Correlation Between STANDARD CHARTERED and TOTALENERGIES MARKETING
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By analyzing existing cross correlation between STANDARD CHARTERED BANK and TOTALENERGIES MARKETING KENYA, you can compare the effects of market volatilities on STANDARD CHARTERED and TOTALENERGIES MARKETING 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 STANDARD CHARTERED with a short position of TOTALENERGIES MARKETING. Check out your portfolio center. Please also check ongoing floating volatility patterns of STANDARD CHARTERED and TOTALENERGIES MARKETING.
Diversification Opportunities for STANDARD CHARTERED and TOTALENERGIES MARKETING
0.18 | Correlation Coefficient |
Average diversification
The 3 months correlation between STANDARD and TOTALENERGIES is 0.18. Overlapping area represents the amount of risk that can be diversified away by holding STANDARD CHARTERED BANK and TOTALENERGIES MARKETING KENYA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on TOTALENERGIES MARKETING and STANDARD CHARTERED 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 STANDARD CHARTERED BANK are associated (or correlated) with TOTALENERGIES MARKETING. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of TOTALENERGIES MARKETING has no effect on the direction of STANDARD CHARTERED i.e., STANDARD CHARTERED and TOTALENERGIES MARKETING go up and down completely randomly.
Pair Corralation between STANDARD CHARTERED and TOTALENERGIES MARKETING
Assuming the 90 days trading horizon STANDARD CHARTERED BANK is expected to generate 0.42 times more return on investment than TOTALENERGIES MARKETING. However, STANDARD CHARTERED BANK is 2.39 times less risky than TOTALENERGIES MARKETING. It trades about 0.08 of its potential returns per unit of risk. TOTALENERGIES MARKETING KENYA is currently generating about 0.01 per unit of risk. If you would invest 14,225 in STANDARD CHARTERED BANK on September 3, 2024 and sell it today you would earn a total of 10,100 from holding STANDARD CHARTERED BANK or generate 71.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 99.8% |
| Values | Daily Returns |
STANDARD CHARTERED BANK vs. TOTALENERGIES MARKETING KENYA
Performance |
| Timeline |
| STANDARD CHARTERED BANK |
| TOTALENERGIES MARKETING |
STANDARD CHARTERED and TOTALENERGIES MARKETING Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with STANDARD CHARTERED and TOTALENERGIES MARKETING
The main advantage of trading using opposite STANDARD CHARTERED and TOTALENERGIES MARKETING positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if STANDARD CHARTERED position performs unexpectedly, TOTALENERGIES MARKETING 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 TOTALENERGIES MARKETING will offset losses from the drop in TOTALENERGIES MARKETING's long position.| STANDARD CHARTERED vs. HOME AFRIKA LTD | STANDARD CHARTERED vs. ABSA BANK OF | STANDARD CHARTERED vs. DIAMOND TRUST BANK | STANDARD CHARTERED vs. CIC INSURANCE GROUP |
| TOTALENERGIES MARKETING vs. ABSA BANK OF | TOTALENERGIES MARKETING vs. CENTUM INVESTMENT PANY | TOTALENERGIES MARKETING vs. KENYA RE INSURANCE PORATION | TOTALENERGIES MARKETING 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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
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