Correlation Between Alpha Trust and Ellaktor
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By analyzing existing cross correlation between Alpha Trust Andromeda and Ellaktor SA, you can compare the effects of market volatilities on Alpha Trust and Ellaktor 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 Alpha Trust with a short position of Ellaktor. Check out your portfolio center. Please also check ongoing floating volatility patterns of Alpha Trust and Ellaktor.
Diversification Opportunities for Alpha Trust and Ellaktor
-0.5 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Alpha and Ellaktor is -0.5. Overlapping area represents the amount of risk that can be diversified away by holding Alpha Trust Andromeda and Ellaktor SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ellaktor SA and Alpha Trust 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 Alpha Trust Andromeda are associated (or correlated) with Ellaktor. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ellaktor SA has no effect on the direction of Alpha Trust i.e., Alpha Trust and Ellaktor go up and down completely randomly.
Pair Corralation between Alpha Trust and Ellaktor
Assuming the 90 days trading horizon Alpha Trust Andromeda is expected to generate 0.49 times more return on investment than Ellaktor. However, Alpha Trust Andromeda is 2.04 times less risky than Ellaktor. It trades about 0.05 of its potential returns per unit of risk. Ellaktor SA is currently generating about 0.01 per unit of risk. If you would invest 499.00 in Alpha Trust Andromeda on August 30, 2024 and sell it today you would earn a total of 141.00 from holding Alpha Trust Andromeda or generate 28.26% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 99.8% |
| Values | Daily Returns |
Alpha Trust Andromeda vs. Ellaktor SA
Performance |
| Timeline |
| Alpha Trust Andromeda |
| Ellaktor SA |
Alpha Trust and Ellaktor Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Alpha Trust and Ellaktor
The main advantage of trading using opposite Alpha Trust and Ellaktor positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Alpha Trust position performs unexpectedly, Ellaktor 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 Ellaktor will offset losses from the drop in Ellaktor's long position.| Alpha Trust vs. Eurobank Ergasias Services | Alpha Trust vs. Profile Systems Software | Alpha Trust vs. Foodlink AE | Alpha Trust vs. Hellenic Telecommunications Organization |
| Ellaktor vs. Admie Holding SA | Ellaktor vs. Coca Cola HBC AG | Ellaktor vs. Quest Holdings SA | Ellaktor vs. Motor Oil Corinth |
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 Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.
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