Correlation Between MUCOBA BANK and NATIONAL MICROFINANCE
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By analyzing existing cross correlation between MUCOBA BANK PLC and NATIONAL MICROFINANCE BANK, you can compare the effects of market volatilities on MUCOBA BANK and NATIONAL MICROFINANCE 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 NATIONAL MICROFINANCE. Check out your portfolio center. Please also check ongoing floating volatility patterns of MUCOBA BANK and NATIONAL MICROFINANCE.
Diversification Opportunities for MUCOBA BANK and NATIONAL MICROFINANCE
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between MUCOBA and NATIONAL is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding MUCOBA BANK PLC and NATIONAL MICROFINANCE BANK in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on NATIONAL MICROFINANCE 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 NATIONAL MICROFINANCE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NATIONAL MICROFINANCE has no effect on the direction of MUCOBA BANK i.e., MUCOBA BANK and NATIONAL MICROFINANCE go up and down completely randomly.
Pair Corralation between MUCOBA BANK and NATIONAL MICROFINANCE
If you would invest 535,000 in NATIONAL MICROFINANCE BANK on November 4, 2024 and sell it today you would earn a total of 50,000 from holding NATIONAL MICROFINANCE BANK or generate 9.35% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
MUCOBA BANK PLC vs. NATIONAL MICROFINANCE BANK
Performance |
| Timeline |
| MUCOBA BANK PLC |
| NATIONAL MICROFINANCE |
MUCOBA BANK and NATIONAL MICROFINANCE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MUCOBA BANK and NATIONAL MICROFINANCE
The main advantage of trading using opposite MUCOBA BANK and NATIONAL MICROFINANCE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MUCOBA BANK position performs unexpectedly, NATIONAL MICROFINANCE 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 NATIONAL MICROFINANCE will offset losses from the drop in NATIONAL MICROFINANCE's long position.| MUCOBA BANK vs. YETU MICROFINANCE PLC | MUCOBA BANK vs. CRDB BANK LTD | MUCOBA BANK vs. NATION MEDIA GROUP | MUCOBA BANK vs. MWALIMU MERCIAL BANK |
| NATIONAL MICROFINANCE vs. YETU MICROFINANCE PLC | NATIONAL MICROFINANCE vs. CRDB BANK LTD | NATIONAL MICROFINANCE vs. NATION MEDIA GROUP | NATIONAL MICROFINANCE vs. MWALIMU MERCIAL BANK |
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 Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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