Correlation Between Maj Invest and TROPHY GAMES
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By analyzing existing cross correlation between Maj Invest Glob and TROPHY GAMES Development, you can compare the effects of market volatilities on Maj Invest and TROPHY GAMES 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 Maj Invest with a short position of TROPHY GAMES. Check out your portfolio center. Please also check ongoing floating volatility patterns of Maj Invest and TROPHY GAMES.
Diversification Opportunities for Maj Invest and TROPHY GAMES
-0.52 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Maj and TROPHY is -0.52. Overlapping area represents the amount of risk that can be diversified away by holding Maj Invest Glob and TROPHY GAMES Development in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on TROPHY GAMES Development and Maj Invest 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 Maj Invest Glob are associated (or correlated) with TROPHY GAMES. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of TROPHY GAMES Development has no effect on the direction of Maj Invest i.e., Maj Invest and TROPHY GAMES go up and down completely randomly.
Pair Corralation between Maj Invest and TROPHY GAMES
Assuming the 90 days trading horizon Maj Invest Glob is expected to generate 0.2 times more return on investment than TROPHY GAMES. However, Maj Invest Glob is 4.92 times less risky than TROPHY GAMES. It trades about -0.36 of its potential returns per unit of risk. TROPHY GAMES Development is currently generating about -0.24 per unit of risk. If you would invest 14,260 in Maj Invest Glob on September 25, 2024 and sell it today you would lose (580.00) from holding Maj Invest Glob or give up 4.07% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Very Weak |
Accuracy | 95.45% |
Values | Daily Returns |
Maj Invest Glob vs. TROPHY GAMES Development
Performance |
Timeline |
Maj Invest Glob |
TROPHY GAMES Development |
Maj Invest and TROPHY GAMES Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Maj Invest and TROPHY GAMES
The main advantage of trading using opposite Maj Invest and TROPHY GAMES positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Maj Invest position performs unexpectedly, TROPHY GAMES 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 TROPHY GAMES will offset losses from the drop in TROPHY GAMES's long position.Maj Invest vs. TROPHY GAMES Development | Maj Invest vs. Laan Spar Bank | Maj Invest vs. NTG Nordic Transport | Maj Invest vs. Embla Medical hf |
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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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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