Correlation Between Acco Brands and SOCGEN
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By analyzing existing cross correlation between Acco Brands and SOCGEN 425 14 APR 25, you can compare the effects of market volatilities on Acco Brands and SOCGEN 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 Acco Brands with a short position of SOCGEN. Check out your portfolio center. Please also check ongoing floating volatility patterns of Acco Brands and SOCGEN.
Diversification Opportunities for Acco Brands and SOCGEN
0.46 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Acco and SOCGEN is 0.46. Overlapping area represents the amount of risk that can be diversified away by holding Acco Brands and SOCGEN 425 14 APR 25 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SOCGEN 425 14 and Acco Brands 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 Acco Brands are associated (or correlated) with SOCGEN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SOCGEN 425 14 has no effect on the direction of Acco Brands i.e., Acco Brands and SOCGEN go up and down completely randomly.
Pair Corralation between Acco Brands and SOCGEN
Given the investment horizon of 90 days Acco Brands is expected to generate 5.6 times more return on investment than SOCGEN. However, Acco Brands is 5.6 times more volatile than SOCGEN 425 14 APR 25. It trades about 0.03 of its potential returns per unit of risk. SOCGEN 425 14 APR 25 is currently generating about -0.01 per unit of risk. If you would invest 495.00 in Acco Brands on September 12, 2024 and sell it today you would earn a total of 124.00 from holding Acco Brands or generate 25.05% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 37.37% |
| Values | Daily Returns |
Acco Brands vs. SOCGEN 425 14 APR 25
Performance |
| Timeline |
| Acco Brands |
| SOCGEN 425 14 |
Acco Brands and SOCGEN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Acco Brands and SOCGEN
The main advantage of trading using opposite Acco Brands and SOCGEN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Acco Brands position performs unexpectedly, SOCGEN 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 SOCGEN will offset losses from the drop in SOCGEN's long position.| Acco Brands vs. HNI Corp | Acco Brands vs. Steelcase | Acco Brands vs. Ennis Inc | Acco Brands vs. Acacia Research |
| SOCGEN vs. Ihuman Inc | SOCGEN vs. Acco Brands | SOCGEN vs. Delek Logistics Partners | SOCGEN vs. Universal Technical Institute |
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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
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