Correlation Between Visa and WIG Dividend
Specify exactly 2 symbols:
By analyzing existing cross correlation between Visa Class A and WIG Dividend, you can compare the effects of market volatilities on Visa and WIG Dividend 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 Visa with a short position of WIG Dividend. Check out your portfolio center. Please also check ongoing floating volatility patterns of Visa and WIG Dividend.
Diversification Opportunities for Visa and WIG Dividend
-0.73 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Visa and WIG is -0.73. Overlapping area represents the amount of risk that can be diversified away by holding Visa Class A and WIG Dividend in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on WIG Dividend and Visa 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 Visa Class A are associated (or correlated) with WIG Dividend. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of WIG Dividend has no effect on the direction of Visa i.e., Visa and WIG Dividend go up and down completely randomly.
Pair Corralation between Visa and WIG Dividend
Taking into account the 90-day investment horizon Visa Class A is expected to generate 1.36 times more return on investment than WIG Dividend. However, Visa is 1.36 times more volatile than WIG Dividend. It trades about 0.11 of its potential returns per unit of risk. WIG Dividend is currently generating about -0.03 per unit of risk. If you would invest 26,932 in Visa Class A on September 1, 2024 and sell it today you would earn a total of 4,576 from holding Visa Class A or generate 16.99% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 98.44% |
| Values | Daily Returns |
Visa Class A vs. WIG Dividend
Performance |
| Timeline |
Visa and WIG Dividend Volatility Contrast
Predicted Return Density |
| Returns |
Visa Class A
Pair trading matchups for Visa
WIG Dividend
Pair trading matchups for WIG Dividend
Pair Trading with Visa and WIG Dividend
The main advantage of trading using opposite Visa and WIG Dividend positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Visa position performs unexpectedly, WIG Dividend 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 WIG Dividend will offset losses from the drop in WIG Dividend's long position.| Visa vs. American Express | Visa vs. PayPal Holdings | Visa vs. Capital One Financial | Visa vs. Upstart Holdings |
| WIG Dividend vs. Cloud Technologies SA | WIG Dividend vs. Medicofarma Biotech SA | WIG Dividend vs. Mercator Medical SA | WIG Dividend vs. Skyline Investment SA |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
Other Complementary Tools
| Bonds Directory Find actively traded corporate debentures issued by US companies | |
| Price Exposure Probability Analyze equity upside and downside potential for a given time horizon across multiple markets | |
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios | |
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital |