Correlation Between Mobimo Hldg and Zug Estates
Can any of the company-specific risk be diversified away by investing in both Mobimo Hldg and Zug Estates 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 Mobimo Hldg and Zug Estates into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Mobimo Hldg and Zug Estates Holding, you can compare the effects of market volatilities on Mobimo Hldg and Zug Estates 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 Mobimo Hldg with a short position of Zug Estates. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mobimo Hldg and Zug Estates.
Diversification Opportunities for Mobimo Hldg and Zug Estates
0.09 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Mobimo and Zug is 0.09. Overlapping area represents the amount of risk that can be diversified away by holding Mobimo Hldg and Zug Estates Holding in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Zug Estates Holding and Mobimo Hldg 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 Mobimo Hldg are associated (or correlated) with Zug Estates. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Zug Estates Holding has no effect on the direction of Mobimo Hldg i.e., Mobimo Hldg and Zug Estates go up and down completely randomly.
Pair Corralation between Mobimo Hldg and Zug Estates
Assuming the 90 days trading horizon Mobimo Hldg is expected to generate 0.78 times more return on investment than Zug Estates. However, Mobimo Hldg is 1.28 times less risky than Zug Estates. It trades about 0.05 of its potential returns per unit of risk. Zug Estates Holding is currently generating about 0.04 per unit of risk. If you would invest 22,325 in Mobimo Hldg on August 25, 2024 and sell it today you would earn a total of 5,475 from holding Mobimo Hldg or generate 24.52% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 99.2% |
| Values | Daily Returns |
Mobimo Hldg vs. Zug Estates Holding
Performance |
| Timeline |
| Mobimo Hldg |
| Zug Estates Holding |
Mobimo Hldg and Zug Estates Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mobimo Hldg and Zug Estates
The main advantage of trading using opposite Mobimo Hldg and Zug Estates positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mobimo Hldg position performs unexpectedly, Zug Estates 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 Zug Estates will offset losses from the drop in Zug Estates' long position.| Mobimo Hldg vs. PSP Swiss Property | Mobimo Hldg vs. Allreal Holding | Mobimo Hldg vs. Swiss Prime Site | Mobimo Hldg vs. Helvetia Holding AG |
| Zug Estates vs. Allreal Holding | Zug Estates vs. PSP Swiss Property | Zug Estates vs. Mobimo Hldg | Zug Estates vs. Swiss Prime Site |
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 Pair Correlation module to compare performance and examine fundamental relationship between any two equity instruments.
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