Correlation Between SENKO GROUP and SUPER GROUP
Can any of the company-specific risk be diversified away by investing in both SENKO GROUP and SUPER GROUP 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 SENKO GROUP and SUPER GROUP into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between SENKO GROUP HOLDINGS and SUPER GROUP LTD, you can compare the effects of market volatilities on SENKO GROUP and SUPER GROUP 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 SENKO GROUP with a short position of SUPER GROUP. Check out your portfolio center. Please also check ongoing floating volatility patterns of SENKO GROUP and SUPER GROUP.
Diversification Opportunities for SENKO GROUP and SUPER GROUP
0.17 | Correlation Coefficient |
Average diversification
The 3 months correlation between SENKO and SUPER is 0.17. Overlapping area represents the amount of risk that can be diversified away by holding SENKO GROUP HOLDINGS and SUPER GROUP LTD in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SUPER GROUP LTD and SENKO GROUP 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 SENKO GROUP HOLDINGS are associated (or correlated) with SUPER GROUP. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SUPER GROUP LTD has no effect on the direction of SENKO GROUP i.e., SENKO GROUP and SUPER GROUP go up and down completely randomly.
Pair Corralation between SENKO GROUP and SUPER GROUP
Assuming the 90 days horizon SENKO GROUP HOLDINGS is expected to generate 0.71 times more return on investment than SUPER GROUP. However, SENKO GROUP HOLDINGS is 1.41 times less risky than SUPER GROUP. It trades about 0.02 of its potential returns per unit of risk. SUPER GROUP LTD is currently generating about -0.16 per unit of risk. If you would invest 880.00 in SENKO GROUP HOLDINGS on November 18, 2024 and sell it today you would earn a total of 5.00 from holding SENKO GROUP HOLDINGS or generate 0.57% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
SENKO GROUP HOLDINGS vs. SUPER GROUP LTD
Performance |
| Timeline |
| SENKO GROUP HOLDINGS |
| SUPER GROUP LTD |
SENKO GROUP and SUPER GROUP Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SENKO GROUP and SUPER GROUP
The main advantage of trading using opposite SENKO GROUP and SUPER GROUP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SENKO GROUP position performs unexpectedly, SUPER GROUP 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 SUPER GROUP will offset losses from the drop in SUPER GROUP's long position.| SENKO GROUP vs. Kuehne Nagel International | SENKO GROUP vs. ZTO EXPRESS | SENKO GROUP vs. NIKKON HOLDINGS TD | SENKO GROUP vs. NTG Nordic Transport |
| SUPER GROUP vs. Kuehne Nagel International | SUPER GROUP vs. ZTO EXPRESS | SUPER GROUP vs. NIKKON HOLDINGS TD | SUPER GROUP vs. SENKO GROUP HOLDINGS |
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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
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