Correlation Between Misr Financial and EGX 33
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By analyzing existing cross correlation between Misr Financial Investments and EGX 33 Shariah, you can compare the effects of market volatilities on Misr Financial and EGX 33 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 Misr Financial with a short position of EGX 33. Check out your portfolio center. Please also check ongoing floating volatility patterns of Misr Financial and EGX 33.
Diversification Opportunities for Misr Financial and EGX 33
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Misr and EGX is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Misr Financial Investments and EGX 33 Shariah in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on EGX 33 Shariah and Misr 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 Misr Financial Investments are associated (or correlated) with EGX 33. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EGX 33 Shariah has no effect on the direction of Misr Financial i.e., Misr Financial and EGX 33 go up and down completely randomly.
Pair Corralation between Misr Financial and EGX 33
If you would invest 100.00 in Misr Financial Investments on August 28, 2024 and sell it today you would earn a total of 0.00 from holding Misr Financial Investments or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 94.44% |
| Values | Daily Returns |
Misr Financial Investments vs. EGX 33 Shariah
Performance |
| Timeline |
Misr Financial and EGX 33 Volatility Contrast
Predicted Return Density |
| Returns |
Misr Financial Investments
Pair trading matchups for Misr Financial
EGX 33 Shariah
Pair trading matchups for EGX 33
Pair Trading with Misr Financial and EGX 33
The main advantage of trading using opposite Misr Financial and EGX 33 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Misr Financial position performs unexpectedly, EGX 33 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 EGX 33 will offset losses from the drop in EGX 33's long position.| Misr Financial vs. Paint Chemicals Industries | Misr Financial vs. Egyptians For Investment | Misr Financial vs. Misr Oils Soap | Misr Financial vs. Global Telecom Holding |
| EGX 33 vs. Credit Agricole Egypt | EGX 33 vs. Mohandes Insurance | EGX 33 vs. Faisal Islamic Bank | EGX 33 vs. Act Financial |
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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
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