Correlation Between SAMIR and CFG BANK
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By analyzing existing cross correlation between SAMIR and CFG BANK, you can compare the effects of market volatilities on SAMIR and CFG 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 SAMIR with a short position of CFG BANK. Check out your portfolio center. Please also check ongoing floating volatility patterns of SAMIR and CFG BANK.
Diversification Opportunities for SAMIR and CFG BANK
Pay attention - limited upside
The 3 months correlation between SAMIR and CFG is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding SAMIR and CFG BANK in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CFG BANK and SAMIR 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 SAMIR are associated (or correlated) with CFG BANK. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CFG BANK has no effect on the direction of SAMIR i.e., SAMIR and CFG BANK go up and down completely randomly.
Pair Corralation between SAMIR and CFG BANK
If you would invest 18,400 in CFG BANK on August 30, 2024 and sell it today you would earn a total of 2,500 from holding CFG BANK or generate 13.59% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
SAMIR vs. CFG BANK
Performance |
| Timeline |
| SAMIR |
| CFG BANK |
SAMIR and CFG BANK Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SAMIR and CFG BANK
The main advantage of trading using opposite SAMIR and CFG BANK positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SAMIR position performs unexpectedly, CFG 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 CFG BANK will offset losses from the drop in CFG BANK's long position.The idea behind SAMIR and CFG BANK pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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