Correlation Between MOL Nyrt and ArcelorMittal
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By analyzing existing cross correlation between MOL Nyrt and ArcelorMittal, you can compare the effects of market volatilities on MOL Nyrt and ArcelorMittal 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 MOL Nyrt with a short position of ArcelorMittal. Check out your portfolio center. Please also check ongoing floating volatility patterns of MOL Nyrt and ArcelorMittal.
Diversification Opportunities for MOL Nyrt and ArcelorMittal
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between MOL and ArcelorMittal is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding MOL Nyrt and ArcelorMittal in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ArcelorMittal and MOL Nyrt 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 MOL Nyrt are associated (or correlated) with ArcelorMittal. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ArcelorMittal has no effect on the direction of MOL Nyrt i.e., MOL Nyrt and ArcelorMittal go up and down completely randomly.
Pair Corralation between MOL Nyrt and ArcelorMittal
If you would invest (100.00) in ArcelorMittal on September 3, 2024 and sell it today you would earn a total of 100.00 from holding ArcelorMittal or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
MOL Nyrt vs. ArcelorMittal
Performance |
| Timeline |
| MOL Nyrt |
| ArcelorMittal |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
MOL Nyrt and ArcelorMittal Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MOL Nyrt and ArcelorMittal
The main advantage of trading using opposite MOL Nyrt and ArcelorMittal positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MOL Nyrt position performs unexpectedly, ArcelorMittal 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 ArcelorMittal will offset losses from the drop in ArcelorMittal's long position.| MOL Nyrt vs. Commerzbank AG | MOL Nyrt vs. Nutex Investments PLC | MOL Nyrt vs. NordTelekom Telecommunications Service |
| ArcelorMittal vs. NordTelekom Telecommunications Service | ArcelorMittal vs. Commerzbank AG | ArcelorMittal vs. Infineon Technologies AG | ArcelorMittal vs. Delta Technologies Nyrt |
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 Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
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