Correlation Between WEMA BANK and AFROMEDIA PLC
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By analyzing existing cross correlation between WEMA BANK PLC and AFROMEDIA PLC, you can compare the effects of market volatilities on WEMA BANK and AFROMEDIA PLC 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 WEMA BANK with a short position of AFROMEDIA PLC. Check out your portfolio center. Please also check ongoing floating volatility patterns of WEMA BANK and AFROMEDIA PLC.
Diversification Opportunities for WEMA BANK and AFROMEDIA PLC
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between WEMA and AFROMEDIA is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding WEMA BANK PLC and AFROMEDIA PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AFROMEDIA PLC and WEMA 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 WEMA BANK PLC are associated (or correlated) with AFROMEDIA PLC. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AFROMEDIA PLC has no effect on the direction of WEMA BANK i.e., WEMA BANK and AFROMEDIA PLC go up and down completely randomly.
Pair Corralation between WEMA BANK and AFROMEDIA PLC
If you would invest 1,335 in WEMA BANK PLC on June 3, 2025 and sell it today you would earn a total of 965.00 from holding WEMA BANK PLC or generate 72.28% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
WEMA BANK PLC vs. AFROMEDIA PLC
Performance |
| Timeline |
| WEMA BANK PLC |
| AFROMEDIA PLC |
WEMA BANK and AFROMEDIA PLC Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with WEMA BANK and AFROMEDIA PLC
The main advantage of trading using opposite WEMA BANK and AFROMEDIA PLC positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if WEMA BANK position performs unexpectedly, AFROMEDIA PLC 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 AFROMEDIA PLC will offset losses from the drop in AFROMEDIA PLC's long position.| WEMA BANK vs. AFRICAN ALLIANCE INSURANCE | WEMA BANK vs. FORTIS GLOBAL INSURANCE | WEMA BANK vs. UNION HOMES REAL | WEMA BANK vs. ECOBANK TRANSNATIONAL INCORPORATED |
| AFROMEDIA PLC vs. GUINEA INSURANCE PLC | AFROMEDIA PLC vs. ALUMINIUM EXTRUSION IND | AFROMEDIA PLC vs. SECURE ELECTRONIC TECHNOLOGY | AFROMEDIA PLC vs. SFS REAL ESTATE |
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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
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