Correlation Between Atos Origin and AgileThought
Can any of the company-specific risk be diversified away by investing in both Atos Origin and AgileThought 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 AgileThought 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 AgileThought, you can compare the effects of market volatilities on Atos Origin and AgileThought 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 AgileThought. Check out your portfolio center. Please also check ongoing floating volatility patterns of Atos Origin and AgileThought.
Diversification Opportunities for Atos Origin and AgileThought
0.42 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Atos and AgileThought is 0.42. Overlapping area represents the amount of risk that can be diversified away by holding Atos Origin SA and AgileThought in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AgileThought 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 AgileThought. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AgileThought has no effect on the direction of Atos Origin i.e., Atos Origin and AgileThought go up and down completely randomly.
Pair Corralation between Atos Origin and AgileThought
If you would invest 7.00 in AgileThought on October 25, 2024 and sell it today you would earn a total of 0.00 from holding AgileThought or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 1.69% |
| Values | Daily Returns |
Atos Origin SA vs. AgileThought
Performance |
| Timeline |
| Atos Origin SA |
| AgileThought |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Atos Origin and AgileThought Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Atos Origin and AgileThought
The main advantage of trading using opposite Atos Origin and AgileThought positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Atos Origin position performs unexpectedly, AgileThought 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 AgileThought will offset losses from the drop in AgileThought's long position.| Atos Origin vs. Appen Limited | Atos Origin vs. Aurora Innovation | Atos Origin vs. Atos SE | Atos Origin vs. Deveron Corp |
| AgileThought vs. Katapult Holdings Equity | AgileThought vs. Arqit Quantum Warrants | AgileThought vs. AvePoint |
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 Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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