Correlation Between MWIG40 and Mlk Foods
Specify exactly 2 symbols:
By analyzing existing cross correlation between MWIG40 and Mlk Foods Public, you can compare the effects of market volatilities on MWIG40 and Mlk Foods 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 MWIG40 with a short position of Mlk Foods. Check out your portfolio center. Please also check ongoing floating volatility patterns of MWIG40 and Mlk Foods.
Diversification Opportunities for MWIG40 and Mlk Foods
Good diversification
The 3 months correlation between MWIG40 and Mlk is -0.05. Overlapping area represents the amount of risk that can be diversified away by holding MWIG40 and Mlk Foods Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mlk Foods Public and MWIG40 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 MWIG40 are associated (or correlated) with Mlk Foods. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mlk Foods Public has no effect on the direction of MWIG40 i.e., MWIG40 and Mlk Foods go up and down completely randomly.
Pair Corralation between MWIG40 and Mlk Foods
Assuming the 90 days trading horizon MWIG40 is expected to generate 1.64 times less return on investment than Mlk Foods. But when comparing it to its historical volatility, MWIG40 is 3.84 times less risky than Mlk Foods. It trades about 0.08 of its potential returns per unit of risk. Mlk Foods Public is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 83.00 in Mlk Foods Public on September 3, 2024 and sell it today you would earn a total of 31.00 from holding Mlk Foods Public or generate 37.35% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
MWIG40 vs. Mlk Foods Public
Performance |
| Timeline |
MWIG40 and Mlk Foods Volatility Contrast
Predicted Return Density |
| Returns |
MWIG40
Pair trading matchups for MWIG40
Mlk Foods Public
Pair trading matchups for Mlk Foods
Pair Trading with MWIG40 and Mlk Foods
The main advantage of trading using opposite MWIG40 and Mlk Foods positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MWIG40 position performs unexpectedly, Mlk Foods 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 Mlk Foods will offset losses from the drop in Mlk Foods' long position.| MWIG40 vs. Mlk Foods Public | MWIG40 vs. CI Games SA | MWIG40 vs. SOFTWARE MANSION SPOLKA | MWIG40 vs. Carlson Investments SA |
| Mlk Foods vs. Globe Trade Centre | Mlk Foods vs. UF Games SA | Mlk Foods vs. TEN SQUARE GAMES | Mlk Foods vs. Ultimate Games SA |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
Other Complementary Tools
| Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
| Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges | |
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments |