Correlation Between Atos Origin and Atos SE
Can any of the company-specific risk be diversified away by investing in both Atos Origin and Atos SE 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 Atos Origin and Atos SE into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Atos Origin SA and Atos SE, you can compare the effects of market volatilities on Atos Origin and Atos SE 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 Atos Origin with a short position of Atos SE. Check out your portfolio center. Please also check ongoing floating volatility patterns of Atos Origin and Atos SE.
Diversification Opportunities for Atos Origin and Atos SE
0.6 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Atos and Atos is 0.6. Overlapping area represents the amount of risk that can be diversified away by holding Atos Origin SA and Atos SE in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Atos SE and Atos Origin 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 Atos Origin SA are associated (or correlated) with Atos SE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Atos SE has no effect on the direction of Atos Origin i.e., Atos Origin and Atos SE go up and down completely randomly.
Pair Corralation between Atos Origin and Atos SE
Assuming the 90 days horizon Atos Origin SA is expected to under-perform the Atos SE. But the pink sheet apears to be less risky and, when comparing its historical volatility, Atos Origin SA is 10.43 times less risky than Atos SE. The pink sheet trades about -0.15 of its potential returns per unit of risk. The Atos SE is currently generating about 0.21 of returns per unit of risk over similar time horizon. If you would invest 72.00 in Atos SE on October 25, 2024 and sell it today you would lose (71.78) from holding Atos SE or give up 99.69% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Atos Origin SA vs. Atos SE
Performance |
| Timeline |
| Atos Origin SA |
| Atos SE |
Atos Origin and Atos SE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Atos Origin and Atos SE
The main advantage of trading using opposite Atos Origin and Atos SE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Atos Origin position performs unexpectedly, Atos SE 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 Atos SE will offset losses from the drop in Atos SE's long position.| Atos Origin vs. Appen Limited | Atos Origin vs. Aurora Innovation | Atos Origin vs. Atos SE | Atos Origin vs. Deveron Corp |
| Atos SE vs. Deveron Corp | Atos SE vs. Appen Limited | Atos SE vs. Atos Origin SA | Atos SE vs. Appen Limited |
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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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