Correlation Between MAGHREB OXYGENE and M2M GROUP
Specify exactly 2 symbols:
By analyzing existing cross correlation between MAGHREB OXYGENE and M2M GROUP, you can compare the effects of market volatilities on MAGHREB OXYGENE and M2M GROUP 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 M2M GROUP. Check out your portfolio center. Please also check ongoing floating volatility patterns of MAGHREB OXYGENE and M2M GROUP.
Diversification Opportunities for MAGHREB OXYGENE and M2M GROUP
0.24 | Correlation Coefficient |
Modest diversification
The 3 months correlation between MAGHREB and M2M is 0.24. Overlapping area represents the amount of risk that can be diversified away by holding MAGHREB OXYGENE and M2M GROUP in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on M2M GROUP 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 M2M GROUP. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of M2M GROUP has no effect on the direction of MAGHREB OXYGENE i.e., MAGHREB OXYGENE and M2M GROUP go up and down completely randomly.
Pair Corralation between MAGHREB OXYGENE and M2M GROUP
Assuming the 90 days trading horizon MAGHREB OXYGENE is expected to generate 1.42 times more return on investment than M2M GROUP. However, MAGHREB OXYGENE is 1.42 times more volatile than M2M GROUP. It trades about 0.2 of its potential returns per unit of risk. M2M GROUP is currently generating about 0.11 per unit of risk. If you would invest 22,500 in MAGHREB OXYGENE on September 12, 2024 and sell it today you would earn a total of 3,395 from holding MAGHREB OXYGENE or generate 15.09% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
MAGHREB OXYGENE vs. M2M GROUP
Performance |
| Timeline |
| MAGHREB OXYGENE |
| M2M GROUP |
MAGHREB OXYGENE and M2M GROUP Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MAGHREB OXYGENE and M2M GROUP
The main advantage of trading using opposite MAGHREB OXYGENE and M2M GROUP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MAGHREB OXYGENE position performs unexpectedly, M2M GROUP 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 M2M GROUP will offset losses from the drop in M2M GROUP's long position.| MAGHREB OXYGENE vs. MICRODATA | MAGHREB OXYGENE vs. BANK OF AFRICA | MAGHREB OXYGENE vs. TGCC SA | MAGHREB OXYGENE vs. CFG BANK |
| M2M GROUP vs. CREDIT IMMOBILIER ET | M2M GROUP vs. ATTIJARIWAFA BANK | M2M GROUP vs. BANK OF AFRICA | M2M GROUP vs. CFG BANK |
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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
Other Complementary Tools
| Performance Analysis Check effects of mean-variance optimization against your current asset allocation | |
| Portfolio Optimization Compute new portfolio that will generate highest expected return given your specified tolerance for risk | |
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges | |
| Content Syndication Quickly integrate customizable finance content to your own investment portal |