Correlation Between MOBA Network and Cint Group
Can any of the company-specific risk be diversified away by investing in both MOBA Network and Cint Group 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 MOBA Network and Cint Group into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between MOBA Network publ and Cint Group AB, you can compare the effects of market volatilities on MOBA Network and Cint Group 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 MOBA Network with a short position of Cint Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of MOBA Network and Cint Group.
Diversification Opportunities for MOBA Network and Cint Group
-0.77 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between MOBA and Cint is -0.77. Overlapping area represents the amount of risk that can be diversified away by holding MOBA Network publ and Cint Group AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cint Group AB and MOBA Network 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 MOBA Network publ are associated (or correlated) with Cint Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cint Group AB has no effect on the direction of MOBA Network i.e., MOBA Network and Cint Group go up and down completely randomly.
Pair Corralation between MOBA Network and Cint Group
Assuming the 90 days trading horizon MOBA Network publ is expected to under-perform the Cint Group. In addition to that, MOBA Network is 1.46 times more volatile than Cint Group AB. It trades about -0.08 of its total potential returns per unit of risk. Cint Group AB is currently generating about 0.06 per unit of volatility. If you would invest 1,290 in Cint Group AB on September 25, 2024 and sell it today you would earn a total of 29.00 from holding Cint Group AB or generate 2.25% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 95.45% |
| Values | Daily Returns |
MOBA Network publ vs. Cint Group AB
Performance |
| Timeline |
| MOBA Network publ |
| Cint Group AB |
MOBA Network and Cint Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MOBA Network and Cint Group
The main advantage of trading using opposite MOBA Network and Cint Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MOBA Network position performs unexpectedly, Cint Group 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 Cint Group will offset losses from the drop in Cint Group's long position.The idea behind MOBA Network publ and Cint Group AB pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.| Cint Group vs. FormPipe Software AB | Cint Group vs. MOBA Network publ | Cint Group vs. Exsitec Holding AB | Cint Group vs. Novotek AB |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
Other Complementary Tools
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| Correlation Analysis Reduce portfolio risk simply by holding instruments which are not perfectly correlated | |
| Insider Screener Find insiders across different sectors to evaluate their impact on performance | |
| Portfolio Optimization Compute new portfolio that will generate highest expected return given your specified tolerance for risk |