Correlation Between PT Bank and ZeroFox Holdings
Can any of the company-specific risk be diversified away by investing in both PT Bank and ZeroFox Holdings 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 PT Bank and ZeroFox Holdings into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between PT Bank Central and ZeroFox Holdings, you can compare the effects of market volatilities on PT Bank and ZeroFox Holdings 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 PT Bank with a short position of ZeroFox Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of PT Bank and ZeroFox Holdings.
Diversification Opportunities for PT Bank and ZeroFox Holdings
0.67 | Correlation Coefficient |
Poor diversification
The 3 months correlation between PBCRF and ZeroFox is 0.67. Overlapping area represents the amount of risk that can be diversified away by holding PT Bank Central and ZeroFox Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ZeroFox Holdings and PT Bank 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 PT Bank Central are associated (or correlated) with ZeroFox Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ZeroFox Holdings has no effect on the direction of PT Bank i.e., PT Bank and ZeroFox Holdings go up and down completely randomly.
Pair Corralation between PT Bank and ZeroFox Holdings
Assuming the 90 days horizon PT Bank Central is expected to generate 0.33 times more return on investment than ZeroFox Holdings. However, PT Bank Central is 3.05 times less risky than ZeroFox Holdings. It trades about 0.02 of its potential returns per unit of risk. ZeroFox Holdings is currently generating about -0.05 per unit of risk. If you would invest 53.00 in PT Bank Central on October 24, 2024 and sell it today you would earn a total of 6.00 from holding PT Bank Central or generate 11.32% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 24.54% |
| Values | Daily Returns |
PT Bank Central vs. ZeroFox Holdings
Performance |
| Timeline |
| PT Bank Central |
| ZeroFox Holdings |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
PT Bank and ZeroFox Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with PT Bank and ZeroFox Holdings
The main advantage of trading using opposite PT Bank and ZeroFox Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if PT Bank position performs unexpectedly, ZeroFox Holdings 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 ZeroFox Holdings will offset losses from the drop in ZeroFox Holdings' long position.| PT Bank vs. Commercial International Bank | PT Bank vs. Caixabank SA ADR | PT Bank vs. Bank Rakyat | PT Bank vs. Lloyds Banking Group |
| ZeroFox Holdings vs. Cerberus Cyber Sentinel | ZeroFox Holdings vs. Gorilla Technology Group | ZeroFox Holdings vs. Taoping | ZeroFox Holdings vs. VirnetX Holding Corp |
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 CEOs Directory module to screen CEOs from public companies around the world.
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