Correlation Between Cambridge Technology and MAS Financial
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By analyzing existing cross correlation between Cambridge Technology Enterprises and MAS Financial Services, you can compare the effects of market volatilities on Cambridge Technology and MAS Financial 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 Cambridge Technology with a short position of MAS Financial. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cambridge Technology and MAS Financial.
Diversification Opportunities for Cambridge Technology and MAS Financial
-0.27 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Cambridge and MAS is -0.27. Overlapping area represents the amount of risk that can be diversified away by holding Cambridge Technology Enterpris and MAS Financial Services in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MAS Financial Services and Cambridge Technology 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 Cambridge Technology Enterprises are associated (or correlated) with MAS Financial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MAS Financial Services has no effect on the direction of Cambridge Technology i.e., Cambridge Technology and MAS Financial go up and down completely randomly.
Pair Corralation between Cambridge Technology and MAS Financial
Assuming the 90 days trading horizon Cambridge Technology Enterprises is expected to generate 2.63 times more return on investment than MAS Financial. However, Cambridge Technology is 2.63 times more volatile than MAS Financial Services. It trades about 0.35 of its potential returns per unit of risk. MAS Financial Services is currently generating about -0.16 per unit of risk. If you would invest 8,576 in Cambridge Technology Enterprises on September 25, 2024 and sell it today you would earn a total of 2,138 from holding Cambridge Technology Enterprises or generate 24.93% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
Cambridge Technology Enterpris vs. MAS Financial Services
Performance |
Timeline |
Cambridge Technology |
MAS Financial Services |
Cambridge Technology and MAS Financial Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Cambridge Technology and MAS Financial
The main advantage of trading using opposite Cambridge Technology and MAS Financial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cambridge Technology position performs unexpectedly, MAS Financial 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 MAS Financial will offset losses from the drop in MAS Financial's long position.Cambridge Technology vs. State Bank of | Cambridge Technology vs. Life Insurance | Cambridge Technology vs. HDFC Bank Limited | Cambridge Technology vs. ICICI Bank Limited |
MAS Financial vs. Shree Pushkar Chemicals | MAS Financial vs. Cantabil Retail India | MAS Financial vs. Archean Chemical Industries | MAS Financial vs. Praxis Home Retail |
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 Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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