Correlation Between AEGEAN AIRLINES and KTL GLOBAL
Can any of the company-specific risk be diversified away by investing in both AEGEAN AIRLINES and KTL GLOBAL 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 AEGEAN AIRLINES and KTL GLOBAL into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between AEGEAN AIRLINES and KTL GLOBAL, you can compare the effects of market volatilities on AEGEAN AIRLINES and KTL GLOBAL 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 AEGEAN AIRLINES with a short position of KTL GLOBAL. Check out your portfolio center. Please also check ongoing floating volatility patterns of AEGEAN AIRLINES and KTL GLOBAL.
Diversification Opportunities for AEGEAN AIRLINES and KTL GLOBAL
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between AEGEAN and KTL is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding AEGEAN AIRLINES and KTL GLOBAL in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KTL GLOBAL and AEGEAN AIRLINES 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 AEGEAN AIRLINES are associated (or correlated) with KTL GLOBAL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KTL GLOBAL has no effect on the direction of AEGEAN AIRLINES i.e., AEGEAN AIRLINES and KTL GLOBAL go up and down completely randomly.
Pair Corralation between AEGEAN AIRLINES and KTL GLOBAL
If you would invest 5.52 in KTL GLOBAL on September 12, 2024 and sell it today you would earn a total of 0.00 from holding KTL GLOBAL or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 99.6% |
| Values | Daily Returns |
AEGEAN AIRLINES vs. KTL GLOBAL
Performance |
| Timeline |
| AEGEAN AIRLINES |
| KTL GLOBAL |
AEGEAN AIRLINES and KTL GLOBAL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AEGEAN AIRLINES and KTL GLOBAL
The main advantage of trading using opposite AEGEAN AIRLINES and KTL GLOBAL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AEGEAN AIRLINES position performs unexpectedly, KTL GLOBAL 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 KTL GLOBAL will offset losses from the drop in KTL GLOBAL's long position.| AEGEAN AIRLINES vs. Apple Inc | AEGEAN AIRLINES vs. Apple Inc | AEGEAN AIRLINES vs. Apple Inc | AEGEAN AIRLINES vs. Apple Inc |
| KTL GLOBAL vs. International Consolidated Airlines | KTL GLOBAL vs. CHINA TONTINE WINES | KTL GLOBAL vs. AEGEAN AIRLINES | KTL GLOBAL vs. Corporate Office Properties |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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