Correlation Between ATT and MASSIN
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By analyzing existing cross correlation between ATT Inc and MASSIN 3067 01 APR 52, you can compare the effects of market volatilities on ATT and MASSIN 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 ATT with a short position of MASSIN. Check out your portfolio center. Please also check ongoing floating volatility patterns of ATT and MASSIN.
Diversification Opportunities for ATT and MASSIN
Good diversification
The 3 months correlation between ATT and MASSIN is -0.15. Overlapping area represents the amount of risk that can be diversified away by holding ATT Inc and MASSIN 3067 01 APR 52 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MASSIN 3067 01 and ATT 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 ATT Inc are associated (or correlated) with MASSIN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MASSIN 3067 01 has no effect on the direction of ATT i.e., ATT and MASSIN go up and down completely randomly.
Pair Corralation between ATT and MASSIN
Taking into account the 90-day investment horizon ATT Inc is expected to generate 0.47 times more return on investment than MASSIN. However, ATT Inc is 2.12 times less risky than MASSIN. It trades about 0.05 of its potential returns per unit of risk. MASSIN 3067 01 APR 52 is currently generating about 0.0 per unit of risk. If you would invest 1,688 in ATT Inc on September 3, 2024 and sell it today you would earn a total of 628.00 from holding ATT Inc or generate 37.2% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 45.45% |
| Values | Daily Returns |
ATT Inc vs. MASSIN 3067 01 APR 52
Performance |
| Timeline |
| ATT Inc |
| MASSIN 3067 01 |
ATT and MASSIN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ATT and MASSIN
The main advantage of trading using opposite ATT and MASSIN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ATT position performs unexpectedly, MASSIN 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 MASSIN will offset losses from the drop in MASSIN's long position.| ATT vs. Highway Holdings Limited | ATT vs. QCR Holdings | ATT vs. Partner Communications | ATT vs. Acumen Pharmaceuticals |
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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
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