EGX Stock Correlation Matrix, Diversification & Hedging Tool
The correlation matrix shows how each EGX stock moves relative to every other, computed on real historical data. Useful for any investor wanting to verify they're actually diversified, not just concentrated in correlated trades. The tool computes Pearson correlation on daily returns across 30/90/180-day windows and renders results as a color-coded matrix: red = high correlation (stocks move together), blue = inverse correlation (one hedges the other). Coverage: EGX30 + EGX70, stocks with enough liquidity for reliable math.
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What you get
Interactive matrix
Every stock × every stock, hover any cell to see the correlation value and pair.
Sector filters
Isolate correlations within banking, real estate, or industrials, not everything mixed with everything.
Hedging pair finder
Surfaces stocks with negative correlation so you can use them as hedges.
Diversification suggestions
Own a stock? The model suggests low-correlation names to add for true diversification.
Adjustable window
30 / 90 / 180 days, pick based on your strategy horizon.
Export results
CSV of all pairs, analyze in Excel or Python if you prefer.
Get started
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Frequently asked
What is a correlation matrix?
A table showing how each stock moves relative to others. Values range from -1 to +1: near +1 = stocks move together, near -1 = they move opposite, near 0 = no relationship.
How do I use this for diversification?
If you own a stock and want to add another, look for one with low correlation (near 0 or negative) to your existing holdings. That way when one drops, the other doesn't drop as hard.
Does correlation change over time?
Yes. During crises, most stocks become MORE correlated, "everything falls together", which is why diversification often fails when you need it most. The model shows 30/90/180-day windows so you can see the trend.
Does it cover all EGX stocks?
We cover EGX30 + EGX70 (~100 stocks) because those have enough liquidity for reliable correlation. Illiquid small-caps create noise in the math.