Correlation Between AgileThought and Atos SE
Can any of the company-specific risk be diversified away by investing in both AgileThought 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 AgileThought and Atos SE into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between AgileThought and Atos SE, you can compare the effects of market volatilities on AgileThought 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 AgileThought with a short position of Atos SE. Check out your portfolio center. Please also check ongoing floating volatility patterns of AgileThought and Atos SE.
Diversification Opportunities for AgileThought and Atos SE
0.65 | Correlation Coefficient |
Poor diversification
The 3 months correlation between AgileThought and Atos is 0.65. Overlapping area represents the amount of risk that can be diversified away by holding AgileThought and Atos SE in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Atos SE and AgileThought 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 AgileThought 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 AgileThought i.e., AgileThought and Atos SE go up and down completely randomly.
Pair Corralation between AgileThought and Atos SE
If you would invest 0.29 in Atos SE on November 4, 2024 and sell it today you would lose (0.02) from holding Atos SE or give up 6.9% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 5.0% |
| Values | Daily Returns |
AgileThought vs. Atos SE
Performance |
| Timeline |
| AgileThought |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Atos SE |
AgileThought and Atos SE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AgileThought and Atos SE
The main advantage of trading using opposite AgileThought and Atos SE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AgileThought 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.| AgileThought vs. Katapult Holdings Equity | AgileThought vs. Arqit Quantum Warrants | AgileThought vs. AvePoint |
| 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 Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
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