Correlation Between EGX 33 and Ismailia Misr
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By analyzing existing cross correlation between EGX 33 Shariah and Ismailia Misr Poultry, you can compare the effects of market volatilities on EGX 33 and Ismailia Misr 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 EGX 33 with a short position of Ismailia Misr. Check out your portfolio center. Please also check ongoing floating volatility patterns of EGX 33 and Ismailia Misr.
Diversification Opportunities for EGX 33 and Ismailia Misr
0.24 | Correlation Coefficient |
Modest diversification
The 3 months correlation between EGX and Ismailia is 0.24. Overlapping area represents the amount of risk that can be diversified away by holding EGX 33 Shariah and Ismailia Misr Poultry in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ismailia Misr Poultry and EGX 33 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 EGX 33 Shariah are associated (or correlated) with Ismailia Misr. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ismailia Misr Poultry has no effect on the direction of EGX 33 i.e., EGX 33 and Ismailia Misr go up and down completely randomly.
Pair Corralation between EGX 33 and Ismailia Misr
Assuming the 90 days trading horizon EGX 33 Shariah is expected to generate 0.39 times more return on investment than Ismailia Misr. However, EGX 33 Shariah is 2.6 times less risky than Ismailia Misr. It trades about 0.12 of its potential returns per unit of risk. Ismailia Misr Poultry is currently generating about 0.04 per unit of risk. If you would invest 260,972 in EGX 33 Shariah on November 7, 2024 and sell it today you would earn a total of 53,717 from holding EGX 33 Shariah or generate 20.58% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 79.87% |
| Values | Daily Returns |
EGX 33 Shariah vs. Ismailia Misr Poultry
Performance |
| Timeline |
EGX 33 and Ismailia Misr Volatility Contrast
Predicted Return Density |
| Returns |
EGX 33 Shariah
Pair trading matchups for EGX 33
Ismailia Misr Poultry
Pair trading matchups for Ismailia Misr
Pair Trading with EGX 33 and Ismailia Misr
The main advantage of trading using opposite EGX 33 and Ismailia Misr positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if EGX 33 position performs unexpectedly, Ismailia Misr 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 Ismailia Misr will offset losses from the drop in Ismailia Misr's long position.| EGX 33 vs. Misr Oils Soap | EGX 33 vs. Nile City Investment | EGX 33 vs. Saudi Egyptian Investment | EGX 33 vs. B Investments Holding |
| Ismailia Misr vs. Cairo For Investment | Ismailia Misr vs. Gadwa For Industrial | Ismailia Misr vs. Delta Insurance | Ismailia Misr vs. Misr Financial Investments |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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