Correlation Between MCB GROUP and HOTELEST
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By analyzing existing cross correlation between MCB GROUP LTD and HOTELEST LTD, you can compare the effects of market volatilities on MCB GROUP and HOTELEST 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 HOTELEST. Check out your portfolio center. Please also check ongoing floating volatility patterns of MCB GROUP and HOTELEST.
Diversification Opportunities for MCB GROUP and HOTELEST
Pay attention - limited upside
The 3 months correlation between MCB and HOTELEST is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding MCB GROUP LTD and HOTELEST LTD in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HOTELEST 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 HOTELEST. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HOTELEST LTD has no effect on the direction of MCB GROUP i.e., MCB GROUP and HOTELEST go up and down completely randomly.
Pair Corralation between MCB GROUP and HOTELEST
If you would invest 1,010 in MCB GROUP LTD on August 28, 2024 and sell it today you would earn a total of 40.00 from holding MCB GROUP LTD or generate 3.96% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
MCB GROUP LTD vs. HOTELEST LTD
Performance |
| Timeline |
| MCB GROUP LTD |
| HOTELEST LTD |
MCB GROUP and HOTELEST Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MCB GROUP and HOTELEST
The main advantage of trading using opposite MCB GROUP and HOTELEST positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MCB GROUP position performs unexpectedly, HOTELEST 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 HOTELEST will offset losses from the drop in HOTELEST's long position.| MCB GROUP vs. LOTTOTECH LTD | MCB GROUP vs. NEW MAURITIUS HOTELS | MCB GROUP vs. MIWA SUGAR LIMITED | MCB GROUP vs. CAVELL TOURISTIC INVESTMENTS |
| HOTELEST vs. MCB GROUP LTD | HOTELEST vs. LOTTOTECH LTD | HOTELEST vs. NEW MAURITIUS HOTELS | HOTELEST vs. MIWA SUGAR LIMITED |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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