Correlation Between MAS Financial and City Union
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By analyzing existing cross correlation between MAS Financial Services and City Union Bank, you can compare the effects of market volatilities on MAS Financial and City Union 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 MAS Financial with a short position of City Union. Check out your portfolio center. Please also check ongoing floating volatility patterns of MAS Financial and City Union.
Diversification Opportunities for MAS Financial and City Union
-0.11 | Correlation Coefficient |
Good diversification
The 3 months correlation between MAS and City is -0.11. Overlapping area represents the amount of risk that can be diversified away by holding MAS Financial Services and City Union Bank in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on City Union Bank and MAS Financial 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 MAS Financial Services are associated (or correlated) with City Union. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of City Union Bank has no effect on the direction of MAS Financial i.e., MAS Financial and City Union go up and down completely randomly.
Pair Corralation between MAS Financial and City Union
Assuming the 90 days trading horizon MAS Financial Services is expected to under-perform the City Union. In addition to that, MAS Financial is 1.58 times more volatile than City Union Bank. It trades about -0.08 of its total potential returns per unit of risk. City Union Bank is currently generating about 0.09 per unit of volatility. If you would invest 17,574 in City Union Bank on September 1, 2024 and sell it today you would earn a total of 379.00 from holding City Union Bank or generate 2.16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
MAS Financial Services vs. City Union Bank
Performance |
| Timeline |
| MAS Financial Services |
| City Union Bank |
MAS Financial and City Union Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MAS Financial and City Union
The main advantage of trading using opposite MAS Financial and City Union positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MAS Financial position performs unexpectedly, City Union 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 City Union will offset losses from the drop in City Union's long position.| MAS Financial vs. SANOFI S HEALTHC | MAS Financial vs. Paramount Communications Limited | MAS Financial vs. Healthcare Global Enterprises | MAS Financial vs. Reliance Communications Limited |
| City Union vs. Reliance Industrial Infrastructure | City Union vs. NRB Industrial Bearings | City Union vs. Indian Metals Ferro | City Union vs. Shivalik Bimetal Controls |
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 Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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