Correlation Between EGX 33 and Nile City
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By analyzing existing cross correlation between EGX 33 Shariah and Nile City Investment, you can compare the effects of market volatilities on EGX 33 and Nile City 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 Nile City. Check out your portfolio center. Please also check ongoing floating volatility patterns of EGX 33 and Nile City.
Diversification Opportunities for EGX 33 and Nile City
Pay attention - limited upside
The 3 months correlation between EGX and Nile is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding EGX 33 Shariah and Nile City Investment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Nile City Investment 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 Nile City. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Nile City Investment has no effect on the direction of EGX 33 i.e., EGX 33 and Nile City go up and down completely randomly.
Pair Corralation between EGX 33 and Nile City
If you would invest 34,428 in Nile City Investment on September 1, 2024 and sell it today you would earn a total of 0.00 from holding Nile City Investment or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
EGX 33 Shariah vs. Nile City Investment
Performance |
| Timeline |
EGX 33 and Nile City Volatility Contrast
Predicted Return Density |
| Returns |
EGX 33 Shariah
Pair trading matchups for EGX 33
Nile City Investment
Pair trading matchups for Nile City
Pair Trading with EGX 33 and Nile City
The main advantage of trading using opposite EGX 33 and Nile City positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if EGX 33 position performs unexpectedly, Nile City 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 Nile City will offset losses from the drop in Nile City's long position.| EGX 33 vs. Misr Oils Soap | EGX 33 vs. Atlas For Investment | EGX 33 vs. Al Arafa Investment | EGX 33 vs. Arabia Investments Holding |
| Nile City vs. Taaleem Management Services | Nile City vs. Golden Textiles Clothes | Nile City vs. Al Arafa Investment | Nile City vs. Copper For Commercial |
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 Transaction History module to view history of all your transactions and understand their impact on performance.
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