Correlation Between Groupama Entreprises and Identiv
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By analyzing existing cross correlation between Groupama Entreprises N and Identiv, you can compare the effects of market volatilities on Groupama Entreprises and Identiv 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 Groupama Entreprises with a short position of Identiv. Check out your portfolio center. Please also check ongoing floating volatility patterns of Groupama Entreprises and Identiv.
Diversification Opportunities for Groupama Entreprises and Identiv
-0.72 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Groupama and Identiv is -0.72. Overlapping area represents the amount of risk that can be diversified away by holding Groupama Entreprises N and Identiv in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Identiv and Groupama Entreprises 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 Groupama Entreprises N are associated (or correlated) with Identiv. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Identiv has no effect on the direction of Groupama Entreprises i.e., Groupama Entreprises and Identiv go up and down completely randomly.
Pair Corralation between Groupama Entreprises and Identiv
Assuming the 90 days trading horizon Groupama Entreprises is expected to generate 63.23 times less return on investment than Identiv. But when comparing it to its historical volatility, Groupama Entreprises N is 391.43 times less risky than Identiv. It trades about 0.96 of its potential returns per unit of risk. Identiv is currently generating about 0.16 of returns per unit of risk over similar time horizon. If you would invest 332.00 in Identiv on December 1, 2024 and sell it today you would earn a total of 41.00 from holding Identiv or generate 12.35% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 95.45% |
| Values | Daily Returns |
Groupama Entreprises N vs. Identiv
Performance |
| Timeline |
| Groupama Entreprises |
| Identiv |
Groupama Entreprises and Identiv Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Groupama Entreprises and Identiv
The main advantage of trading using opposite Groupama Entreprises and Identiv positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Groupama Entreprises position performs unexpectedly, Identiv 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 Identiv will offset losses from the drop in Identiv's long position.| Groupama Entreprises vs. Esfera Robotics R | Groupama Entreprises vs. R co Valor F | Groupama Entreprises vs. CM AM Monplus NE | Groupama Entreprises vs. IE00B0H4TS55 |
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 Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
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