Correlation Between Metro Global and Vantage Towers
Can any of the company-specific risk be diversified away by investing in both Metro Global and Vantage Towers 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 Metro Global and Vantage Towers into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Metro Global Media and Vantage Towers AG, you can compare the effects of market volatilities on Metro Global and Vantage Towers 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 Metro Global with a short position of Vantage Towers. Check out your portfolio center. Please also check ongoing floating volatility patterns of Metro Global and Vantage Towers.
Diversification Opportunities for Metro Global and Vantage Towers
-0.52 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Metro and Vantage is -0.52. Overlapping area represents the amount of risk that can be diversified away by holding Metro Global Media and Vantage Towers AG in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Vantage Towers AG and Metro Global 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 Metro Global Media are associated (or correlated) with Vantage Towers. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Vantage Towers AG has no effect on the direction of Metro Global i.e., Metro Global and Vantage Towers go up and down completely randomly.
Pair Corralation between Metro Global and Vantage Towers
Given the investment horizon of 90 days Metro Global Media is expected to under-perform the Vantage Towers. In addition to that, Metro Global is 21.67 times more volatile than Vantage Towers AG. It trades about -0.13 of its total potential returns per unit of risk. Vantage Towers AG is currently generating about 0.13 per unit of volatility. If you would invest 3,828 in Vantage Towers AG on August 29, 2025 and sell it today you would earn a total of 178.00 from holding Vantage Towers AG or generate 4.65% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 98.44% |
| Values | Daily Returns |
Metro Global Media vs. Vantage Towers AG
Performance |
| Timeline |
| Metro Global Media |
| Vantage Towers AG |
Metro Global and Vantage Towers Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Metro Global and Vantage Towers
The main advantage of trading using opposite Metro Global and Vantage Towers positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Metro Global position performs unexpectedly, Vantage Towers 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 Vantage Towers will offset losses from the drop in Vantage Towers' long position.| Metro Global vs. Astro Communications | Metro Global vs. Singapore Telecommunications Limited | Metro Global vs. Alibaba Health Information | Metro Global vs. Telephone and Data |
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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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