Correlation Between TGCC SA and CFG BANK
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By analyzing existing cross correlation between TGCC SA and CFG BANK, you can compare the effects of market volatilities on TGCC SA and CFG BANK 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 TGCC SA with a short position of CFG BANK. Check out your portfolio center. Please also check ongoing floating volatility patterns of TGCC SA and CFG BANK.
Diversification Opportunities for TGCC SA and CFG BANK
Pay attention - limited upside
The 3 months correlation between TGCC and CFG is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding TGCC SA and CFG BANK in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CFG BANK and TGCC SA 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 TGCC SA are associated (or correlated) with CFG BANK. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CFG BANK has no effect on the direction of TGCC SA i.e., TGCC SA and CFG BANK go up and down completely randomly.
Pair Corralation between TGCC SA and CFG BANK
If you would invest 12,095 in CFG BANK on December 1, 2024 and sell it today you would earn a total of 11,605 from holding CFG BANK or generate 95.95% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.34% |
| Values | Daily Returns |
TGCC SA vs. CFG BANK
Performance |
| Timeline |
| TGCC SA |
Risk-Adjusted Performance
Solid
Weak | Strong |
| CFG BANK |
TGCC SA and CFG BANK Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with TGCC SA and CFG BANK
The main advantage of trading using opposite TGCC SA and CFG BANK positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if TGCC SA position performs unexpectedly, CFG BANK 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 CFG BANK will offset losses from the drop in CFG BANK's long position.| TGCC SA vs. CREDIT IMMOBILIER ET | ||
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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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
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