Correlation Between Microsoft and MASSIN
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By analyzing existing cross correlation between Microsoft and MASSIN 3067 01 APR 52, you can compare the effects of market volatilities on Microsoft and MASSIN 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 Microsoft with a short position of MASSIN. Check out your portfolio center. Please also check ongoing floating volatility patterns of Microsoft and MASSIN.
Diversification Opportunities for Microsoft and MASSIN
Very good diversification
The 3 months correlation between Microsoft and MASSIN is -0.27. Overlapping area represents the amount of risk that can be diversified away by holding Microsoft and MASSIN 3067 01 APR 52 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MASSIN 3067 01 and Microsoft 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 Microsoft are associated (or correlated) with MASSIN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MASSIN 3067 01 has no effect on the direction of Microsoft i.e., Microsoft and MASSIN go up and down completely randomly.
Pair Corralation between Microsoft and MASSIN
Given the investment horizon of 90 days Microsoft is expected to generate 0.44 times more return on investment than MASSIN. However, Microsoft is 2.29 times less risky than MASSIN. It trades about 0.09 of its potential returns per unit of risk. MASSIN 3067 01 APR 52 is currently generating about 0.01 per unit of risk. If you would invest 23,571 in Microsoft on September 24, 2024 and sell it today you would earn a total of 20,089 from holding Microsoft or generate 85.23% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 45.67% |
Values | Daily Returns |
Microsoft vs. MASSIN 3067 01 APR 52
Performance |
Timeline |
Microsoft |
MASSIN 3067 01 |
Microsoft and MASSIN Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Microsoft and MASSIN
The main advantage of trading using opposite Microsoft and MASSIN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Microsoft position performs unexpectedly, MASSIN 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 MASSIN will offset losses from the drop in MASSIN's long position.Microsoft vs. BlackBerry | Microsoft vs. Global Blue Group | Microsoft vs. Aurora Mobile | Microsoft vs. Marqeta |
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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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
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