Correlation Between Altur Slatina and GRUPUL INDUSTRIAL
Can any of the company-specific risk be diversified away by investing in both Altur Slatina and GRUPUL INDUSTRIAL 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 Altur Slatina and GRUPUL INDUSTRIAL into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Altur Slatina and GRUPUL INDUSTRIAL ELECTROCONTACT, you can compare the effects of market volatilities on Altur Slatina and GRUPUL INDUSTRIAL 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 Altur Slatina with a short position of GRUPUL INDUSTRIAL. Check out your portfolio center. Please also check ongoing floating volatility patterns of Altur Slatina and GRUPUL INDUSTRIAL.
Diversification Opportunities for Altur Slatina and GRUPUL INDUSTRIAL
-0.35 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Altur and GRUPUL is -0.35. Overlapping area represents the amount of risk that can be diversified away by holding Altur Slatina and GRUPUL INDUSTRIAL ELECTROCONTA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GRUPUL INDUSTRIAL and Altur Slatina 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 Altur Slatina are associated (or correlated) with GRUPUL INDUSTRIAL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GRUPUL INDUSTRIAL has no effect on the direction of Altur Slatina i.e., Altur Slatina and GRUPUL INDUSTRIAL go up and down completely randomly.
Pair Corralation between Altur Slatina and GRUPUL INDUSTRIAL
Assuming the 90 days trading horizon Altur Slatina is expected to under-perform the GRUPUL INDUSTRIAL. In addition to that, Altur Slatina is 6.6 times more volatile than GRUPUL INDUSTRIAL ELECTROCONTACT. It trades about -0.2 of its total potential returns per unit of risk. GRUPUL INDUSTRIAL ELECTROCONTACT is currently generating about 0.0 per unit of volatility. If you would invest 5.50 in GRUPUL INDUSTRIAL ELECTROCONTACT on January 12, 2025 and sell it today you would earn a total of 0.00 from holding GRUPUL INDUSTRIAL ELECTROCONTACT or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.65% |
| Values | Daily Returns |
Altur Slatina vs. GRUPUL INDUSTRIAL ELECTROCONTA
Performance |
| Timeline |
| Altur Slatina |
| GRUPUL INDUSTRIAL |
Altur Slatina and GRUPUL INDUSTRIAL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Altur Slatina and GRUPUL INDUSTRIAL
The main advantage of trading using opposite Altur Slatina and GRUPUL INDUSTRIAL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Altur Slatina position performs unexpectedly, GRUPUL INDUSTRIAL 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 GRUPUL INDUSTRIAL will offset losses from the drop in GRUPUL INDUSTRIAL's long position.| Altur Slatina vs. IHUNT TECHNOLOGY IMPORT EXPORT | Altur Slatina vs. TRANSILVANIA LEASING SI | Altur Slatina vs. TRANSILVANIA INVESTMENTS ALLIANCE | Altur Slatina vs. Digi Communications NV |
| GRUPUL INDUSTRIAL vs. Digi Communications NV | GRUPUL INDUSTRIAL vs. TRANSILVANIA LEASING SI | GRUPUL INDUSTRIAL vs. Safetech Innovations SA | GRUPUL INDUSTRIAL vs. Compania Hoteliera InterContinental |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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