Correlation Between Dubber and Swvl Holdings
Can any of the company-specific risk be diversified away by investing in both Dubber and Swvl Holdings 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 Dubber and Swvl Holdings into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Dubber Limited and Swvl Holdings Corp, you can compare the effects of market volatilities on Dubber and Swvl Holdings 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 Dubber with a short position of Swvl Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dubber and Swvl Holdings.
Diversification Opportunities for Dubber and Swvl Holdings
0.13 | Correlation Coefficient |
Average diversification
The 3 months correlation between Dubber and Swvl is 0.13. Overlapping area represents the amount of risk that can be diversified away by holding Dubber Limited and Swvl Holdings Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Swvl Holdings Corp and Dubber 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 Dubber Limited are associated (or correlated) with Swvl Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Swvl Holdings Corp has no effect on the direction of Dubber i.e., Dubber and Swvl Holdings go up and down completely randomly.
Pair Corralation between Dubber and Swvl Holdings
Assuming the 90 days horizon Dubber Limited is expected to generate 18.02 times more return on investment than Swvl Holdings. However, Dubber is 18.02 times more volatile than Swvl Holdings Corp. It trades about 0.12 of its potential returns per unit of risk. Swvl Holdings Corp is currently generating about 0.22 per unit of risk. If you would invest 1.94 in Dubber Limited on September 27, 2024 and sell it today you would earn a total of 0.56 from holding Dubber Limited or generate 28.87% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Insignificant |
Accuracy | 98.44% |
Values | Daily Returns |
Dubber Limited vs. Swvl Holdings Corp
Performance |
Timeline |
Dubber Limited |
Swvl Holdings Corp |
Dubber and Swvl Holdings Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Dubber and Swvl Holdings
The main advantage of trading using opposite Dubber and Swvl Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dubber position performs unexpectedly, Swvl Holdings 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 Swvl Holdings will offset losses from the drop in Swvl Holdings' long position.Dubber vs. NextPlat Corp | Dubber vs. Liquid Avatar Technologies | Dubber vs. Waldencast Acquisition Corp | Dubber vs. CXApp Inc |
Swvl Holdings vs. Dubber Limited | Swvl Holdings vs. Advanced Health Intelligence | Swvl Holdings vs. Danavation Technologies Corp | Swvl Holdings vs. BASE Inc |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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