Correlation Between Monnari Trade and WIG 30
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By analyzing existing cross correlation between Monnari Trade SA and WIG 30, you can compare the effects of market volatilities on Monnari Trade and WIG 30 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 Monnari Trade with a short position of WIG 30. Check out your portfolio center. Please also check ongoing floating volatility patterns of Monnari Trade and WIG 30.
Diversification Opportunities for Monnari Trade and WIG 30
-0.39 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Monnari and WIG is -0.39. Overlapping area represents the amount of risk that can be diversified away by holding Monnari Trade SA and WIG 30 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on WIG 30 and Monnari Trade 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 Monnari Trade SA are associated (or correlated) with WIG 30. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of WIG 30 has no effect on the direction of Monnari Trade i.e., Monnari Trade and WIG 30 go up and down completely randomly.
Pair Corralation between Monnari Trade and WIG 30
Assuming the 90 days trading horizon Monnari Trade SA is expected to under-perform the WIG 30. In addition to that, Monnari Trade is 1.27 times more volatile than WIG 30. It trades about -0.12 of its total potential returns per unit of risk. WIG 30 is currently generating about 0.0 per unit of volatility. If you would invest 294,058 in WIG 30 on September 13, 2024 and sell it today you would lose (1,699) from holding WIG 30 or give up 0.58% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Monnari Trade SA vs. WIG 30
Performance |
| Timeline |
Monnari Trade and WIG 30 Volatility Contrast
Predicted Return Density |
| Returns |
Monnari Trade SA
Pair trading matchups for Monnari Trade
WIG 30
Pair trading matchups for WIG 30
Pair Trading with Monnari Trade and WIG 30
The main advantage of trading using opposite Monnari Trade and WIG 30 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Monnari Trade position performs unexpectedly, WIG 30 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 WIG 30 will offset losses from the drop in WIG 30's long position.| Monnari Trade vs. LPP SA | Monnari Trade vs. Asseco Business Solutions | Monnari Trade vs. Detalion Games SA | Monnari Trade vs. Asseco South Eastern |
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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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