Correlation Between Sky Harbour and Anghami De

Can any of the company-specific risk be diversified away by investing in both Sky Harbour and Anghami De 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 Sky Harbour and Anghami De into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Sky Harbour Group and Anghami De, you can compare the effects of market volatilities on Sky Harbour and Anghami De 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 Sky Harbour with a short position of Anghami De. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sky Harbour and Anghami De.

Diversification Opportunities for Sky Harbour and Anghami De

0.3

Correlation Coefficient

Sky Harbour  Anghami De

Weak diversification

The 3 months correlation between Sky and Anghami is 0.3. Overlapping area represents the amount of risk that can be diversified away by holding Sky Harbour Group and Anghami De in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anghami De and Sky Harbour 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 Sky Harbour Group are associated (or correlated) with Anghami De. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anghami De has no effect on the direction of Sky Harbour i.e., Sky Harbour and Anghami De go up and down completely randomly.

Pair Corralation between Sky Harbour and Anghami De

Given the investment horizon of 90 days Sky Harbour Group is expected to under-perform the Anghami De. But the stock apears to be less risky and, when comparing its historical volatility, Sky Harbour Group is 4.03 times less risky than Anghami De. The stock trades about -0.09 of its potential returns per unit of risk. The Anghami De is currently generating about -0.02 of returns per unit of risk over similar time horizon. If you would invest  510.00  in Anghami De on May 7, 2025 and sell it today you would lose (142.00) from holding Anghami De or give up 27.84% of portfolio value over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Very Weak
Accuracy	100.0%
Values	Daily Returns

Sky Harbour Group  vs.  Anghami De

Sky Harbour Group

Risk-Adjusted Performance

Weakest

Over the last 90 days Sky Harbour Group has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest inconsistent performance, the Stock's basic indicators remain strong and the recent confusion on Wall Street may also be a sign of long-lasting gains for the firm traders.

Anghami De

Risk-Adjusted Performance

Weakest

Over the last 90 days Anghami De has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest abnormal performance, the Stock's technical and fundamental indicators remain strong and the recent confusion on Wall Street may also be a sign of long-lasting gains for the firm traders.

Pair Trading with Sky Harbour and Anghami De

The main advantage of trading using opposite Sky Harbour and Anghami De positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sky Harbour position performs unexpectedly, Anghami De 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 Anghami De will offset losses from the drop in Anghami De's long position.

The idea behind Sky Harbour Group and Anghami De pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.