Correlation Between SASINI and ABSA NEW
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By analyzing existing cross correlation between SASINI LTD and ABSA NEW GOLD, you can compare the effects of market volatilities on SASINI and ABSA NEW 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 ABSA NEW. Check out your portfolio center. Please also check ongoing floating volatility patterns of SASINI and ABSA NEW.
Diversification Opportunities for SASINI and ABSA NEW
Pay attention - limited upside
The 3 months correlation between SASINI and ABSA is -0.86. Overlapping area represents the amount of risk that can be diversified away by holding SASINI LTD and ABSA NEW GOLD in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ABSA NEW GOLD 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 ABSA NEW. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ABSA NEW GOLD has no effect on the direction of SASINI i.e., SASINI and ABSA NEW go up and down completely randomly.
Pair Corralation between SASINI and ABSA NEW
If you would invest 322,000 in ABSA NEW GOLD on September 12, 2024 and sell it today you would earn a total of 0.00 from holding ABSA NEW GOLD or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
SASINI LTD vs. ABSA NEW GOLD
Performance |
| Timeline |
| SASINI LTD |
| ABSA NEW GOLD |
SASINI and ABSA NEW Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SASINI and ABSA NEW
The main advantage of trading using opposite SASINI and ABSA NEW positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SASINI position performs unexpectedly, ABSA NEW 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 ABSA NEW will offset losses from the drop in ABSA NEW's long position.| SASINI vs. HOMEBOYZ ENTERTAINMENT PLC | SASINI vs. CENTUM INVESTMENT PANY | SASINI vs. EAST AFRICAN BREWERIES | SASINI vs. CIC INSURANCE GROUP |
| ABSA NEW vs. KENYA RE INSURANCE PORATION | ABSA NEW vs. TOTALENERGIES MARKETING KENYA | ABSA NEW vs. HOME AFRIKA LTD | ABSA NEW vs. CO OPERATIVE BANK OF |
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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
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