Correlation Between SASINI and CO OPERATIVE
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By analyzing existing cross correlation between SASINI LTD and CO OPERATIVE BANK OF, you can compare the effects of market volatilities on SASINI and CO OPERATIVE 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 SASINI with a short position of CO OPERATIVE. Check out your portfolio center. Please also check ongoing floating volatility patterns of SASINI and CO OPERATIVE.
Diversification Opportunities for SASINI and CO OPERATIVE
-0.65 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between SASINI and CBKL is -0.65. Overlapping area represents the amount of risk that can be diversified away by holding SASINI LTD and CO OPERATIVE BANK OF in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CO OPERATIVE BANK and SASINI 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 SASINI LTD are associated (or correlated) with CO OPERATIVE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CO OPERATIVE BANK has no effect on the direction of SASINI i.e., SASINI and CO OPERATIVE go up and down completely randomly.
Pair Corralation between SASINI and CO OPERATIVE
Assuming the 90 days trading horizon SASINI LTD is expected to under-perform the CO OPERATIVE. In addition to that, SASINI is 2.99 times more volatile than CO OPERATIVE BANK OF. It trades about -0.08 of its total potential returns per unit of risk. CO OPERATIVE BANK OF is currently generating about 0.08 per unit of volatility. If you would invest 1,335 in CO OPERATIVE BANK OF on September 4, 2024 and sell it today you would earn a total of 50.00 from holding CO OPERATIVE BANK OF or generate 3.75% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
SASINI LTD vs. CO OPERATIVE BANK OF
Performance |
| Timeline |
| SASINI LTD |
| CO OPERATIVE BANK |
SASINI and CO OPERATIVE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SASINI and CO OPERATIVE
The main advantage of trading using opposite SASINI and CO OPERATIVE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SASINI position performs unexpectedly, CO OPERATIVE 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 CO OPERATIVE will offset losses from the drop in CO OPERATIVE's long position.| SASINI vs. EQUITY GROUP HOLDINGS | SASINI vs. ABSA BANK OF | SASINI vs. BRITISH AMERICAN TOBACCO | SASINI vs. CO OPERATIVE BANK OF |
| CO OPERATIVE vs. KENYA RE INSURANCE PORATION | CO OPERATIVE vs. CIC INSURANCE GROUP | CO OPERATIVE vs. DIAMOND TRUST BANK | CO OPERATIVE vs. CARBACID INVESTMENTS LTD |
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 Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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