Correlation Between Odin For and El Nasr
Can any of the company-specific risk be diversified away by investing in both Odin For and El Nasr at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Odin For and El Nasr into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Odin for Investment and El Nasr Clothes, you can compare the effects of market volatilities on Odin For and El Nasr 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 Odin For with a short position of El Nasr. Check out your portfolio center. Please also check ongoing floating volatility patterns of Odin For and El Nasr.
Diversification Opportunities for Odin For and El Nasr
Pay attention - limited upside
The 3 months correlation between Odin and KABO is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Odin for Investment and El Nasr Clothes in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on El Nasr Clothes and Odin For 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 Odin for Investment are associated (or correlated) with El Nasr. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of El Nasr Clothes has no effect on the direction of Odin For i.e., Odin For and El Nasr go up and down completely randomly.
Pair Corralation between Odin For and El Nasr
If you would invest 294.00 in El Nasr Clothes on September 14, 2024 and sell it today you would earn a total of 97.00 from holding El Nasr Clothes or generate 32.99% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Odin for Investment vs. El Nasr Clothes
Performance |
| Timeline |
| Odin for Investment |
| El Nasr Clothes |
Odin For and El Nasr Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Odin For and El Nasr
The main advantage of trading using opposite Odin For and El Nasr positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Odin For position performs unexpectedly, El Nasr 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 El Nasr will offset losses from the drop in El Nasr's long position.| Odin For vs. Paint Chemicals Industries | Odin For vs. Reacap Financial Investments | Odin For vs. Egyptians For Investment | Odin For vs. Misr Oils Soap |
| El Nasr vs. Act Financial | El Nasr vs. Arab Moltaka Investments | El Nasr vs. Egyptian Gulf Bank | El Nasr vs. Odin for Investment |
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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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