Correlation Between More Mutual and Multi Retail
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By analyzing existing cross correlation between More Mutual Funds and Multi Retail Group, you can compare the effects of market volatilities on More Mutual and Multi Retail 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 More Mutual with a short position of Multi Retail. Check out your portfolio center. Please also check ongoing floating volatility patterns of More Mutual and Multi Retail.
Diversification Opportunities for More Mutual and Multi Retail
0.89 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between More and Multi is 0.89. Overlapping area represents the amount of risk that can be diversified away by holding More Mutual Funds and Multi Retail Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Multi Retail Group and More Mutual 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 More Mutual Funds are associated (or correlated) with Multi Retail. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Multi Retail Group has no effect on the direction of More Mutual i.e., More Mutual and Multi Retail go up and down completely randomly.
Pair Corralation between More Mutual and Multi Retail
Assuming the 90 days trading horizon More Mutual is expected to generate 1.03 times less return on investment than Multi Retail. But when comparing it to its historical volatility, More Mutual Funds is 3.44 times less risky than Multi Retail. It trades about 0.69 of its potential returns per unit of risk. Multi Retail Group is currently generating about 0.21 of returns per unit of risk over similar time horizon. If you would invest 101,300 in Multi Retail Group on August 27, 2024 and sell it today you would earn a total of 9,600 from holding Multi Retail Group or generate 9.48% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
More Mutual Funds vs. Multi Retail Group
Performance |
| Timeline |
| More Mutual Funds |
| Multi Retail Group |
More Mutual and Multi Retail Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with More Mutual and Multi Retail
The main advantage of trading using opposite More Mutual and Multi Retail positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if More Mutual position performs unexpectedly, Multi Retail 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 Multi Retail will offset losses from the drop in Multi Retail's long position.| More Mutual vs. Sure Tech Investments LP | More Mutual vs. Arad Investment Industrial | More Mutual vs. Scope Metals Group | More Mutual vs. Clal Biotechnology Industries |
| Multi Retail vs. Brainsway | Multi Retail vs. Mivne Real Estate | Multi Retail vs. Photomyne | Multi Retail vs. Bezeq Israeli Telecommunication |
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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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