Correlation Between ANEK Lines and Bank of Greece
Can any of the company-specific risk be diversified away by investing in both ANEK Lines and Bank of Greece 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 ANEK Lines and Bank of Greece into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between ANEK Lines SA and Bank of Greece, you can compare the effects of market volatilities on ANEK Lines and Bank of Greece 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 ANEK Lines with a short position of Bank of Greece. Check out your portfolio center. Please also check ongoing floating volatility patterns of ANEK Lines and Bank of Greece.
Diversification Opportunities for ANEK Lines and Bank of Greece
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between ANEK and Bank is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding ANEK Lines SA and Bank of Greece in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bank of Greece and ANEK Lines 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 ANEK Lines SA are associated (or correlated) with Bank of Greece. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bank of Greece has no effect on the direction of ANEK Lines i.e., ANEK Lines and Bank of Greece go up and down completely randomly.
Pair Corralation between ANEK Lines and Bank of Greece
If you would invest (100.00) in ANEK Lines SA on August 25, 2024 and sell it today you would earn a total of 100.00 from holding ANEK Lines SA or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
ANEK Lines SA vs. Bank of Greece
Performance |
| Timeline |
| ANEK Lines SA |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Bank of Greece |
ANEK Lines and Bank of Greece Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ANEK Lines and Bank of Greece
The main advantage of trading using opposite ANEK Lines and Bank of Greece positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ANEK Lines position performs unexpectedly, Bank of Greece 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 Bank of Greece will offset losses from the drop in Bank of Greece's long position.| ANEK Lines vs. Lampsa Hellenic Hotels | ANEK Lines vs. Intertech SA Inter | ANEK Lines vs. Profile Systems Software | ANEK Lines vs. Sidma SA Steel |
| Bank of Greece vs. Intracom Constructions Societe | Bank of Greece vs. Daios Plastics SA | Bank of Greece vs. Sidma SA Steel | Bank of Greece vs. Optronics Technologies 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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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