Correlation Between NEW MAURITIUS and ASTORIA INVESTMENT
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By analyzing existing cross correlation between NEW MAURITIUS HOTELS and ASTORIA INVESTMENT LTD, you can compare the effects of market volatilities on NEW MAURITIUS and ASTORIA INVESTMENT 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 NEW MAURITIUS with a short position of ASTORIA INVESTMENT. Check out your portfolio center. Please also check ongoing floating volatility patterns of NEW MAURITIUS and ASTORIA INVESTMENT.
Diversification Opportunities for NEW MAURITIUS and ASTORIA INVESTMENT
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between NEW and ASTORIA is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding NEW MAURITIUS HOTELS and ASTORIA INVESTMENT LTD in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ASTORIA INVESTMENT LTD and NEW MAURITIUS 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 NEW MAURITIUS HOTELS are associated (or correlated) with ASTORIA INVESTMENT. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ASTORIA INVESTMENT LTD has no effect on the direction of NEW MAURITIUS i.e., NEW MAURITIUS and ASTORIA INVESTMENT go up and down completely randomly.
Pair Corralation between NEW MAURITIUS and ASTORIA INVESTMENT
If you would invest 858.00 in NEW MAURITIUS HOTELS on August 27, 2024 and sell it today you would earn a total of 572.00 from holding NEW MAURITIUS HOTELS or generate 66.67% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 72.39% |
| Values | Daily Returns |
NEW MAURITIUS HOTELS vs. ASTORIA INVESTMENT LTD
Performance |
| Timeline |
| NEW MAURITIUS HOTELS |
| ASTORIA INVESTMENT LTD |
NEW MAURITIUS and ASTORIA INVESTMENT Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with NEW MAURITIUS and ASTORIA INVESTMENT
The main advantage of trading using opposite NEW MAURITIUS and ASTORIA INVESTMENT positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if NEW MAURITIUS position performs unexpectedly, ASTORIA INVESTMENT 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 ASTORIA INVESTMENT will offset losses from the drop in ASTORIA INVESTMENT's long position.| NEW MAURITIUS vs. ASTORIA INVESTMENT LTD | NEW MAURITIUS vs. QUALITY BEVERAGES LTD | NEW MAURITIUS vs. PHOENIX BEVERAGES LTD | NEW MAURITIUS vs. CAVELL TOURISTIC INVESTMENTS |
| ASTORIA INVESTMENT vs. MCB GROUP LTD | ASTORIA INVESTMENT vs. LOTTOTECH LTD | ASTORIA INVESTMENT vs. NEW MAURITIUS HOTELS | ASTORIA INVESTMENT vs. MIWA SUGAR LIMITED |
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 Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.
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