Correlation Between Oslo Exchange and MPC Container
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By analyzing existing cross correlation between Oslo Exchange Mutual and MPC Container Ships, you can compare the effects of market volatilities on Oslo Exchange and MPC Container 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 Oslo Exchange with a short position of MPC Container. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oslo Exchange and MPC Container.
Diversification Opportunities for Oslo Exchange and MPC Container
0.66 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Oslo and MPC is 0.66. Overlapping area represents the amount of risk that can be diversified away by holding Oslo Exchange Mutual and MPC Container Ships in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MPC Container Ships and Oslo Exchange 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 Oslo Exchange Mutual are associated (or correlated) with MPC Container. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MPC Container Ships has no effect on the direction of Oslo Exchange i.e., Oslo Exchange and MPC Container go up and down completely randomly.
Pair Corralation between Oslo Exchange and MPC Container
Assuming the 90 days trading horizon Oslo Exchange is expected to generate 6.53 times less return on investment than MPC Container. But when comparing it to its historical volatility, Oslo Exchange Mutual is 4.52 times less risky than MPC Container. It trades about 0.1 of its potential returns per unit of risk. MPC Container Ships is currently generating about 0.15 of returns per unit of risk over similar time horizon. If you would invest 2,341 in MPC Container Ships on August 25, 2024 and sell it today you would earn a total of 220.00 from holding MPC Container Ships or generate 9.4% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Oslo Exchange Mutual vs. MPC Container Ships
Performance |
| Timeline |
Oslo Exchange and MPC Container Volatility Contrast
Predicted Return Density |
| Returns |
Oslo Exchange Mutual
Pair trading matchups for Oslo Exchange
MPC Container Ships
Pair trading matchups for MPC Container
Pair Trading with Oslo Exchange and MPC Container
The main advantage of trading using opposite Oslo Exchange and MPC Container positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oslo Exchange position performs unexpectedly, MPC Container 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 MPC Container will offset losses from the drop in MPC Container's long position.| Oslo Exchange vs. Sparebanken Ost | Oslo Exchange vs. Waste Plastic Upcycling | Oslo Exchange vs. 5Th Planet Games | Oslo Exchange vs. Aurskog Sparebank |
| MPC Container vs. 2020 Bulkers | MPC Container vs. Belships | MPC Container vs. BW LPG | MPC Container vs. REC Silicon ASA |
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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
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