Correlation Between TBC Bank and Moneta Money
Can any of the company-specific risk be diversified away by investing in both TBC Bank and Moneta Money 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 TBC Bank and Moneta Money into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between TBC Bank Group and Moneta Money Bank, you can compare the effects of market volatilities on TBC Bank and Moneta Money 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 TBC Bank with a short position of Moneta Money. Check out your portfolio center. Please also check ongoing floating volatility patterns of TBC Bank and Moneta Money.
Diversification Opportunities for TBC Bank and Moneta Money
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between TBC and Moneta is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding TBC Bank Group and Moneta Money Bank in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Moneta Money Bank and TBC Bank 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 TBC Bank Group are associated (or correlated) with Moneta Money. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Moneta Money Bank has no effect on the direction of TBC Bank i.e., TBC Bank and Moneta Money go up and down completely randomly.
Pair Corralation between TBC Bank and Moneta Money
If you would invest 297,500 in TBC Bank Group on December 12, 2024 and sell it today you would earn a total of 124,500 from holding TBC Bank Group or generate 41.85% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
TBC Bank Group vs. Moneta Money Bank
Performance |
| Timeline |
| TBC Bank Group |
| Moneta Money Bank |
TBC Bank and Moneta Money Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with TBC Bank and Moneta Money
The main advantage of trading using opposite TBC Bank and Moneta Money positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if TBC Bank position performs unexpectedly, Moneta Money 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 Moneta Money will offset losses from the drop in Moneta Money's long position.| TBC Bank vs. Solstad Offshore ASA | ||
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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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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