Correlation Between SECURE ELECTRONIC and GOLDEN GUINEA
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By analyzing existing cross correlation between SECURE ELECTRONIC TECHNOLOGY and GOLDEN GUINEA BREWERIES, you can compare the effects of market volatilities on SECURE ELECTRONIC and GOLDEN GUINEA 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 GOLDEN GUINEA. Check out your portfolio center. Please also check ongoing floating volatility patterns of SECURE ELECTRONIC and GOLDEN GUINEA.
Diversification Opportunities for SECURE ELECTRONIC and GOLDEN GUINEA
-0.29 | Correlation Coefficient |
Very good diversification
The 3 months correlation between SECURE and GOLDEN is -0.29. Overlapping area represents the amount of risk that can be diversified away by holding SECURE ELECTRONIC TECHNOLOGY and GOLDEN GUINEA BREWERIES in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GOLDEN GUINEA BREWERIES 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 GOLDEN GUINEA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GOLDEN GUINEA BREWERIES has no effect on the direction of SECURE ELECTRONIC i.e., SECURE ELECTRONIC and GOLDEN GUINEA go up and down completely randomly.
Pair Corralation between SECURE ELECTRONIC and GOLDEN GUINEA
Assuming the 90 days trading horizon SECURE ELECTRONIC TECHNOLOGY is expected to under-perform the GOLDEN GUINEA. In addition to that, SECURE ELECTRONIC is 1.02 times more volatile than GOLDEN GUINEA BREWERIES. It trades about -0.08 of its total potential returns per unit of risk. GOLDEN GUINEA BREWERIES is currently generating about 0.81 per unit of volatility. If you would invest 370.00 in GOLDEN GUINEA BREWERIES on September 15, 2024 and sell it today you would earn a total of 494.00 from holding GOLDEN GUINEA BREWERIES or generate 133.51% 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. GOLDEN GUINEA BREWERIES
Performance |
| Timeline |
| SECURE ELECTRONIC |
| GOLDEN GUINEA BREWERIES |
SECURE ELECTRONIC and GOLDEN GUINEA Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SECURE ELECTRONIC and GOLDEN GUINEA
The main advantage of trading using opposite SECURE ELECTRONIC and GOLDEN GUINEA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SECURE ELECTRONIC position performs unexpectedly, GOLDEN GUINEA 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 GOLDEN GUINEA will offset losses from the drop in GOLDEN GUINEA's long position.| SECURE ELECTRONIC vs. UNIVERSAL INSURANCE PANY | SECURE ELECTRONIC vs. CHAMPION BREWERIES PLC | SECURE ELECTRONIC vs. CUSTODIAN INVESTMENT PLC | SECURE ELECTRONIC vs. DN TYRE RUBBER |
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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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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