Correlation Between Nile City and EGX 33
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By analyzing existing cross correlation between Nile City Investment and EGX 33 Shariah, you can compare the effects of market volatilities on Nile City and EGX 33 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 Nile City with a short position of EGX 33. Check out your portfolio center. Please also check ongoing floating volatility patterns of Nile City and EGX 33.
Diversification Opportunities for Nile City and EGX 33
Pay attention - limited upside
The 3 months correlation between Nile and EGX is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Nile City Investment and EGX 33 Shariah in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on EGX 33 Shariah and Nile City 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 Nile City Investment are associated (or correlated) with EGX 33. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EGX 33 Shariah has no effect on the direction of Nile City i.e., Nile City and EGX 33 go up and down completely randomly.
Pair Corralation between Nile City and EGX 33
If you would invest 260,972 in EGX 33 Shariah on September 3, 2024 and sell it today you would earn a total of 54,925 from holding EGX 33 Shariah or generate 21.05% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 94.85% |
| Values | Daily Returns |
Nile City Investment vs. EGX 33 Shariah
Performance |
| Timeline |
Nile City and EGX 33 Volatility Contrast
Predicted Return Density |
| Returns |
Nile City Investment
Pair trading matchups for Nile City
EGX 33 Shariah
Pair trading matchups for EGX 33
Pair Trading with Nile City and EGX 33
The main advantage of trading using opposite Nile City and EGX 33 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Nile City position performs unexpectedly, EGX 33 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 EGX 33 will offset losses from the drop in EGX 33's long position.| Nile City vs. Paint Chemicals Industries | Nile City vs. Egyptians For Investment | Nile City vs. Misr Oils Soap | Nile City vs. Global Telecom Holding |
| EGX 33 vs. Reacap Financial Investments | EGX 33 vs. Egyptian Iron Steel | EGX 33 vs. Iron And Steel | EGX 33 vs. Egyptian Transport |
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 CEOs Directory module to screen CEOs from public companies around the world.
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