Correlation Between Vente Unique and Groupe Partouche
Can any of the company-specific risk be diversified away by investing in both Vente Unique and Groupe Partouche 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 Vente Unique and Groupe Partouche into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Vente Unique and Groupe Partouche SA, you can compare the effects of market volatilities on Vente Unique and Groupe Partouche 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 Vente Unique with a short position of Groupe Partouche. Check out your portfolio center. Please also check ongoing floating volatility patterns of Vente Unique and Groupe Partouche.
Diversification Opportunities for Vente Unique and Groupe Partouche
0.57 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Vente and Groupe is 0.57. Overlapping area represents the amount of risk that can be diversified away by holding Vente Unique and Groupe Partouche SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Groupe Partouche and Vente Unique 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 Vente Unique are associated (or correlated) with Groupe Partouche. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Groupe Partouche has no effect on the direction of Vente Unique i.e., Vente Unique and Groupe Partouche go up and down completely randomly.
Pair Corralation between Vente Unique and Groupe Partouche
Assuming the 90 days trading horizon Vente Unique is expected to under-perform the Groupe Partouche. In addition to that, Vente Unique is 1.34 times more volatile than Groupe Partouche SA. It trades about -0.34 of its total potential returns per unit of risk. Groupe Partouche SA is currently generating about -0.11 per unit of volatility. If you would invest 2,090 in Groupe Partouche SA on September 3, 2024 and sell it today you would lose (80.00) from holding Groupe Partouche SA or give up 3.83% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Vente Unique vs. Groupe Partouche SA
Performance |
| Timeline |
| Vente Unique |
| Groupe Partouche |
Vente Unique and Groupe Partouche Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Vente Unique and Groupe Partouche
The main advantage of trading using opposite Vente Unique and Groupe Partouche positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Vente Unique position performs unexpectedly, Groupe Partouche 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 Partouche will offset losses from the drop in Groupe Partouche's long position.| Vente Unique vs. Piscines Desjoyaux SA | Vente Unique vs. Groupe LDLC SA | Vente Unique vs. Centrale dAchat Franaise | Vente Unique vs. Akwel SA |
| Groupe Partouche vs. SA Catana Group | Groupe Partouche vs. Trigano SA | Groupe Partouche vs. Bnteau SA | Groupe Partouche vs. Piscines Desjoyaux 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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
Other Complementary Tools
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing | |
| Transaction History View history of all your transactions and understand their impact on performance | |
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios | |
| Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. |