Correlation Between El Nasr and Misr Financial
Can any of the company-specific risk be diversified away by investing in both El Nasr and Misr Financial 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 El Nasr and Misr Financial into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between El Nasr Clothes and Misr Financial Investments, you can compare the effects of market volatilities on El Nasr and Misr Financial 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 El Nasr with a short position of Misr Financial. Check out your portfolio center. Please also check ongoing floating volatility patterns of El Nasr and Misr Financial.
Diversification Opportunities for El Nasr and Misr Financial
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between KABO and Misr is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding El Nasr Clothes and Misr Financial Investments in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Misr Financial Inves and El Nasr 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 El Nasr Clothes are associated (or correlated) with Misr Financial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Misr Financial Inves has no effect on the direction of El Nasr i.e., El Nasr and Misr Financial go up and down completely randomly.
Pair Corralation between El Nasr and Misr Financial
If you would invest 237.00 in El Nasr Clothes on September 12, 2024 and sell it today you would earn a total of 159.00 from holding El Nasr Clothes or generate 67.09% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 99.48% |
| Values | Daily Returns |
El Nasr Clothes vs. Misr Financial Investments
Performance |
| Timeline |
| El Nasr Clothes |
| Misr Financial Inves |
El Nasr and Misr Financial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with El Nasr and Misr Financial
The main advantage of trading using opposite El Nasr and Misr Financial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if El Nasr position performs unexpectedly, Misr Financial 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 Misr Financial will offset losses from the drop in Misr Financial's long position.| El Nasr vs. Egyptian Transport | El Nasr vs. Global Telecom Holding | El Nasr vs. Misr Financial Investments | El Nasr vs. Cairo For Investment |
| Misr Financial vs. Sidi Kerir Petrochemicals | Misr Financial vs. Act Financial | Misr Financial vs. Union National Bank | Misr Financial vs. Contact Financial Holding |
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 Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.
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