Correlation Between JULIUS BERGER and LIVINGTRUST MORTGAGE
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By analyzing existing cross correlation between JULIUS BERGER NIGERIA and LIVINGTRUST MORTGAGE BANK, you can compare the effects of market volatilities on JULIUS BERGER and LIVINGTRUST MORTGAGE 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 JULIUS BERGER with a short position of LIVINGTRUST MORTGAGE. Check out your portfolio center. Please also check ongoing floating volatility patterns of JULIUS BERGER and LIVINGTRUST MORTGAGE.
Diversification Opportunities for JULIUS BERGER and LIVINGTRUST MORTGAGE
-0.83 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between JULIUS and LIVINGTRUST is -0.83. Overlapping area represents the amount of risk that can be diversified away by holding JULIUS BERGER NIGERIA and LIVINGTRUST MORTGAGE BANK in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on LIVINGTRUST MORTGAGE BANK and JULIUS BERGER 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 JULIUS BERGER NIGERIA are associated (or correlated) with LIVINGTRUST MORTGAGE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LIVINGTRUST MORTGAGE BANK has no effect on the direction of JULIUS BERGER i.e., JULIUS BERGER and LIVINGTRUST MORTGAGE go up and down completely randomly.
Pair Corralation between JULIUS BERGER and LIVINGTRUST MORTGAGE
Assuming the 90 days trading horizon JULIUS BERGER NIGERIA is expected to under-perform the LIVINGTRUST MORTGAGE. In addition to that, JULIUS BERGER NIGERIA is as risky as LIVINGTRUST MORTGAGE. It trades about -0.21 of its total potential returns per unit of risk. LIVINGTRUST MORTGAGE BANK is currently generating about 0.21 per unit of volatility. If you would invest 300.00 in LIVINGTRUST MORTGAGE BANK on September 22, 2024 and sell it today you would earn a total of 30.00 from holding LIVINGTRUST MORTGAGE BANK or generate 10.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
JULIUS BERGER NIGERIA vs. LIVINGTRUST MORTGAGE BANK
Performance |
| Timeline |
| JULIUS BERGER NIGERIA |
| LIVINGTRUST MORTGAGE BANK |
JULIUS BERGER and LIVINGTRUST MORTGAGE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JULIUS BERGER and LIVINGTRUST MORTGAGE
The main advantage of trading using opposite JULIUS BERGER and LIVINGTRUST MORTGAGE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JULIUS BERGER position performs unexpectedly, LIVINGTRUST MORTGAGE 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 LIVINGTRUST MORTGAGE will offset losses from the drop in LIVINGTRUST MORTGAGE's long position.| JULIUS BERGER vs. ZENITH BANK PLC | JULIUS BERGER vs. GUINEA INSURANCE PLC | JULIUS BERGER vs. SECURE ELECTRONIC TECHNOLOGY | JULIUS BERGER vs. SFS REAL ESTATE |
| LIVINGTRUST MORTGAGE vs. GUINEA INSURANCE PLC | LIVINGTRUST MORTGAGE vs. SECURE ELECTRONIC TECHNOLOGY | LIVINGTRUST MORTGAGE vs. VFD GROUP | LIVINGTRUST MORTGAGE vs. IKEJA HOTELS PLC |
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 Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
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