Correlation Between OneSpan and MUCOBA BANK
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By analyzing existing cross correlation between OneSpan and MUCOBA BANK PLC, you can compare the effects of market volatilities on OneSpan and MUCOBA BANK 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 OneSpan with a short position of MUCOBA BANK. Check out your portfolio center. Please also check ongoing floating volatility patterns of OneSpan and MUCOBA BANK.
Diversification Opportunities for OneSpan and MUCOBA BANK
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between OneSpan and MUCOBA is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding OneSpan and MUCOBA BANK PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MUCOBA BANK PLC and OneSpan 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 OneSpan are associated (or correlated) with MUCOBA BANK. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MUCOBA BANK PLC has no effect on the direction of OneSpan i.e., OneSpan and MUCOBA BANK go up and down completely randomly.
Pair Corralation between OneSpan and MUCOBA BANK
If you would invest 1,759 in OneSpan on December 12, 2024 and sell it today you would lose (168.00) from holding OneSpan or give up 9.55% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 98.78% |
| Values | Daily Returns |
OneSpan vs. MUCOBA BANK PLC
Performance |
| Timeline |
| OneSpan |
| MUCOBA BANK PLC |
OneSpan and MUCOBA BANK Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with OneSpan and MUCOBA BANK
The main advantage of trading using opposite OneSpan and MUCOBA BANK positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if OneSpan position performs unexpectedly, MUCOBA BANK 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 MUCOBA BANK will offset losses from the drop in MUCOBA BANK's long position.| OneSpan vs. Lesaka Technologies | ||
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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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
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