Correlation Between SFS REAL and AFROMEDIA PLC
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By analyzing existing cross correlation between SFS REAL ESTATE and AFROMEDIA PLC, you can compare the effects of market volatilities on SFS REAL and AFROMEDIA PLC 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 SFS REAL with a short position of AFROMEDIA PLC. Check out your portfolio center. Please also check ongoing floating volatility patterns of SFS REAL and AFROMEDIA PLC.
Diversification Opportunities for SFS REAL and AFROMEDIA PLC
1.0 | Correlation Coefficient |
No risk reduction
The 3 months correlation between SFS and AFROMEDIA is 1.0. Overlapping area represents the amount of risk that can be diversified away by holding SFS REAL ESTATE and AFROMEDIA PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AFROMEDIA PLC and SFS REAL 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 SFS REAL ESTATE are associated (or correlated) with AFROMEDIA PLC. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AFROMEDIA PLC has no effect on the direction of SFS REAL i.e., SFS REAL and AFROMEDIA PLC go up and down completely randomly.
Pair Corralation between SFS REAL and AFROMEDIA PLC
If you would invest 24.00 in AFROMEDIA PLC on September 22, 2024 and sell it today you would earn a total of 0.00 from holding AFROMEDIA PLC or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 95.65% |
| Values | Daily Returns |
SFS REAL ESTATE vs. AFROMEDIA PLC
Performance |
| Timeline |
| SFS REAL ESTATE |
| AFROMEDIA PLC |
SFS REAL and AFROMEDIA PLC Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SFS REAL and AFROMEDIA PLC
The main advantage of trading using opposite SFS REAL and AFROMEDIA PLC positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SFS REAL position performs unexpectedly, AFROMEDIA PLC 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 AFROMEDIA PLC will offset losses from the drop in AFROMEDIA PLC's long position.| SFS REAL vs. ZENITH BANK PLC | SFS REAL vs. GUINEA INSURANCE PLC | SFS REAL vs. SECURE ELECTRONIC TECHNOLOGY | SFS REAL vs. CHELLARAMS PLC |
| AFROMEDIA PLC vs. GUINEA INSURANCE PLC | AFROMEDIA PLC vs. SECURE ELECTRONIC TECHNOLOGY | AFROMEDIA PLC vs. VFD GROUP | AFROMEDIA PLC vs. IKEJA HOTELS 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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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