Correlation Between EPSILON HEALTHCARE and Bet At
Can any of the company-specific risk be diversified away by investing in both EPSILON HEALTHCARE and Bet At 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 EPSILON HEALTHCARE and Bet At into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between EPSILON HEALTHCARE LTD and bet at home AG, you can compare the effects of market volatilities on EPSILON HEALTHCARE and Bet At 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 EPSILON HEALTHCARE with a short position of Bet At. Check out your portfolio center. Please also check ongoing floating volatility patterns of EPSILON HEALTHCARE and Bet At.
Diversification Opportunities for EPSILON HEALTHCARE and Bet At
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between EPSILON and Bet is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding EPSILON HEALTHCARE LTD and bet at home AG in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on bet at home and EPSILON HEALTHCARE 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 EPSILON HEALTHCARE LTD are associated (or correlated) with Bet At. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of bet at home has no effect on the direction of EPSILON HEALTHCARE i.e., EPSILON HEALTHCARE and Bet At go up and down completely randomly.
Pair Corralation between EPSILON HEALTHCARE and Bet At
If you would invest 243.00 in bet at home AG on November 7, 2024 and sell it today you would earn a total of 10.00 from holding bet at home AG or generate 4.12% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 99.52% |
| Values | Daily Returns |
EPSILON HEALTHCARE LTD vs. bet at home AG
Performance |
| Timeline |
| EPSILON HEALTHCARE LTD |
| bet at home |
EPSILON HEALTHCARE and Bet At Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with EPSILON HEALTHCARE and Bet At
The main advantage of trading using opposite EPSILON HEALTHCARE and Bet At positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if EPSILON HEALTHCARE position performs unexpectedly, Bet At 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 Bet At will offset losses from the drop in Bet At's long position.| EPSILON HEALTHCARE vs. G III Apparel Group | EPSILON HEALTHCARE vs. PT Steel Pipe | EPSILON HEALTHCARE vs. G III APPAREL GROUP | EPSILON HEALTHCARE vs. Mount Gibson Iron |
| Bet At vs. Thai Beverage Public | Bet At vs. TRADEDOUBLER AB SK | Bet At vs. Moneysupermarket Group PLC | Bet At vs. Retail Estates NV |
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 Pair Correlation module to compare performance and examine fundamental relationship between any two equity instruments.
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