Correlation Between Moneta Money and Fillamentum
Can any of the company-specific risk be diversified away by investing in both Moneta Money and Fillamentum 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 Moneta Money and Fillamentum into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Moneta Money Bank and Fillamentum as, you can compare the effects of market volatilities on Moneta Money and Fillamentum 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 Moneta Money with a short position of Fillamentum. Check out your portfolio center. Please also check ongoing floating volatility patterns of Moneta Money and Fillamentum.
Diversification Opportunities for Moneta Money and Fillamentum
-0.24 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Moneta and Fillamentum is -0.24. Overlapping area represents the amount of risk that can be diversified away by holding Moneta Money Bank and Fillamentum as in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Fillamentum as and Moneta Money 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 Moneta Money Bank are associated (or correlated) with Fillamentum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fillamentum as has no effect on the direction of Moneta Money i.e., Moneta Money and Fillamentum go up and down completely randomly.
Pair Corralation between Moneta Money and Fillamentum
Assuming the 90 days trading horizon Moneta Money Bank is expected to generate 0.17 times more return on investment than Fillamentum. However, Moneta Money Bank is 5.96 times less risky than Fillamentum. It trades about 0.15 of its potential returns per unit of risk. Fillamentum as is currently generating about -0.01 per unit of risk. If you would invest 8,156 in Moneta Money Bank on September 12, 2024 and sell it today you would earn a total of 4,164 from holding Moneta Money Bank or generate 51.05% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.6% |
| Values | Daily Returns |
Moneta Money Bank vs. Fillamentum as
Performance |
| Timeline |
| Moneta Money Bank |
| Fillamentum as |
Moneta Money and Fillamentum Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Moneta Money and Fillamentum
The main advantage of trading using opposite Moneta Money and Fillamentum positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Moneta Money position performs unexpectedly, Fillamentum 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 Fillamentum will offset losses from the drop in Fillamentum's long position.| Moneta Money vs. Komercni Banka AS | Moneta Money vs. Cez AS | Moneta Money vs. Erste Group Bank | Moneta Money vs. Kofola CeskoSlovensko as |
| Fillamentum vs. Raiffeisen Bank International | Fillamentum vs. Vienna Insurance Group | Fillamentum vs. Moneta Money Bank | Fillamentum vs. JT ARCH INVESTMENTS |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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