Correlation Between Clasquin and Groupe Guillin
Can any of the company-specific risk be diversified away by investing in both Clasquin and Groupe Guillin 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 Clasquin and Groupe Guillin into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Clasquin and Groupe Guillin SA, you can compare the effects of market volatilities on Clasquin and Groupe Guillin 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 Clasquin with a short position of Groupe Guillin. Check out your portfolio center. Please also check ongoing floating volatility patterns of Clasquin and Groupe Guillin.
Diversification Opportunities for Clasquin and Groupe Guillin
-0.72 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Clasquin and Groupe is -0.72. Overlapping area represents the amount of risk that can be diversified away by holding Clasquin and Groupe Guillin SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Groupe Guillin SA and Clasquin 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 Clasquin are associated (or correlated) with Groupe Guillin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Groupe Guillin SA has no effect on the direction of Clasquin i.e., Clasquin and Groupe Guillin go up and down completely randomly.
Pair Corralation between Clasquin and Groupe Guillin
Assuming the 90 days trading horizon Clasquin is expected to generate 1.35 times more return on investment than Groupe Guillin. However, Clasquin is 1.35 times more volatile than Groupe Guillin SA. It trades about 0.09 of its potential returns per unit of risk. Groupe Guillin SA is currently generating about 0.05 per unit of risk. If you would invest 5,253 in Clasquin on August 25, 2024 and sell it today you would earn a total of 8,892 from holding Clasquin or generate 169.27% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Clasquin vs. Groupe Guillin SA
Performance |
| Timeline |
| Clasquin |
| Groupe Guillin SA |
Clasquin and Groupe Guillin Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Clasquin and Groupe Guillin
The main advantage of trading using opposite Clasquin and Groupe Guillin positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Clasquin position performs unexpectedly, Groupe Guillin 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 Groupe Guillin will offset losses from the drop in Groupe Guillin's long position.| Clasquin vs. Prodways Group SA | Clasquin vs. Claranova SE | Clasquin vs. DBV Technologies SA | Clasquin vs. Manitou BF SA |
| Groupe Guillin vs. Neurones | Groupe Guillin vs. Aubay Socit Anonyme | Groupe Guillin vs. Infotel SA | Groupe Guillin vs. Manitou BF 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 Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.
Other Complementary Tools
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios | |
| Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets | |
| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities | |
| Equity Valuation Check real value of public entities based on technical and fundamental data |