Correlation Between UNITY BANK and MULTI TREX
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By analyzing existing cross correlation between UNITY BANK PLC and MULTI TREX INTEGRATED FOODS, you can compare the effects of market volatilities on UNITY BANK and MULTI TREX 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 UNITY BANK with a short position of MULTI TREX. Check out your portfolio center. Please also check ongoing floating volatility patterns of UNITY BANK and MULTI TREX.
Diversification Opportunities for UNITY BANK and MULTI TREX
-1.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between UNITY and MULTI is -1.0. Overlapping area represents the amount of risk that can be diversified away by holding UNITY BANK PLC and MULTI TREX INTEGRATED FOODS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MULTI TREX INTEGRATED and UNITY 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 UNITY BANK PLC are associated (or correlated) with MULTI TREX. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MULTI TREX INTEGRATED has no effect on the direction of UNITY BANK i.e., UNITY BANK and MULTI TREX go up and down completely randomly.
Pair Corralation between UNITY BANK and MULTI TREX
If you would invest 51.00 in UNITY BANK PLC on November 5, 2024 and sell it today you would earn a total of 100.00 from holding UNITY BANK PLC or generate 196.08% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Strong |
| Accuracy | 99.79% |
| Values | Daily Returns |
UNITY BANK PLC vs. MULTI TREX INTEGRATED FOODS
Performance |
| Timeline |
| UNITY BANK PLC |
| MULTI TREX INTEGRATED |
UNITY BANK and MULTI TREX Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with UNITY BANK and MULTI TREX
The main advantage of trading using opposite UNITY BANK and MULTI TREX positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if UNITY BANK position performs unexpectedly, MULTI TREX 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 MULTI TREX will offset losses from the drop in MULTI TREX's long position.| UNITY BANK vs. LIVINGTRUST MORTGAGE BANK | UNITY BANK vs. ASO SAVINGS AND | UNITY BANK vs. UNITED BANK FOR | UNITY BANK vs. INDUSTRIAL MEDICAL GASES |
| MULTI TREX vs. CORNERSTONE INSURANCE PLC | MULTI TREX vs. AIICO INSURANCE PLC | MULTI TREX vs. INTERNATIONAL ENERGY INSURANCE | MULTI TREX vs. FIDELITY BANK PLC |
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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