Correlation Between AFROMEDIA PLC and BUA FOODS
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By analyzing existing cross correlation between AFROMEDIA PLC and BUA FOODS PLC, you can compare the effects of market volatilities on AFROMEDIA PLC and BUA FOODS 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 AFROMEDIA PLC with a short position of BUA FOODS. Check out your portfolio center. Please also check ongoing floating volatility patterns of AFROMEDIA PLC and BUA FOODS.
Diversification Opportunities for AFROMEDIA PLC and BUA FOODS
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between AFROMEDIA and BUA is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding AFROMEDIA PLC and BUA FOODS PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BUA FOODS PLC and AFROMEDIA PLC 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 AFROMEDIA PLC are associated (or correlated) with BUA FOODS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BUA FOODS PLC has no effect on the direction of AFROMEDIA PLC i.e., AFROMEDIA PLC and BUA FOODS go up and down completely randomly.
Pair Corralation between AFROMEDIA PLC and BUA FOODS
If you would invest 19,670 in BUA FOODS PLC on June 10, 2025 and sell it today you would earn a total of 39,330 from holding BUA FOODS PLC or generate 199.95% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
AFROMEDIA PLC vs. BUA FOODS PLC
Performance |
| Timeline |
| AFROMEDIA PLC |
| BUA FOODS PLC |
AFROMEDIA PLC and BUA FOODS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AFROMEDIA PLC and BUA FOODS
The main advantage of trading using opposite AFROMEDIA PLC and BUA FOODS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AFROMEDIA PLC position performs unexpectedly, BUA FOODS 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 BUA FOODS will offset losses from the drop in BUA FOODS's long position.| AFROMEDIA PLC vs. JAIZ BANK PLC | AFROMEDIA PLC vs. UNION HOMES REAL | AFROMEDIA PLC vs. AFRICAN ALLIANCE INSURANCE | AFROMEDIA PLC vs. MULTI TREX INTEGRATED FOODS |
| BUA FOODS vs. MULTIVERSE MINING AND | BUA FOODS vs. INDUSTRIAL MEDICAL GASES | BUA FOODS vs. UNITY BANK PLC | BUA FOODS vs. MULTI TREX INTEGRATED FOODS |
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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