe and TenX Keane
If you would invest 1,147 in Investcorp Europe Acquisition on August 29, 2024 and sell it today you would earn a total of 8.00 from holding Investcorp Europe Acquisition or generate 0.7% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 4.35% |
| Values | Daily Returns |
Investcorp Europe Acquisition vs. TenX Keane Acquisition
Performance |
| Timeline |
| Investcorp Europe |
| TenX Keane Acquisition |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Investcorp Europe and TenX Keane Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Investcorp Europe and TenX Keane
The main advantage of trading using opposite Investcorp Europe and TenX Keane positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Investcorp Europe position performs unexpectedly, TenX Keane 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 TenX Keane will offset losses from the drop in TenX Keane's long position.| Investcorp Europe vs. Bellevue Life Sciences | Investcorp Europe vs. Manaris Corp | Investcorp Europe vs. Metal Sky Star | Investcorp Europe vs. Mountain Crest Acquisition |
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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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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