Correlation Between Athens General and Karachi 100
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By analyzing existing cross correlation between Athens General Composite and Karachi 100, you can compare the effects of market volatilities on Athens General and Karachi 100 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 Athens General with a short position of Karachi 100. Check out your portfolio center. Please also check ongoing floating volatility patterns of Athens General and Karachi 100.
Diversification Opportunities for Athens General and Karachi 100
0.21 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Athens and Karachi is 0.21. Overlapping area represents the amount of risk that can be diversified away by holding Athens General Composite and Karachi 100 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Karachi 100 and Athens General 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 Athens General Composite are associated (or correlated) with Karachi 100. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Karachi 100 has no effect on the direction of Athens General i.e., Athens General and Karachi 100 go up and down completely randomly.
Pair Corralation between Athens General and Karachi 100
Assuming the 90 days trading horizon Athens General is expected to generate 1.02 times less return on investment than Karachi 100. In addition to that, Athens General is 1.08 times more volatile than Karachi 100. It trades about 0.1 of its total potential returns per unit of risk. Karachi 100 is currently generating about 0.11 per unit of volatility. If you would invest 4,286,315 in Karachi 100 on January 31, 2024 and sell it today you would earn a total of 2,987,960 from holding Karachi 100 or generate 69.71% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Very Weak |
Accuracy | 98.58% |
Values | Daily Returns |
Athens General Composite vs. Karachi 100
Performance |
Timeline |
Athens General and Karachi 100 Volatility Contrast
Predicted Return Density |
Returns |
Athens General Composite
Pair trading matchups for Athens General
Karachi 100
Pair trading matchups for Karachi 100
Pair Trading with Athens General and Karachi 100
The main advantage of trading using opposite Athens General and Karachi 100 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Athens General position performs unexpectedly, Karachi 100 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 Karachi 100 will offset losses from the drop in Karachi 100's long position.Athens General vs. Logismos Information Systems | Athens General vs. Sidma SA Steel | Athens General vs. Lampsa Hellenic Hotels | Athens General vs. Profile Systems Software |
Karachi 100 vs. TPL Insurance | Karachi 100 vs. Nimir Industrial Chemical | Karachi 100 vs. Reliance Insurance Co | Karachi 100 vs. EFU General Insurance |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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