Correlation Between MUCOBA BANK and Dow Jones
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By analyzing existing cross correlation between MUCOBA BANK PLC and Dow Jones Industrial, you can compare the effects of market volatilities on MUCOBA BANK and Dow Jones 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 MUCOBA BANK with a short position of Dow Jones. Check out your portfolio center. Please also check ongoing floating volatility patterns of MUCOBA BANK and Dow Jones.
Diversification Opportunities for MUCOBA BANK and Dow Jones
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between MUCOBA and Dow is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding MUCOBA BANK PLC and Dow Jones Industrial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dow Jones Industrial and MUCOBA BANK 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 MUCOBA BANK PLC are associated (or correlated) with Dow Jones. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dow Jones Industrial has no effect on the direction of MUCOBA BANK i.e., MUCOBA BANK and Dow Jones go up and down completely randomly.
Pair Corralation between MUCOBA BANK and Dow Jones
If you would invest 3,210,525 in Dow Jones Industrial on December 12, 2024 and sell it today you would earn a total of 932,823 from holding Dow Jones Industrial or generate 29.06% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 98.58% |
| Values | Daily Returns |
MUCOBA BANK PLC vs. Dow Jones Industrial
Performance |
| Timeline |
MUCOBA BANK and Dow Jones Volatility Contrast
Predicted Return Density |
| Returns |
MUCOBA BANK PLC
Pair trading matchups for MUCOBA BANK
Dow Jones Industrial
Pair trading matchups for Dow Jones
Pair Trading with MUCOBA BANK and Dow Jones
The main advantage of trading using opposite MUCOBA BANK and Dow Jones positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MUCOBA BANK position performs unexpectedly, Dow Jones 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 Dow Jones will offset losses from the drop in Dow Jones' long position.| MUCOBA BANK vs. CRDB BANK LTD | ||
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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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
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