Correlation Between Otp Bank and EDINBURGH INVESTMENT

Specify exactly 2 symbols:
Can any of the company-specific risk be diversified away by investing in both Otp Bank and EDINBURGH INVESTMENT 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 Otp Bank and EDINBURGH INVESTMENT into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Otp Bank and EDINBURGH INVESTMENT TRUST, you can compare the effects of market volatilities on Otp Bank and EDINBURGH INVESTMENT 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 Otp Bank with a short position of EDINBURGH INVESTMENT. Check out your portfolio center. Please also check ongoing floating volatility patterns of Otp Bank and EDINBURGH INVESTMENT.

Diversification Opportunities for Otp Bank and EDINBURGH INVESTMENT

0.0
  Correlation Coefficient

Pay attention - limited upside

The 3 months correlation between OTPBF and EDINBURGH is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Otp Bank and EDINBURGH INVESTMENT TRUST PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on EDINBURGH INVESTMENT and Otp Bank 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 Otp Bank are associated (or correlated) with EDINBURGH INVESTMENT. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EDINBURGH INVESTMENT has no effect on the direction of Otp Bank i.e., Otp Bank and EDINBURGH INVESTMENT go up and down completely randomly.

Pair Corralation between Otp Bank and EDINBURGH INVESTMENT

If you would invest  2,110  in Otp Bank on July 5, 2022 and sell it today you would earn a total of  140.00  from holding Otp Bank or generate 6.64% return on investment over 90 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

Otp Bank  vs.  EDINBURGH INVESTMENT TRUST PLC

 Performance (%) 
       Timeline  
Otp Bank 
OTPBF Performance
0 of 100
Over the last 90 days Otp Bank has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of latest uncertain performance, the Stock's fundamental drivers remain sound and the latest tumult on Wall Street may also be a sign of longer-term gains for the firm shareholders.

OTPBF Price Channel

EDINBURGH INVESTMENT 
EDINBURGH Performance
0 of 100
Over the last 90 days EDINBURGH INVESTMENT TRUST has generated negative risk-adjusted returns adding no value to investors with long positions. Even with relatively steady basic indicators, EDINBURGH INVESTMENT is not utilizing all of its potentials. The new stock price chaos, may contribute to medium-term losses for the stakeholders.

Otp Bank and EDINBURGH INVESTMENT Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with Otp Bank and EDINBURGH INVESTMENT

The main advantage of trading using opposite Otp Bank and EDINBURGH INVESTMENT positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Otp Bank position performs unexpectedly, EDINBURGH INVESTMENT 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 EDINBURGH INVESTMENT will offset losses from the drop in EDINBURGH INVESTMENT's long position.
Otp Bank vs. Microsoft Corp
The idea behind Otp Bank and EDINBURGH INVESTMENT TRUST 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.
EDINBURGH INVESTMENT vs. GLAXOSMITHKLINE PLC ORD
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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.

Other Complementary Tools

Portfolio Comparator
Compare the composition, asset allocations and performance of any two portfolios in your account
Go
Technical Analysis
Check basic technical indicators and analysis based on most latest market data
Go
Portfolio File Import
Quickly import all of your third-party portfolios from your local drive in csv format
Go
Cryptocurrency Center
Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency
Go
Pair Correlation
Compare performance and examine fundamental relationship between any two equity instruments
Go
Sync Your Broker
Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors.
Go
Idea Optimizer
Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio
Go
Money Flow Index
Determine momentum by analyzing Money Flow Index and other technical indicators
Go
Price Exposure Probability
Analyze equity upside and downside potential for a given time horizon across multiple markets
Go
Portfolio Rebalancing
Analyze risk-adjusted returns against different time horizons to find asset-allocation targets
Go