Correlation Between MCB GROUP and ASTORIA INVESTMENT
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By analyzing existing cross correlation between MCB GROUP LTD and ASTORIA INVESTMENT LTD, you can compare the effects of market volatilities on MCB GROUP and ASTORIA INVESTMENT 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 MCB GROUP with a short position of ASTORIA INVESTMENT. Check out your portfolio center. Please also check ongoing floating volatility patterns of MCB GROUP and ASTORIA INVESTMENT.
Diversification Opportunities for MCB GROUP and ASTORIA INVESTMENT
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between MCB and ASTORIA is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding MCB GROUP LTD and ASTORIA INVESTMENT LTD in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ASTORIA INVESTMENT LTD and MCB GROUP 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 MCB GROUP LTD are associated (or correlated) with ASTORIA INVESTMENT. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ASTORIA INVESTMENT LTD has no effect on the direction of MCB GROUP i.e., MCB GROUP and ASTORIA INVESTMENT go up and down completely randomly.
Pair Corralation between MCB GROUP and ASTORIA INVESTMENT
If you would invest 1,015 in MCB GROUP LTD on November 5, 2024 and sell it today you would earn a total of 55.00 from holding MCB GROUP LTD or generate 5.42% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 81.97% |
| Values | Daily Returns |
MCB GROUP LTD vs. ASTORIA INVESTMENT LTD
Performance |
| Timeline |
| MCB GROUP LTD |
| ASTORIA INVESTMENT LTD |
MCB GROUP and ASTORIA INVESTMENT Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MCB GROUP and ASTORIA INVESTMENT
The main advantage of trading using opposite MCB GROUP and ASTORIA INVESTMENT positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MCB GROUP position performs unexpectedly, ASTORIA INVESTMENT 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 ASTORIA INVESTMENT will offset losses from the drop in ASTORIA INVESTMENT's long position.| MCB GROUP vs. ELITE MEAT PROCESSORS | MCB GROUP vs. CAVELL TOURISTIC INVESTMENTS | MCB GROUP vs. AFRICA CLEAN ENERGY | MCB GROUP vs. MAURITIUS CHEMICAL FERTILIZER |
| ASTORIA INVESTMENT vs. NATIONAL INVESTMENT TRUST | ASTORIA INVESTMENT vs. FINCORP INVESTMENT LTD | ASTORIA INVESTMENT vs. MAURITIUS CHEMICAL FERTILIZER | ASTORIA INVESTMENT vs. AGAPE GLOBAL INVESTMENTS |
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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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