Correlation Between MCB GROUP and MCB GROUP
Specify exactly 2 symbols:
By analyzing existing cross correlation between MCB GROUP LTD and MCB GROUP LIMITED, you can compare the effects of market volatilities on MCB GROUP 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 MCB GROUP with a short position of MCB GROUP. Check out your portfolio center. Please also check ongoing floating volatility patterns of MCB GROUP and MCB GROUP.
Diversification Opportunities for MCB GROUP and MCB GROUP
Average diversification
The 3 months correlation between MCB and MCB is 0.11. Overlapping area represents the amount of risk that can be diversified away by holding MCB GROUP LTD and MCB GROUP LIMITED in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MCB GROUP LIMITED and MCB GROUP 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 MCB GROUP 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 LIMITED has no effect on the direction of MCB GROUP i.e., MCB GROUP and MCB GROUP go up and down completely randomly.
Pair Corralation between MCB GROUP and MCB GROUP
Assuming the 90 days trading horizon MCB GROUP is expected to generate 11.12 times less return on investment than MCB GROUP. In addition to that, MCB GROUP is 1.64 times more volatile than MCB GROUP LIMITED. It trades about 0.01 of its total potential returns per unit of risk. MCB GROUP LIMITED is currently generating about 0.11 per unit of volatility. If you would invest 34,000 in MCB GROUP LIMITED on September 26, 2024 and sell it today you would earn a total of 10,325 from holding MCB GROUP LIMITED or generate 30.37% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Insignificant |
Accuracy | 99.67% |
Values | Daily Returns |
MCB GROUP LTD vs. MCB GROUP LIMITED
Performance |
Timeline |
MCB GROUP LTD |
MCB GROUP LIMITED |
MCB GROUP and MCB GROUP Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with MCB GROUP and MCB GROUP
The main advantage of trading using opposite MCB GROUP and MCB GROUP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MCB GROUP 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.MCB GROUP vs. MCB GROUP LIMITED | MCB GROUP vs. LOTTOTECH LTD | MCB GROUP vs. LIVESTOCK FEED LTD | MCB GROUP vs. PSG FINANCIAL SERVICES |
MCB GROUP vs. MCB GROUP LTD | MCB GROUP vs. LOTTOTECH LTD | MCB GROUP vs. LIVESTOCK FEED LTD | MCB GROUP vs. PSG FINANCIAL SERVICES |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
Other Complementary Tools
Global Correlations Find global opportunities by holding instruments from different markets | |
Commodity Channel Use Commodity Channel Index to analyze current equity momentum | |
Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios | |
Analyst Advice Analyst recommendations and target price estimates broken down by several categories |