Correlation Between Easy Technologies and CIMB Group
Can any of the company-specific risk be diversified away by investing in both Easy Technologies and CIMB Group 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 Easy Technologies and CIMB Group into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Easy Technologies and CIMB Group Holdings, you can compare the effects of market volatilities on Easy Technologies and CIMB 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 Easy Technologies with a short position of CIMB Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Easy Technologies and CIMB Group.
Diversification Opportunities for Easy Technologies and CIMB Group
-1.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Easy and CIMB is -1.0. Overlapping area represents the amount of risk that can be diversified away by holding Easy Technologies and CIMB Group Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CIMB Group Holdings and Easy Technologies 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 Easy Technologies are associated (or correlated) with CIMB Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CIMB Group Holdings has no effect on the direction of Easy Technologies i.e., Easy Technologies and CIMB Group go up and down completely randomly.
Pair Corralation between Easy Technologies and CIMB Group
If you would invest 130.00 in CIMB Group Holdings on February 2, 2024 and sell it today you would earn a total of 0.00 from holding CIMB Group Holdings or generate 0.0% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Strong |
Accuracy | 4.55% |
Values | Daily Returns |
Easy Technologies vs. CIMB Group Holdings
Performance |
Timeline |
Easy Technologies |
CIMB Group Holdings |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Easy Technologies and CIMB Group Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Easy Technologies and CIMB Group
The main advantage of trading using opposite Easy Technologies and CIMB Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Easy Technologies position performs unexpectedly, CIMB 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 CIMB Group will offset losses from the drop in CIMB Group's long position.Easy Technologies vs. Nouveau Life Pharmaceuticals | Easy Technologies vs. eWellness Healthcare Corp | Easy Technologies vs. Cannabis Sativa | Easy Technologies vs. Mitesco |
CIMB Group vs. Kasikornbank Public Co | CIMB Group vs. Turkiye Garanti Bankasi | CIMB Group vs. Hang Seng Bank | CIMB Group vs. PT Bank Rakyat |
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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
Other Complementary Tools
Equity Valuation Check real value of public entities based on technical and fundamental data | |
ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges | |
Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
ETFs Find actively traded Exchange Traded Funds (ETF) from around the world | |
Price Exposure Probability Analyze equity upside and downside potential for a given time horizon across multiple markets | |
Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges | |
Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios |