Correlation Between UNIVERSAL PARTNERS and MCB GROUP
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By analyzing existing cross correlation between UNIVERSAL PARTNERS LTD and MCB GROUP LTD, you can compare the effects of market volatilities on UNIVERSAL PARTNERS and MCB GROUP 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 UNIVERSAL PARTNERS with a short position of MCB GROUP. Check out your portfolio center. Please also check ongoing floating volatility patterns of UNIVERSAL PARTNERS and MCB GROUP.
Diversification Opportunities for UNIVERSAL PARTNERS and MCB GROUP
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between UNIVERSAL and MCB is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding UNIVERSAL PARTNERS LTD and MCB GROUP LTD in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MCB GROUP LTD and UNIVERSAL PARTNERS 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 UNIVERSAL PARTNERS LTD are associated (or correlated) with MCB GROUP. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MCB GROUP LTD has no effect on the direction of UNIVERSAL PARTNERS i.e., UNIVERSAL PARTNERS and MCB GROUP go up and down completely randomly.
Pair Corralation between UNIVERSAL PARTNERS and MCB GROUP
Assuming the 90 days trading horizon UNIVERSAL PARTNERS LTD is expected to under-perform the MCB GROUP. But the stock apears to be less risky and, when comparing its historical volatility, UNIVERSAL PARTNERS LTD is 2.54 times less risky than MCB GROUP. The stock trades about -0.06 of its potential returns per unit of risk. The MCB GROUP LTD is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest 1,015 in MCB GROUP LTD on October 25, 2024 and sell it today you would earn a total of 75.00 from holding MCB GROUP LTD or generate 7.39% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
UNIVERSAL PARTNERS LTD vs. MCB GROUP LTD
Performance |
| Timeline |
| UNIVERSAL PARTNERS LTD |
| MCB GROUP LTD |
UNIVERSAL PARTNERS and MCB GROUP Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with UNIVERSAL PARTNERS and MCB GROUP
The main advantage of trading using opposite UNIVERSAL PARTNERS and MCB GROUP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if UNIVERSAL PARTNERS position performs unexpectedly, MCB GROUP 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 MCB GROUP will offset losses from the drop in MCB GROUP's long position.| UNIVERSAL PARTNERS vs. UNITED INVESTMENTS LTD | UNIVERSAL PARTNERS vs. PHOENIX BEVERAGES LTD | UNIVERSAL PARTNERS vs. ASTORIA INVESTMENT LTD | UNIVERSAL PARTNERS vs. AFREXIMBANK |
| MCB GROUP vs. PHOENIX INVESTMENT PANY | MCB GROUP vs. ASTORIA INVESTMENT LTD | MCB GROUP vs. PSG FINANCIAL SERVICES | MCB GROUP vs. AGAPE GLOBAL INVESTMENTS |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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