Correlation Between MAGHREB OXYGENE and AGMA LAHLOU
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By analyzing existing cross correlation between MAGHREB OXYGENE and AGMA LAHLOU TAZI, you can compare the effects of market volatilities on MAGHREB OXYGENE and AGMA LAHLOU 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 MAGHREB OXYGENE with a short position of AGMA LAHLOU. Check out your portfolio center. Please also check ongoing floating volatility patterns of MAGHREB OXYGENE and AGMA LAHLOU.
Diversification Opportunities for MAGHREB OXYGENE and AGMA LAHLOU
0.13 | Correlation Coefficient |
Average diversification
The 3 months correlation between MAGHREB and AGMA is 0.13. Overlapping area represents the amount of risk that can be diversified away by holding MAGHREB OXYGENE and AGMA LAHLOU TAZI in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AGMA LAHLOU TAZI and MAGHREB OXYGENE 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 MAGHREB OXYGENE are associated (or correlated) with AGMA LAHLOU. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AGMA LAHLOU TAZI has no effect on the direction of MAGHREB OXYGENE i.e., MAGHREB OXYGENE and AGMA LAHLOU go up and down completely randomly.
Pair Corralation between MAGHREB OXYGENE and AGMA LAHLOU
Assuming the 90 days trading horizon MAGHREB OXYGENE is expected to generate 2.04 times more return on investment than AGMA LAHLOU. However, MAGHREB OXYGENE is 2.04 times more volatile than AGMA LAHLOU TAZI. It trades about 0.05 of its potential returns per unit of risk. AGMA LAHLOU TAZI is currently generating about -0.01 per unit of risk. If you would invest 21,700 in MAGHREB OXYGENE on September 3, 2024 and sell it today you would earn a total of 3,155 from holding MAGHREB OXYGENE or generate 14.54% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
MAGHREB OXYGENE vs. AGMA LAHLOU TAZI
Performance |
| Timeline |
| MAGHREB OXYGENE |
| AGMA LAHLOU TAZI |
MAGHREB OXYGENE and AGMA LAHLOU Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MAGHREB OXYGENE and AGMA LAHLOU
The main advantage of trading using opposite MAGHREB OXYGENE and AGMA LAHLOU positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MAGHREB OXYGENE position performs unexpectedly, AGMA LAHLOU 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 AGMA LAHLOU will offset losses from the drop in AGMA LAHLOU's long position.| MAGHREB OXYGENE vs. ATTIJARIWAFA BANK | MAGHREB OXYGENE vs. CFG BANK | MAGHREB OXYGENE vs. CREDIT IMMOBILIER ET |
| AGMA LAHLOU vs. BANK OF AFRICA | AGMA LAHLOU vs. M2M GROUP | AGMA LAHLOU vs. MAGHREB OXYGENE | AGMA LAHLOU vs. MED PAPER |
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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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