Correlation Between AMBRA SA and Burlington Stores
Can any of the company-specific risk be diversified away by investing in both AMBRA SA and Burlington Stores 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 AMBRA SA and Burlington Stores into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between AMBRA SA A and Burlington Stores, you can compare the effects of market volatilities on AMBRA SA and Burlington Stores 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 AMBRA SA with a short position of Burlington Stores. Check out your portfolio center. Please also check ongoing floating volatility patterns of AMBRA SA and Burlington Stores.
Diversification Opportunities for AMBRA SA and Burlington Stores
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between AMBRA and Burlington is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding AMBRA SA A and Burlington Stores in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Burlington Stores and AMBRA SA 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 AMBRA SA A are associated (or correlated) with Burlington Stores. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Burlington Stores has no effect on the direction of AMBRA SA i.e., AMBRA SA and Burlington Stores go up and down completely randomly.
Pair Corralation between AMBRA SA and Burlington Stores
If you would invest (100.00) in AMBRA SA A on November 8, 2024 and sell it today you would earn a total of 100.00 from holding AMBRA SA A or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
AMBRA SA A vs. Burlington Stores
Performance |
| Timeline |
| AMBRA SA A |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Burlington Stores |
AMBRA SA and Burlington Stores Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AMBRA SA and Burlington Stores
The main advantage of trading using opposite AMBRA SA and Burlington Stores positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AMBRA SA position performs unexpectedly, Burlington Stores 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 Burlington Stores will offset losses from the drop in Burlington Stores' long position.| AMBRA SA vs. Chuangs China Investments | AMBRA SA vs. Canadian Utilities Limited | AMBRA SA vs. MidCap Financial Investment | AMBRA SA vs. VARIOUS EATERIES LS |
| Burlington Stores vs. SLR Investment Corp | Burlington Stores vs. PennyMac Mortgage Investment | Burlington Stores vs. Acadia Healthcare | Burlington Stores vs. Major Drilling Group |
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 Portfolio Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
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