Correlation Between Republic Bancorp and MBGGR
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By analyzing existing cross correlation between Republic Bancorp and MBGGR 33 19 MAY 25, you can compare the effects of market volatilities on Republic Bancorp and MBGGR 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 Republic Bancorp with a short position of MBGGR. Check out your portfolio center. Please also check ongoing floating volatility patterns of Republic Bancorp and MBGGR.
Diversification Opportunities for Republic Bancorp and MBGGR
0.8 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Republic and MBGGR is 0.8. Overlapping area represents the amount of risk that can be diversified away by holding Republic Bancorp and MBGGR 33 19 MAY 25 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MBGGR 33 19 and Republic Bancorp 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 Republic Bancorp are associated (or correlated) with MBGGR. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MBGGR 33 19 has no effect on the direction of Republic Bancorp i.e., Republic Bancorp and MBGGR go up and down completely randomly.
Pair Corralation between Republic Bancorp and MBGGR
If you would invest 3,854 in Republic Bancorp on September 23, 2024 and sell it today you would earn a total of 3,317 from holding Republic Bancorp or generate 86.07% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Strong |
Accuracy | 0.2% |
Values | Daily Returns |
Republic Bancorp vs. MBGGR 33 19 MAY 25
Performance |
Timeline |
Republic Bancorp |
MBGGR 33 19 |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Republic Bancorp and MBGGR Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Republic Bancorp and MBGGR
The main advantage of trading using opposite Republic Bancorp and MBGGR positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Republic Bancorp position performs unexpectedly, MBGGR 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 MBGGR will offset losses from the drop in MBGGR's long position.Republic Bancorp vs. First Community | Republic Bancorp vs. Community West Bancshares | Republic Bancorp vs. First Financial Northwest | Republic Bancorp vs. First Northwest Bancorp |
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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
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