Correlation Between Marlowe Plc and FIT Hon
Can any of the company-specific risk be diversified away by investing in both Marlowe Plc and FIT Hon 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 Marlowe Plc and FIT Hon into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Marlowe plc and FIT Hon Teng, you can compare the effects of market volatilities on Marlowe Plc and FIT Hon 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 Marlowe Plc with a short position of FIT Hon. Check out your portfolio center. Please also check ongoing floating volatility patterns of Marlowe Plc and FIT Hon.
Diversification Opportunities for Marlowe Plc and FIT Hon
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Marlowe and FIT is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Marlowe plc and FIT Hon Teng in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FIT Hon Teng and Marlowe Plc 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 Marlowe plc are associated (or correlated) with FIT Hon. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FIT Hon Teng has no effect on the direction of Marlowe Plc i.e., Marlowe Plc and FIT Hon go up and down completely randomly.
Pair Corralation between Marlowe Plc and FIT Hon
If you would invest (100.00) in FIT Hon Teng on October 1, 2024 and sell it today you would earn a total of 100.00 from holding FIT Hon Teng or generate -100.0% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 0.0% |
Values | Daily Returns |
Marlowe plc vs. FIT Hon Teng
Performance |
Timeline |
Marlowe plc |
FIT Hon Teng |
Marlowe Plc and FIT Hon Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Marlowe Plc and FIT Hon
The main advantage of trading using opposite Marlowe Plc and FIT Hon positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Marlowe Plc position performs unexpectedly, FIT Hon 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 FIT Hon will offset losses from the drop in FIT Hon's long position.Marlowe Plc vs. CoreCivic | ||
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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 Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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