Correlation Between Anghami Warrants and Bandwidth
Can any of the company-specific risk be diversified away by investing in both Anghami Warrants and Bandwidth 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 Anghami Warrants and Bandwidth into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Anghami Warrants and Bandwidth, you can compare the effects of market volatilities on Anghami Warrants and Bandwidth 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 Anghami Warrants with a short position of Bandwidth. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anghami Warrants and Bandwidth.
Diversification Opportunities for Anghami Warrants and Bandwidth
-0.49 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Anghami and Bandwidth is -0.49. Overlapping area represents the amount of risk that can be diversified away by holding Anghami Warrants and Bandwidth in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bandwidth and Anghami Warrants 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 Anghami Warrants are associated (or correlated) with Bandwidth. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bandwidth has no effect on the direction of Anghami Warrants i.e., Anghami Warrants and Bandwidth go up and down completely randomly.
Pair Corralation between Anghami Warrants and Bandwidth
Assuming the 90 days horizon Anghami Warrants is expected to generate 4.67 times more return on investment than Bandwidth. However, Anghami Warrants is 4.67 times more volatile than Bandwidth. It trades about 0.12 of its potential returns per unit of risk. Bandwidth is currently generating about 0.05 per unit of risk. If you would invest 1.00 in Anghami Warrants on June 5, 2025 and sell it today you would earn a total of 0.40 from holding Anghami Warrants or generate 40.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 79.03% |
| Values | Daily Returns |
Anghami Warrants vs. Bandwidth
Performance |
| Timeline |
| Anghami Warrants |
| Bandwidth |
Anghami Warrants and Bandwidth Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anghami Warrants and Bandwidth
The main advantage of trading using opposite Anghami Warrants and Bandwidth positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anghami Warrants position performs unexpectedly, Bandwidth 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 Bandwidth will offset losses from the drop in Bandwidth's long position.| Anghami Warrants vs. Anghami De | Anghami Warrants vs. Inspirato | Anghami Warrants vs. Thayer Ventures Acquisition | Anghami Warrants vs. Roku Inc |
| Bandwidth vs. Appian Corp | Bandwidth vs. Five9 Inc | Bandwidth vs. DigitalOcean Holdings | Bandwidth vs. A10 Network |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
Other Complementary Tools
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| Transaction History View history of all your transactions and understand their impact on performance | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
| Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. |