Correlation Between Man Infraconstructio and Dow Jones
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By analyzing existing cross correlation between Man Infraconstruction Limited and Dow Jones Industrial, you can compare the effects of market volatilities on Man Infraconstructio and Dow Jones 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 Man Infraconstructio with a short position of Dow Jones. Check out your portfolio center. Please also check ongoing floating volatility patterns of Man Infraconstructio and Dow Jones.
Diversification Opportunities for Man Infraconstructio and Dow Jones
-0.32 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Man and Dow is -0.32. Overlapping area represents the amount of risk that can be diversified away by holding Man Infraconstruction Limited and Dow Jones Industrial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dow Jones Industrial and Man Infraconstructio 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 Man Infraconstruction Limited are associated (or correlated) with Dow Jones. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dow Jones Industrial has no effect on the direction of Man Infraconstructio i.e., Man Infraconstructio and Dow Jones go up and down completely randomly.
Pair Corralation between Man Infraconstructio and Dow Jones
Assuming the 90 days trading horizon Man Infraconstruction Limited is expected to generate 2.75 times more return on investment than Dow Jones. However, Man Infraconstructio is 2.75 times more volatile than Dow Jones Industrial. It trades about 0.14 of its potential returns per unit of risk. Dow Jones Industrial is currently generating about 0.27 per unit of risk. If you would invest 18,445 in Man Infraconstruction Limited on August 30, 2024 and sell it today you would earn a total of 1,400 from holding Man Infraconstruction Limited or generate 7.59% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.65% |
| Values | Daily Returns |
Man Infraconstruction Limited vs. Dow Jones Industrial
Performance |
| Timeline |
Man Infraconstructio and Dow Jones Volatility Contrast
Predicted Return Density |
| Returns |
Man Infraconstruction Limited
Pair trading matchups for Man Infraconstructio
Dow Jones Industrial
Pair trading matchups for Dow Jones
Pair Trading with Man Infraconstructio and Dow Jones
The main advantage of trading using opposite Man Infraconstructio and Dow Jones positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Man Infraconstructio position performs unexpectedly, Dow Jones 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 Dow Jones will offset losses from the drop in Dow Jones' long position.| Man Infraconstructio vs. Silly Monks Entertainment | Man Infraconstructio vs. Diligent Media | Man Infraconstructio vs. Paramount Communications Limited | Man Infraconstructio vs. ROUTE MOBILE LIMITED |
| Dow Jones vs. Skillful Craftsman Education | Dow Jones vs. Acco Brands | Dow Jones vs. Cracker Barrel Old | Dow Jones vs. Coursera |
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 File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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