Correlation Between STANDARD CHARTERED and METAL FABRICATORS
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By analyzing existing cross correlation between STANDARD CHARTERED BANK and METAL FABRICATORS OF, you can compare the effects of market volatilities on STANDARD CHARTERED and METAL FABRICATORS 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 METAL FABRICATORS. Check out your portfolio center. Please also check ongoing floating volatility patterns of STANDARD CHARTERED and METAL FABRICATORS.
Diversification Opportunities for STANDARD CHARTERED and METAL FABRICATORS
-0.41 | Correlation Coefficient |
Very good diversification
The 3 months correlation between STANDARD and METAL is -0.41. Overlapping area represents the amount of risk that can be diversified away by holding STANDARD CHARTERED BANK and METAL FABRICATORS OF in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on METAL FABRICATORS 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 METAL FABRICATORS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of METAL FABRICATORS has no effect on the direction of STANDARD CHARTERED i.e., STANDARD CHARTERED and METAL FABRICATORS go up and down completely randomly.
Pair Corralation between STANDARD CHARTERED and METAL FABRICATORS
If you would invest 250.00 in STANDARD CHARTERED BANK on November 4, 2024 and sell it today you would earn a total of 0.00 from holding STANDARD CHARTERED BANK or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
STANDARD CHARTERED BANK vs. METAL FABRICATORS OF
Performance |
| Timeline |
| STANDARD CHARTERED BANK |
| METAL FABRICATORS |
STANDARD CHARTERED and METAL FABRICATORS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with STANDARD CHARTERED and METAL FABRICATORS
The main advantage of trading using opposite STANDARD CHARTERED and METAL FABRICATORS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if STANDARD CHARTERED position performs unexpectedly, METAL FABRICATORS 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 METAL FABRICATORS will offset losses from the drop in METAL FABRICATORS's long position.| STANDARD CHARTERED vs. CEC AFRICA INVESTMENTS | STANDARD CHARTERED vs. MADISON FINANCIAL SERVICES | STANDARD CHARTERED vs. BRITISH AMERICAN TOBACCO ZAMBIA | STANDARD CHARTERED vs. ZAMBIA REINSURANCE PLC |
| METAL FABRICATORS vs. ZAMBIA REINSURANCE PLC | METAL FABRICATORS vs. AECI MINING EXPLOSIVES | METAL FABRICATORS vs. MADISON FINANCIAL SERVICES | METAL FABRICATORS vs. NATIONAL BREWERIES PLC |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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