Correlation Between Anghami Warrants and CuriosityStream
Can any of the company-specific risk be diversified away by investing in both Anghami Warrants and CuriosityStream 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 CuriosityStream into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Anghami Warrants and CuriosityStream, you can compare the effects of market volatilities on Anghami Warrants and CuriosityStream 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 CuriosityStream. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anghami Warrants and CuriosityStream.
Diversification Opportunities for Anghami Warrants and CuriosityStream
-0.16 | Correlation Coefficient |
Good diversification
The 3 months correlation between Anghami and CuriosityStream is -0.16. Overlapping area represents the amount of risk that can be diversified away by holding Anghami Warrants and CuriosityStream in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CuriosityStream 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 CuriosityStream. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CuriosityStream has no effect on the direction of Anghami Warrants i.e., Anghami Warrants and CuriosityStream go up and down completely randomly.
Pair Corralation between Anghami Warrants and CuriosityStream
Assuming the 90 days horizon Anghami Warrants is expected to generate 0.57 times more return on investment than CuriosityStream. However, Anghami Warrants is 1.76 times less risky than CuriosityStream. It trades about -0.12 of its potential returns per unit of risk. CuriosityStream is currently generating about -0.18 per unit of risk. If you would invest 1.33 in Anghami Warrants on March 25, 2025 and sell it today you would lose (0.29) from holding Anghami Warrants or give up 21.8% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Anghami Warrants vs. CuriosityStream
Performance |
| Timeline |
| Anghami Warrants |
| CuriosityStream |
Anghami Warrants and CuriosityStream Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anghami Warrants and CuriosityStream
The main advantage of trading using opposite Anghami Warrants and CuriosityStream positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anghami Warrants position performs unexpectedly, CuriosityStream 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 CuriosityStream will offset losses from the drop in CuriosityStream's long position.| Anghami Warrants vs. Anghami De | Anghami Warrants vs. Thayer Ventures Acquisition | Anghami Warrants vs. Inspirato |
| CuriosityStream vs. Eos Energy Enterprises | CuriosityStream vs. CannBioRx Life Sciences | CuriosityStream vs. Advantage Solutions |
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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
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