Correlation Between Delfingen and SA Catana
Can any of the company-specific risk be diversified away by investing in both Delfingen and SA Catana 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 Delfingen and SA Catana into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Delfingen and SA Catana Group, you can compare the effects of market volatilities on Delfingen and SA Catana 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 Delfingen with a short position of SA Catana. Check out your portfolio center. Please also check ongoing floating volatility patterns of Delfingen and SA Catana.
Diversification Opportunities for Delfingen and SA Catana
Very weak diversification
The 3 months correlation between Delfingen and CATG is 0.52. Overlapping area represents the amount of risk that can be diversified away by holding Delfingen and SA Catana Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SA Catana Group and Delfingen 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 Delfingen are associated (or correlated) with SA Catana. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SA Catana Group has no effect on the direction of Delfingen i.e., Delfingen and SA Catana go up and down completely randomly.
Pair Corralation between Delfingen and SA Catana
Assuming the 90 days trading horizon Delfingen is expected to under-perform the SA Catana. In addition to that, Delfingen is 1.14 times more volatile than SA Catana Group. It trades about -0.22 of its total potential returns per unit of risk. SA Catana Group is currently generating about -0.03 per unit of volatility. If you would invest 552.00 in SA Catana Group on August 29, 2024 and sell it today you would lose (100.00) from holding SA Catana Group or give up 18.12% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Delfingen vs. SA Catana Group
Performance |
| Timeline |
| Delfingen |
| SA Catana Group |
Delfingen and SA Catana Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Delfingen and SA Catana
The main advantage of trading using opposite Delfingen and SA Catana positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Delfingen position performs unexpectedly, SA Catana 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 SA Catana will offset losses from the drop in SA Catana's long position.| Delfingen vs. Akwel SA | Delfingen vs. Groupe Guillin SA | Delfingen vs. Burelle SA | Delfingen vs. SA Catana Group |
| SA Catana vs. Affluent Medical SAS | SA Catana vs. Gaztransport Technigaz SAS | SA Catana vs. Onlineformapro SA | SA Catana vs. Broadpeak 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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
Other Complementary Tools
| Analyst Advice Analyst recommendations and target price estimates broken down by several categories | |
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
| Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios | |
| Positions Ratings Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance |