Correlation Between Atos Origin and Castellum
Can any of the company-specific risk be diversified away by investing in both Atos Origin and Castellum 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 Castellum 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 Castellum, you can compare the effects of market volatilities on Atos Origin and Castellum 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 Castellum. Check out your portfolio center. Please also check ongoing floating volatility patterns of Atos Origin and Castellum.
Diversification Opportunities for Atos Origin and Castellum
0.08 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Atos and Castellum is 0.08. Overlapping area represents the amount of risk that can be diversified away by holding Atos Origin SA and Castellum in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Castellum 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 Castellum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Castellum has no effect on the direction of Atos Origin i.e., Atos Origin and Castellum go up and down completely randomly.
Pair Corralation between Atos Origin and Castellum
Assuming the 90 days horizon Atos Origin SA is expected to generate 0.86 times more return on investment than Castellum. However, Atos Origin SA is 1.17 times less risky than Castellum. It trades about 0.19 of its potential returns per unit of risk. Castellum is currently generating about 0.03 per unit of risk. If you would invest 13.00 in Atos Origin SA on August 28, 2024 and sell it today you would earn a total of 3.00 from holding Atos Origin SA or generate 23.08% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Atos Origin SA vs. Castellum
Performance |
| Timeline |
| Atos Origin SA |
| Castellum |
Atos Origin and Castellum Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Atos Origin and Castellum
The main advantage of trading using opposite Atos Origin and Castellum positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Atos Origin position performs unexpectedly, Castellum 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 Castellum will offset losses from the drop in Castellum's long position.| Atos Origin vs. Two Hands Corp | Atos Origin vs. Visium Technologies | Atos Origin vs. Tautachrome | Atos Origin vs. V Group |
| Castellum vs. Flint Telecom Group | Castellum vs. Datametrex AI Limited | Castellum vs. TTEC Holdings | Castellum vs. Digatrade Financial Corp |
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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
Other Complementary Tools
| Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges | |
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets |