Correlation Between SECURE ELECTRONIC and ABBEY MORTGAGE
Specify exactly 2 symbols:
By analyzing existing cross correlation between SECURE ELECTRONIC TECHNOLOGY and ABBEY MORTGAGE BANK, you can compare the effects of market volatilities on SECURE ELECTRONIC and ABBEY MORTGAGE 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 SECURE ELECTRONIC with a short position of ABBEY MORTGAGE. Check out your portfolio center. Please also check ongoing floating volatility patterns of SECURE ELECTRONIC and ABBEY MORTGAGE.
Diversification Opportunities for SECURE ELECTRONIC and ABBEY MORTGAGE
-0.08 | Correlation Coefficient |
Good diversification
The 3 months correlation between SECURE and ABBEY is -0.08. Overlapping area represents the amount of risk that can be diversified away by holding SECURE ELECTRONIC TECHNOLOGY and ABBEY MORTGAGE BANK in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ABBEY MORTGAGE BANK and SECURE ELECTRONIC 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 SECURE ELECTRONIC TECHNOLOGY are associated (or correlated) with ABBEY MORTGAGE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ABBEY MORTGAGE BANK has no effect on the direction of SECURE ELECTRONIC i.e., SECURE ELECTRONIC and ABBEY MORTGAGE go up and down completely randomly.
Pair Corralation between SECURE ELECTRONIC and ABBEY MORTGAGE
Assuming the 90 days trading horizon SECURE ELECTRONIC TECHNOLOGY is expected to under-perform the ABBEY MORTGAGE. In addition to that, SECURE ELECTRONIC is 1.5 times more volatile than ABBEY MORTGAGE BANK. It trades about -0.04 of its total potential returns per unit of risk. ABBEY MORTGAGE BANK is currently generating about 0.09 per unit of volatility. If you would invest 266.00 in ABBEY MORTGAGE BANK on September 14, 2024 and sell it today you would earn a total of 14.00 from holding ABBEY MORTGAGE BANK or generate 5.26% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
SECURE ELECTRONIC TECHNOLOGY vs. ABBEY MORTGAGE BANK
Performance |
| Timeline |
| SECURE ELECTRONIC |
| ABBEY MORTGAGE BANK |
SECURE ELECTRONIC and ABBEY MORTGAGE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SECURE ELECTRONIC and ABBEY MORTGAGE
The main advantage of trading using opposite SECURE ELECTRONIC and ABBEY MORTGAGE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SECURE ELECTRONIC position performs unexpectedly, ABBEY MORTGAGE 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 ABBEY MORTGAGE will offset losses from the drop in ABBEY MORTGAGE's long position.| SECURE ELECTRONIC vs. GUINEA INSURANCE PLC | SECURE ELECTRONIC vs. VFD GROUP | SECURE ELECTRONIC vs. IKEJA HOTELS PLC | SECURE ELECTRONIC vs. VETIVA S P |
| ABBEY MORTGAGE vs. BUA FOODS PLC | ABBEY MORTGAGE vs. NOTORE CHEMICAL IND | ABBEY MORTGAGE vs. VETIVA SUMER GOODS | ABBEY MORTGAGE vs. TRANSCORP HOTELS PLC |
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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
Other Complementary Tools
| Global Correlations Find global opportunities by holding instruments from different markets | |
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges | |
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios |