Correlation Between Pullup Entertainment and SA Catana
Can any of the company-specific risk be diversified away by investing in both Pullup Entertainment 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 Pullup Entertainment and SA Catana into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Pullup Entertainment Socit and SA Catana Group, you can compare the effects of market volatilities on Pullup Entertainment 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 Pullup Entertainment with a short position of SA Catana. Check out your portfolio center. Please also check ongoing floating volatility patterns of Pullup Entertainment and SA Catana.
Diversification Opportunities for Pullup Entertainment and SA Catana
-0.14 | Correlation Coefficient |
Good diversification
The 3 months correlation between Pullup and CATG is -0.14. Overlapping area represents the amount of risk that can be diversified away by holding Pullup Entertainment Socit 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 Pullup Entertainment 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 Pullup Entertainment Socit 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 Pullup Entertainment i.e., Pullup Entertainment and SA Catana go up and down completely randomly.
Pair Corralation between Pullup Entertainment and SA Catana
Assuming the 90 days trading horizon Pullup Entertainment Socit is expected to generate 1.6 times more return on investment than SA Catana. However, Pullup Entertainment is 1.6 times more volatile than SA Catana Group. It trades about 0.05 of its potential returns per unit of risk. SA Catana Group is currently generating about -0.05 per unit of risk. If you would invest 1,812 in Pullup Entertainment Socit on September 21, 2024 and sell it today you would earn a total of 58.00 from holding Pullup Entertainment Socit or generate 3.2% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Pullup Entertainment Socit vs. SA Catana Group
Performance |
| Timeline |
| Pullup Entertainment |
| SA Catana Group |
Pullup Entertainment and SA Catana Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Pullup Entertainment and SA Catana
The main advantage of trading using opposite Pullup Entertainment and SA Catana positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Pullup Entertainment 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.| Pullup Entertainment vs. LVMH Mot Hennessy | Pullup Entertainment vs. LOreal SA | Pullup Entertainment vs. Hermes International SCA | Pullup Entertainment vs. Manitou BF SA |
| SA Catana vs. CMG Cleantech SA | SA Catana vs. Pullup Entertainment Socit | SA Catana vs. Lexibook Linguistic Electronic | SA Catana vs. Innelec Multimedia |
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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
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