Correlation Between NEW MAURITIUS and LOTTOTECH
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By analyzing existing cross correlation between NEW MAURITIUS HOTELS and LOTTOTECH LTD, you can compare the effects of market volatilities on NEW MAURITIUS and LOTTOTECH 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 LOTTOTECH. Check out your portfolio center. Please also check ongoing floating volatility patterns of NEW MAURITIUS and LOTTOTECH.
Diversification Opportunities for NEW MAURITIUS and LOTTOTECH
0.11 | Correlation Coefficient |
Average diversification
The 3 months correlation between NEW and LOTTOTECH is 0.11. Overlapping area represents the amount of risk that can be diversified away by holding NEW MAURITIUS HOTELS and LOTTOTECH LTD in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on LOTTOTECH 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 LOTTOTECH. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LOTTOTECH LTD has no effect on the direction of NEW MAURITIUS i.e., NEW MAURITIUS and LOTTOTECH go up and down completely randomly.
Pair Corralation between NEW MAURITIUS and LOTTOTECH
Assuming the 90 days trading horizon NEW MAURITIUS HOTELS is expected to generate 1.06 times more return on investment than LOTTOTECH. However, NEW MAURITIUS is 1.06 times more volatile than LOTTOTECH LTD. It trades about 0.05 of its potential returns per unit of risk. LOTTOTECH LTD is currently generating about -0.04 per unit of risk. If you would invest 1,035 in NEW MAURITIUS HOTELS on October 25, 2024 and sell it today you would earn a total of 315.00 from holding NEW MAURITIUS HOTELS or generate 30.43% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
NEW MAURITIUS HOTELS vs. LOTTOTECH LTD
Performance |
| Timeline |
| NEW MAURITIUS HOTELS |
| LOTTOTECH LTD |
NEW MAURITIUS and LOTTOTECH Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with NEW MAURITIUS and LOTTOTECH
The main advantage of trading using opposite NEW MAURITIUS and LOTTOTECH positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if NEW MAURITIUS position performs unexpectedly, LOTTOTECH 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 LOTTOTECH will offset losses from the drop in LOTTOTECH's long position.| NEW MAURITIUS vs. FINCORP INVESTMENT LTD | NEW MAURITIUS vs. UNIVERSAL PARTNERS LTD | NEW MAURITIUS vs. MCB GROUP LTD | NEW MAURITIUS vs. MUA LTD |
| LOTTOTECH vs. PHOENIX INVESTMENT PANY | LOTTOTECH vs. UNITED INVESTMENTS LTD | LOTTOTECH vs. BAYPORT MANAGEMENT LTD | LOTTOTECH vs. ASTORIA INVESTMENT LTD |
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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