Correlation Between Acticor Biotech and Maat Pharma
Can any of the company-specific risk be diversified away by investing in both Acticor Biotech and Maat Pharma 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 Acticor Biotech and Maat Pharma into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Acticor Biotech SAS and Maat Pharma SA, you can compare the effects of market volatilities on Acticor Biotech and Maat Pharma 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 Acticor Biotech with a short position of Maat Pharma. Check out your portfolio center. Please also check ongoing floating volatility patterns of Acticor Biotech and Maat Pharma.
Diversification Opportunities for Acticor Biotech and Maat Pharma
-0.5 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Acticor and Maat is -0.5. Overlapping area represents the amount of risk that can be diversified away by holding Acticor Biotech SAS and Maat Pharma SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Maat Pharma SA and Acticor Biotech 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 Acticor Biotech SAS are associated (or correlated) with Maat Pharma. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Maat Pharma SA has no effect on the direction of Acticor Biotech i.e., Acticor Biotech and Maat Pharma go up and down completely randomly.
Pair Corralation between Acticor Biotech and Maat Pharma
Assuming the 90 days trading horizon Acticor Biotech SAS is expected to under-perform the Maat Pharma. In addition to that, Acticor Biotech is 3.16 times more volatile than Maat Pharma SA. It trades about -0.01 of its total potential returns per unit of risk. Maat Pharma SA is currently generating about 0.01 per unit of volatility. If you would invest 870.00 in Maat Pharma SA on November 2, 2024 and sell it today you would lose (76.00) from holding Maat Pharma SA or give up 8.74% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 99.8% |
| Values | Daily Returns |
Acticor Biotech SAS vs. Maat Pharma SA
Performance |
| Timeline |
| Acticor Biotech SAS |
| Maat Pharma SA |
Acticor Biotech and Maat Pharma Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Acticor Biotech and Maat Pharma
The main advantage of trading using opposite Acticor Biotech and Maat Pharma positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Acticor Biotech position performs unexpectedly, Maat Pharma 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 Maat Pharma will offset losses from the drop in Maat Pharma's long position.| Acticor Biotech vs. Lexibook Linguistic Electronic | Acticor Biotech vs. Eutelsat Communications SA | Acticor Biotech vs. X Fab Silicon | Acticor Biotech vs. Metalliance SA |
| Maat Pharma vs. OSE Pharma SA | Maat Pharma vs. Abivax SA | Maat Pharma vs. Acticor Biotech SAS | Maat Pharma vs. Waga Energy SA |
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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
Other Complementary Tools
| Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges | |
| Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets |