Correlation Between SECURE ELECTRONIC and NPF MICRO
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By analyzing existing cross correlation between SECURE ELECTRONIC TECHNOLOGY and NPF MICRO FINANCE, you can compare the effects of market volatilities on SECURE ELECTRONIC and NPF MICRO 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 NPF MICRO. Check out your portfolio center. Please also check ongoing floating volatility patterns of SECURE ELECTRONIC and NPF MICRO.
Diversification Opportunities for SECURE ELECTRONIC and NPF MICRO
0.33 | Correlation Coefficient |
Weak diversification
The 3 months correlation between SECURE and NPF is 0.33. Overlapping area represents the amount of risk that can be diversified away by holding SECURE ELECTRONIC TECHNOLOGY and NPF MICRO FINANCE in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on NPF MICRO FINANCE 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 NPF MICRO. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NPF MICRO FINANCE has no effect on the direction of SECURE ELECTRONIC i.e., SECURE ELECTRONIC and NPF MICRO go up and down completely randomly.
Pair Corralation between SECURE ELECTRONIC and NPF MICRO
Assuming the 90 days trading horizon SECURE ELECTRONIC TECHNOLOGY is expected to generate 1.63 times more return on investment than NPF MICRO. However, SECURE ELECTRONIC is 1.63 times more volatile than NPF MICRO FINANCE. It trades about 0.07 of its potential returns per unit of risk. NPF MICRO FINANCE is currently generating about 0.01 per unit of risk. If you would invest 22.00 in SECURE ELECTRONIC TECHNOLOGY on September 2, 2024 and sell it today you would earn a total of 33.00 from holding SECURE ELECTRONIC TECHNOLOGY or generate 150.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 84.84% |
| Values | Daily Returns |
SECURE ELECTRONIC TECHNOLOGY vs. NPF MICRO FINANCE
Performance |
| Timeline |
| SECURE ELECTRONIC |
| NPF MICRO FINANCE |
SECURE ELECTRONIC and NPF MICRO Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SECURE ELECTRONIC and NPF MICRO
The main advantage of trading using opposite SECURE ELECTRONIC and NPF MICRO positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SECURE ELECTRONIC position performs unexpectedly, NPF MICRO 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 NPF MICRO will offset losses from the drop in NPF MICRO's long position.| SECURE ELECTRONIC vs. VFD GROUP | SECURE ELECTRONIC vs. DEAP CAPITAL MANAGEMENT | SECURE ELECTRONIC vs. VETIVA INDUSTRIAL ETF |
| NPF MICRO vs. CORONATION INSURANCE PLC | NPF MICRO vs. JAIZ BANK PLC | NPF MICRO vs. CORNERSTONE INSURANCE PLC | NPF MICRO vs. AIICO INSURANCE 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 Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.
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