Correlation Between AFP Capital and Sigdo Koppers
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By analyzing existing cross correlation between AFP Capital SA and Sigdo Koppers, you can compare the effects of market volatilities on AFP Capital and Sigdo Koppers 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 AFP Capital with a short position of Sigdo Koppers. Check out your portfolio center. Please also check ongoing floating volatility patterns of AFP Capital and Sigdo Koppers.
Diversification Opportunities for AFP Capital and Sigdo Koppers
-0.69 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between AFP and Sigdo is -0.69. Overlapping area represents the amount of risk that can be diversified away by holding AFP Capital SA and Sigdo Koppers in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sigdo Koppers and AFP Capital 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 AFP Capital SA are associated (or correlated) with Sigdo Koppers. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sigdo Koppers has no effect on the direction of AFP Capital i.e., AFP Capital and Sigdo Koppers go up and down completely randomly.
Pair Corralation between AFP Capital and Sigdo Koppers
Assuming the 90 days trading horizon AFP Capital SA is expected to generate 0.49 times more return on investment than Sigdo Koppers. However, AFP Capital SA is 2.03 times less risky than Sigdo Koppers. It trades about 0.2 of its potential returns per unit of risk. Sigdo Koppers is currently generating about -0.16 per unit of risk. If you would invest 24,558 in AFP Capital SA on September 1, 2024 and sell it today you would earn a total of 442.00 from holding AFP Capital SA or generate 1.8% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 22.22% |
| Values | Daily Returns |
AFP Capital SA vs. Sigdo Koppers
Performance |
| Timeline |
| AFP Capital SA |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Sigdo Koppers |
AFP Capital and Sigdo Koppers Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AFP Capital and Sigdo Koppers
The main advantage of trading using opposite AFP Capital and Sigdo Koppers positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AFP Capital position performs unexpectedly, Sigdo Koppers 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 Sigdo Koppers will offset losses from the drop in Sigdo Koppers' long position.| AFP Capital vs. Salfacorp | AFP Capital vs. Schwager | AFP Capital vs. HMC SA ADMINISTRADORA | AFP Capital vs. Multiexport Foods SA |
| Sigdo Koppers vs. Salfacorp | Sigdo Koppers vs. Enel Chile SA | Sigdo Koppers vs. Embotelladora Andina SA | Sigdo Koppers vs. Sociedad Matriz SAAM |
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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