Correlation Between Apator SA and Asseco South
Can any of the company-specific risk be diversified away by investing in both Apator SA and Asseco South 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 Apator SA and Asseco South into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Apator SA and Asseco South Eastern, you can compare the effects of market volatilities on Apator SA and Asseco South 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 Apator SA with a short position of Asseco South. Check out your portfolio center. Please also check ongoing floating volatility patterns of Apator SA and Asseco South.
Diversification Opportunities for Apator SA and Asseco South
0.19 | Correlation Coefficient |
Average diversification
The 3 months correlation between Apator and Asseco is 0.19. Overlapping area represents the amount of risk that can be diversified away by holding Apator SA and Asseco South Eastern in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Asseco South Eastern and Apator 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 Apator SA are associated (or correlated) with Asseco South. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Asseco South Eastern has no effect on the direction of Apator SA i.e., Apator SA and Asseco South go up and down completely randomly.
Pair Corralation between Apator SA and Asseco South
Assuming the 90 days trading horizon Apator SA is expected to under-perform the Asseco South. In addition to that, Apator SA is 1.08 times more volatile than Asseco South Eastern. It trades about -0.16 of its total potential returns per unit of risk. Asseco South Eastern is currently generating about -0.08 per unit of volatility. If you would invest 4,990 in Asseco South Eastern on September 1, 2024 and sell it today you would lose (120.00) from holding Asseco South Eastern or give up 2.4% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Apator SA vs. Asseco South Eastern
Performance |
| Timeline |
| Apator SA |
| Asseco South Eastern |
Apator SA and Asseco South Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Apator SA and Asseco South
The main advantage of trading using opposite Apator SA and Asseco South positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Apator SA position performs unexpectedly, Asseco South 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 Asseco South will offset losses from the drop in Asseco South's long position.| Apator SA vs. Esotiq Henderson SA | Apator SA vs. Echo Investment SA | Apator SA vs. Asseco South Eastern | Apator SA vs. Vercom SA |
| Asseco South vs. Tower Investments SA | Asseco South vs. Mlk Foods Public | Asseco South vs. SOFTWARE MANSION SPOLKA | Asseco South vs. Kool2play 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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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