Correlation Between CoreShares Preference and Raubex
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By analyzing existing cross correlation between CoreShares Preference Share and Raubex, you can compare the effects of market volatilities on CoreShares Preference and Raubex 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 CoreShares Preference with a short position of Raubex. Check out your portfolio center. Please also check ongoing floating volatility patterns of CoreShares Preference and Raubex.
Diversification Opportunities for CoreShares Preference and Raubex
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between CoreShares and Raubex is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding CoreShares Preference Share and Raubex in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Raubex and CoreShares Preference 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 CoreShares Preference Share are associated (or correlated) with Raubex. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Raubex has no effect on the direction of CoreShares Preference i.e., CoreShares Preference and Raubex go up and down completely randomly.
Pair Corralation between CoreShares Preference and Raubex
Assuming the 90 days trading horizon CoreShares Preference Share is expected to under-perform the Raubex. But the etf apears to be less risky and, when comparing its historical volatility, CoreShares Preference Share is 4.86 times less risky than Raubex. The etf trades about -0.01 of its potential returns per unit of risk. The Raubex is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 261,849 in Raubex on September 3, 2024 and sell it today you would earn a total of 264,251 from holding Raubex or generate 100.92% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 99.8% |
| Values | Daily Returns |
CoreShares Preference Share vs. Raubex
Performance |
| Timeline |
| CoreShares Preference |
| Raubex |
CoreShares Preference and Raubex Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CoreShares Preference and Raubex
The main advantage of trading using opposite CoreShares Preference and Raubex positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CoreShares Preference position performs unexpectedly, Raubex 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 Raubex will offset losses from the drop in Raubex's long position.| CoreShares Preference vs. Libstar Holdings | CoreShares Preference vs. City Lodge Hotels | CoreShares Preference vs. African Media Entertainment | CoreShares Preference vs. Europa Metals |
| Raubex vs. Reinet Investments SCA | Raubex vs. HomeChoice Investments | Raubex vs. Life Healthcare | Raubex vs. We Buy Cars |
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 Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.
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