Correlation Between Amper SA and Bankinter
Can any of the company-specific risk be diversified away by investing in both Amper SA and Bankinter 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 Amper SA and Bankinter into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Amper SA and Bankinter, you can compare the effects of market volatilities on Amper SA and Bankinter 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 Amper SA with a short position of Bankinter. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amper SA and Bankinter.
Diversification Opportunities for Amper SA and Bankinter
Pay attention - limited upside
The 3 months correlation between Amper and Bankinter is -0.82. Overlapping area represents the amount of risk that can be diversified away by holding Amper SA and Bankinter in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bankinter and Amper SA 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 Amper SA are associated (or correlated) with Bankinter. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bankinter has no effect on the direction of Amper SA i.e., Amper SA and Bankinter go up and down completely randomly.
Pair Corralation between Amper SA and Bankinter
Assuming the 90 days trading horizon Amper SA is expected to under-perform the Bankinter. In addition to that, Amper SA is 2.33 times more volatile than Bankinter. It trades about 0.0 of its total potential returns per unit of risk. Bankinter is currently generating about 0.04 per unit of volatility. If you would invest 571.00 in Bankinter on September 3, 2024 and sell it today you would earn a total of 178.00 from holding Bankinter or generate 31.17% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Amper SA vs. Bankinter
Performance |
| Timeline |
| Amper SA |
| Bankinter |
Amper SA and Bankinter Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Amper SA and Bankinter
The main advantage of trading using opposite Amper SA and Bankinter positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amper SA position performs unexpectedly, Bankinter 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 Bankinter will offset losses from the drop in Bankinter's long position.| Amper SA vs. Ercros | Amper SA vs. Urbas Grupo Financiero | Amper SA vs. Duro Felguera | Amper SA vs. ENCE Energa y |
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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
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