Correlation Between Swvl Holdings and EzFill Holdings
Can any of the company-specific risk be diversified away by investing in both Swvl Holdings and EzFill Holdings at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Swvl Holdings and EzFill Holdings into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Swvl Holdings Corp and EzFill Holdings, you can compare the effects of market volatilities on Swvl Holdings and EzFill Holdings 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 Swvl Holdings with a short position of EzFill Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Swvl Holdings and EzFill Holdings.
Diversification Opportunities for Swvl Holdings and EzFill Holdings
-0.66 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Swvl and EzFill is -0.66. Overlapping area represents the amount of risk that can be diversified away by holding Swvl Holdings Corp and EzFill Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on EzFill Holdings and Swvl Holdings 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 Swvl Holdings Corp are associated (or correlated) with EzFill Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EzFill Holdings has no effect on the direction of Swvl Holdings i.e., Swvl Holdings and EzFill Holdings go up and down completely randomly.
Pair Corralation between Swvl Holdings and EzFill Holdings
Assuming the 90 days horizon Swvl Holdings Corp is expected to generate 6.92 times more return on investment than EzFill Holdings. However, Swvl Holdings is 6.92 times more volatile than EzFill Holdings. It trades about 0.07 of its potential returns per unit of risk. EzFill Holdings is currently generating about 0.02 per unit of risk. If you would invest 1.95 in Swvl Holdings Corp on September 19, 2024 and sell it today you would lose (0.64) from holding Swvl Holdings Corp or give up 32.82% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 96.68% |
| Values | Daily Returns |
Swvl Holdings Corp vs. EzFill Holdings
Performance |
| Timeline |
| Swvl Holdings Corp |
| EzFill Holdings |
Swvl Holdings and EzFill Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Swvl Holdings and EzFill Holdings
The main advantage of trading using opposite Swvl Holdings and EzFill Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Swvl Holdings position performs unexpectedly, EzFill Holdings 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 EzFill Holdings will offset losses from the drop in EzFill Holdings' long position.| Swvl Holdings vs. Dave Warrants | Swvl Holdings vs. Aquagold International | Swvl Holdings vs. Morningstar Unconstrained Allocation | Swvl Holdings vs. Thrivent High Yield |
| EzFill Holdings vs. Swvl Holdings Corp | EzFill Holdings vs. Guardforce AI Co | EzFill Holdings vs. Thayer Ventures Acquisition |
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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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