Correlation Between Zedcor Energy and STRAITS TRADG
Can any of the company-specific risk be diversified away by investing in both Zedcor Energy and STRAITS TRADG 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 Zedcor Energy and STRAITS TRADG into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Zedcor Energy and STRAITS TRADG SD, you can compare the effects of market volatilities on Zedcor Energy and STRAITS TRADG 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 Zedcor Energy with a short position of STRAITS TRADG. Check out your portfolio center. Please also check ongoing floating volatility patterns of Zedcor Energy and STRAITS TRADG.
Diversification Opportunities for Zedcor Energy and STRAITS TRADG
0.4 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Zedcor and STRAITS is 0.4. Overlapping area represents the amount of risk that can be diversified away by holding Zedcor Energy and STRAITS TRADG SD in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on STRAITS TRADG SD and Zedcor Energy 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 Zedcor Energy are associated (or correlated) with STRAITS TRADG. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of STRAITS TRADG SD has no effect on the direction of Zedcor Energy i.e., Zedcor Energy and STRAITS TRADG go up and down completely randomly.
Pair Corralation between Zedcor Energy and STRAITS TRADG
Assuming the 90 days horizon Zedcor Energy is expected to generate 2.61 times more return on investment than STRAITS TRADG. However, Zedcor Energy is 2.61 times more volatile than STRAITS TRADG SD. It trades about 0.18 of its potential returns per unit of risk. STRAITS TRADG SD is currently generating about 0.05 per unit of risk. If you would invest 441.00 in Zedcor Energy on August 28, 2025 and sell it today you would earn a total of 160.00 from holding Zedcor Energy or generate 36.28% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 96.92% |
| Values | Daily Returns |
Zedcor Energy vs. STRAITS TRADG SD
Performance |
| Timeline |
| Zedcor Energy |
| STRAITS TRADG SD |
Zedcor Energy and STRAITS TRADG Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Zedcor Energy and STRAITS TRADG
The main advantage of trading using opposite Zedcor Energy and STRAITS TRADG positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Zedcor Energy position performs unexpectedly, STRAITS TRADG 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 STRAITS TRADG will offset losses from the drop in STRAITS TRADG's long position.| Zedcor Energy vs. Sangoma Technologies Corp | Zedcor Energy vs. Evertz Technologies Limited | Zedcor Energy vs. Kure Technologies | Zedcor Energy vs. Carrier Connect Data |
| STRAITS TRADG vs. TSOGO SUN GAMING | STRAITS TRADG vs. COPLAND ROAD CAPITAL | STRAITS TRADG vs. 5TH PLANET GAMES | STRAITS TRADG vs. BRAGG GAMING GRP |
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 Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
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