Correlation Between Aegean Airlines and Trastor Real
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By analyzing existing cross correlation between Aegean Airlines SA and Trastor Real Estate, you can compare the effects of market volatilities on Aegean Airlines and Trastor Real 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 Trastor Real. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aegean Airlines and Trastor Real.
Diversification Opportunities for Aegean Airlines and Trastor Real
0.65 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Aegean and Trastor is 0.65. Overlapping area represents the amount of risk that can be diversified away by holding Aegean Airlines SA and Trastor Real Estate in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Trastor Real Estate 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 SA are associated (or correlated) with Trastor Real. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Trastor Real Estate has no effect on the direction of Aegean Airlines i.e., Aegean Airlines and Trastor Real go up and down completely randomly.
Pair Corralation between Aegean Airlines and Trastor Real
Assuming the 90 days trading horizon Aegean Airlines is expected to generate 6.86 times less return on investment than Trastor Real. But when comparing it to its historical volatility, Aegean Airlines SA is 1.53 times less risky than Trastor Real. It trades about 0.0 of its potential returns per unit of risk. Trastor Real Estate is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest 103.00 in Trastor Real Estate on August 31, 2024 and sell it today you would earn a total of 3.00 from holding Trastor Real Estate or generate 2.91% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 99.73% |
| Values | Daily Returns |
Aegean Airlines SA vs. Trastor Real Estate
Performance |
| Timeline |
| Aegean Airlines SA |
| Trastor Real Estate |
Aegean Airlines and Trastor Real Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Aegean Airlines and Trastor Real
The main advantage of trading using opposite Aegean Airlines and Trastor Real positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aegean Airlines position performs unexpectedly, Trastor Real 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 Trastor Real will offset losses from the drop in Trastor Real's long position.| Aegean Airlines vs. Mytilineos SA | Aegean Airlines vs. Greek Organization of | Aegean Airlines vs. Motor Oil Corinth | Aegean Airlines vs. Alpha Services and |
| Trastor Real vs. Athens Medical CSA | Trastor Real vs. As Commercial Industrial | Trastor Real vs. Profile Systems Software | Trastor Real vs. Marfin Investment 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 Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
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