Correlation Between Visa and Dosni Roha
Can any of the company-specific risk be diversified away by investing in both Visa and Dosni Roha 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 Visa and Dosni Roha into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Visa Class A and Dosni Roha Indonesia, you can compare the effects of market volatilities on Visa and Dosni Roha 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 Dosni Roha. Check out your portfolio center. Please also check ongoing floating volatility patterns of Visa and Dosni Roha.
Diversification Opportunities for Visa and Dosni Roha
-0.62 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Visa and Dosni is -0.62. Overlapping area represents the amount of risk that can be diversified away by holding Visa Class A and Dosni Roha Indonesia in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dosni Roha Indonesia 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 Dosni Roha. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dosni Roha Indonesia has no effect on the direction of Visa i.e., Visa and Dosni Roha go up and down completely randomly.
Pair Corralation between Visa and Dosni Roha
Taking into account the 90-day investment horizon Visa Class A is expected to generate 0.31 times more return on investment than Dosni Roha. However, Visa Class A is 3.24 times less risky than Dosni Roha. It trades about 0.1 of its potential returns per unit of risk. Dosni Roha Indonesia is currently generating about -0.13 per unit of risk. If you would invest 21,671 in Visa Class A on December 11, 2024 and sell it today you would earn a total of 12,477 from holding Visa Class A or generate 57.57% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 94.52% |
| Values | Daily Returns |
Visa Class A vs. Dosni Roha Indonesia
Performance |
| Timeline |
| Visa Class A |
| Dosni Roha Indonesia |
Visa and Dosni Roha Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Visa and Dosni Roha
The main advantage of trading using opposite Visa and Dosni Roha positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Visa position performs unexpectedly, Dosni Roha 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 Dosni Roha will offset losses from the drop in Dosni Roha's long position.| Visa vs. American Express | ||
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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 Directory module to find actively traded commodities issued by global exchanges.
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