Correlation Between MCB GROUP and AGAPE GLOBAL
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By analyzing existing cross correlation between MCB GROUP LTD and AGAPE GLOBAL INVESTMENTS, you can compare the effects of market volatilities on MCB GROUP and AGAPE GLOBAL 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 AGAPE GLOBAL. Check out your portfolio center. Please also check ongoing floating volatility patterns of MCB GROUP and AGAPE GLOBAL.
Diversification Opportunities for MCB GROUP and AGAPE GLOBAL
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between MCB and AGAPE is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding MCB GROUP LTD and AGAPE GLOBAL INVESTMENTS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AGAPE GLOBAL INVESTMENTS 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 AGAPE GLOBAL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AGAPE GLOBAL INVESTMENTS has no effect on the direction of MCB GROUP i.e., MCB GROUP and AGAPE GLOBAL go up and down completely randomly.
Pair Corralation between MCB GROUP and AGAPE GLOBAL
If you would invest 135.00 in AGAPE GLOBAL INVESTMENTS on August 30, 2024 and sell it today you would earn a total of 0.00 from holding AGAPE GLOBAL INVESTMENTS or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
MCB GROUP LTD vs. AGAPE GLOBAL INVESTMENTS
Performance |
| Timeline |
| MCB GROUP LTD |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| AGAPE GLOBAL INVESTMENTS |
MCB GROUP and AGAPE GLOBAL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MCB GROUP and AGAPE GLOBAL
The main advantage of trading using opposite MCB GROUP and AGAPE GLOBAL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MCB GROUP position performs unexpectedly, AGAPE GLOBAL 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 AGAPE GLOBAL will offset losses from the drop in AGAPE GLOBAL's long position.| MCB GROUP vs. FINCORP INVESTMENT LTD | MCB GROUP vs. PSG FINANCIAL SERVICES | MCB GROUP vs. BEAU VALLON HOSPITAL | MCB GROUP vs. MAURITIUS CHEMICAL FERTILIZER |
| AGAPE GLOBAL vs. PSG FINANCIAL SERVICES | AGAPE GLOBAL vs. PHOENIX INVESTMENT PANY | AGAPE GLOBAL vs. CAVELL TOURISTIC INVESTMENTS | AGAPE GLOBAL vs. HOTELEST LTD |
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 Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.
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