Correlation Between Robinsons Retail and First Abacus
Can any of the company-specific risk be diversified away by investing in both Robinsons Retail and First Abacus 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 Robinsons Retail and First Abacus into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Robinsons Retail Holdings and First Abacus Financial, you can compare the effects of market volatilities on Robinsons Retail and First Abacus 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 Robinsons Retail with a short position of First Abacus. Check out your portfolio center. Please also check ongoing floating volatility patterns of Robinsons Retail and First Abacus.
Diversification Opportunities for Robinsons Retail and First Abacus
-0.37 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Robinsons and First is -0.37. Overlapping area represents the amount of risk that can be diversified away by holding Robinsons Retail Holdings and First Abacus Financial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on First Abacus Financial and Robinsons Retail 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 Robinsons Retail Holdings are associated (or correlated) with First Abacus. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of First Abacus Financial has no effect on the direction of Robinsons Retail i.e., Robinsons Retail and First Abacus go up and down completely randomly.
Pair Corralation between Robinsons Retail and First Abacus
If you would invest 69.00 in First Abacus Financial on August 28, 2024 and sell it today you would earn a total of 0.00 from holding First Abacus Financial or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 19.05% |
| Values | Daily Returns |
Robinsons Retail Holdings vs. First Abacus Financial
Performance |
| Timeline |
| Robinsons Retail Holdings |
| First Abacus Financial |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
OK
Robinsons Retail and First Abacus Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Robinsons Retail and First Abacus
The main advantage of trading using opposite Robinsons Retail and First Abacus positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Robinsons Retail position performs unexpectedly, First Abacus 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 First Abacus will offset losses from the drop in First Abacus' long position.| Robinsons Retail vs. Manila Mining Corp | Robinsons Retail vs. Top Frontier Investment | Robinsons Retail vs. Atlas Consolidated Mining | Robinsons Retail vs. Converge Information Communications |
| First Abacus vs. Bright Kindle Resources | First Abacus vs. Allhome Corp | First Abacus vs. Jollibee Foods Corp | First Abacus vs. LFM Properties 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 Stocks Directory module to find actively traded stocks across global markets.
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