Correlation Between Aegean Airlines and Apogee Therapeutics,
Can any of the company-specific risk be diversified away by investing in both Aegean Airlines and Apogee Therapeutics, 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 Aegean Airlines and Apogee Therapeutics, into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Aegean Airlines SA and Apogee Therapeutics, Common, you can compare the effects of market volatilities on Aegean Airlines and Apogee Therapeutics, 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 Aegean Airlines with a short position of Apogee Therapeutics,. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aegean Airlines and Apogee Therapeutics,.
Diversification Opportunities for Aegean Airlines and Apogee Therapeutics,
0.09 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Aegean and Apogee is 0.09. Overlapping area represents the amount of risk that can be diversified away by holding Aegean Airlines SA and Apogee Therapeutics, Common in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Apogee Therapeutics, and Aegean Airlines 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 Aegean Airlines SA are associated (or correlated) with Apogee Therapeutics,. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Apogee Therapeutics, has no effect on the direction of Aegean Airlines i.e., Aegean Airlines and Apogee Therapeutics, go up and down completely randomly.
Pair Corralation between Aegean Airlines and Apogee Therapeutics,
Assuming the 90 days horizon Aegean Airlines SA is expected to generate 0.58 times more return on investment than Apogee Therapeutics,. However, Aegean Airlines SA is 1.72 times less risky than Apogee Therapeutics,. It trades about -0.22 of its potential returns per unit of risk. Apogee Therapeutics, Common is currently generating about -0.25 per unit of risk. If you would invest 1,213 in Aegean Airlines SA on August 28, 2024 and sell it today you would lose (128.00) from holding Aegean Airlines SA or give up 10.55% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Aegean Airlines SA vs. Apogee Therapeutics, Common
Performance |
| Timeline |
| Aegean Airlines SA |
| Apogee Therapeutics, |
Aegean Airlines and Apogee Therapeutics, Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Aegean Airlines and Apogee Therapeutics,
The main advantage of trading using opposite Aegean Airlines and Apogee Therapeutics, positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aegean Airlines position performs unexpectedly, Apogee Therapeutics, 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 Apogee Therapeutics, will offset losses from the drop in Apogee Therapeutics,'s long position.| Aegean Airlines vs. Copa Holdings SA | Aegean Airlines vs. United Airlines Holdings | Aegean Airlines vs. Delta Air Lines | Aegean Airlines vs. SkyWest |
| Apogee Therapeutics, vs. Bridgford Foods | Apogee Therapeutics, vs. Tyson Foods | Apogee Therapeutics, vs. Iridium Communications | Apogee Therapeutics, vs. Natural Alternatives International |
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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
Other Complementary Tools
| Content Syndication Quickly integrate customizable finance content to your own investment portal | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios | |
| Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. |