Correlation Between Mlk Foods and 11 Bit
Can any of the company-specific risk be diversified away by investing in both Mlk Foods and 11 Bit at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Mlk Foods and 11 Bit into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Mlk Foods Public and 11 bit studios, you can compare the effects of market volatilities on Mlk Foods and 11 Bit 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 Mlk Foods with a short position of 11 Bit. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mlk Foods and 11 Bit.
Diversification Opportunities for Mlk Foods and 11 Bit
Very good diversification
The 3 months correlation between Mlk and 11B is -0.31. Overlapping area represents the amount of risk that can be diversified away by holding Mlk Foods Public and 11 bit studios in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on 11 bit studios and Mlk Foods 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 Mlk Foods Public are associated (or correlated) with 11 Bit. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of 11 bit studios has no effect on the direction of Mlk Foods i.e., Mlk Foods and 11 Bit go up and down completely randomly.
Pair Corralation between Mlk Foods and 11 Bit
Assuming the 90 days trading horizon Mlk Foods Public is expected to generate 1.35 times more return on investment than 11 Bit. However, Mlk Foods is 1.35 times more volatile than 11 bit studios. It trades about 0.04 of its potential returns per unit of risk. 11 bit studios is currently generating about -0.04 per unit of risk. If you would invest 82.00 in Mlk Foods Public on August 30, 2024 and sell it today you would earn a total of 33.00 from holding Mlk Foods Public or generate 40.24% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Mlk Foods Public vs. 11 bit studios
Performance |
| Timeline |
| Mlk Foods Public |
| 11 bit studios |
Mlk Foods and 11 Bit Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mlk Foods and 11 Bit
The main advantage of trading using opposite Mlk Foods and 11 Bit positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mlk Foods position performs unexpectedly, 11 Bit 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 11 Bit will offset losses from the drop in 11 Bit's long position.| Mlk Foods vs. Asseco Business Solutions | Mlk Foods vs. Detalion Games SA | Mlk Foods vs. CFI Holding SA | Mlk Foods vs. HM Inwest SA |
| 11 Bit vs. True Games Syndicate | 11 Bit vs. Centrum Finansowe Banku | 11 Bit vs. Echo Investment SA | 11 Bit vs. Detalion Games SA |
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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
Other Complementary Tools
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
| Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing | |
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| Equity Valuation Check real value of public entities based on technical and fundamental data | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules |