Correlation Between ArcelorMittal and AKKO Invest

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Can any of the company-specific risk be diversified away by investing in both ArcelorMittal and AKKO Invest 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 ArcelorMittal and AKKO Invest into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between ArcelorMittal and AKKO Invest Nyrt, you can compare the effects of market volatilities on ArcelorMittal and AKKO Invest 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 ArcelorMittal with a short position of AKKO Invest. Check out your portfolio center. Please also check ongoing floating volatility patterns of ArcelorMittal and AKKO Invest.

Diversification Opportunities for ArcelorMittal and AKKO Invest

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  Correlation Coefficient

Pay attention - limited upside

The 3 months correlation between ArcelorMittal and AKKO is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding ArcelorMittal and AKKO Invest Nyrt in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AKKO Invest Nyrt and ArcelorMittal 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 ArcelorMittal are associated (or correlated) with AKKO Invest. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AKKO Invest Nyrt has no effect on the direction of ArcelorMittal i.e., ArcelorMittal and AKKO Invest go up and down completely randomly.

Pair Corralation between ArcelorMittal and AKKO Invest

If you would invest (100.00) in ArcelorMittal on September 18, 2024 and sell it today you would earn a total of  100.00  from holding ArcelorMittal or generate -100.0% return on investment over 90 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

ArcelorMittal  vs.  AKKO Invest Nyrt

 Performance 
       Timeline  
ArcelorMittal 

Risk-Adjusted Performance

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Over the last 90 days ArcelorMittal has generated negative risk-adjusted returns adding no value to investors with long positions. Even with relatively invariable essential indicators, ArcelorMittal is not utilizing all of its potentials. The current stock price agitation, may contribute to short-term losses for the retail investors.
AKKO Invest Nyrt 

Risk-Adjusted Performance

10 of 100

 
Weak
 
Strong
OK
Compared to the overall equity markets, risk-adjusted returns on investments in AKKO Invest Nyrt are ranked lower than 10 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively uncertain basic indicators, AKKO Invest unveiled solid returns over the last few months and may actually be approaching a breakup point.

ArcelorMittal and AKKO Invest Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with ArcelorMittal and AKKO Invest

The main advantage of trading using opposite ArcelorMittal and AKKO Invest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ArcelorMittal position performs unexpectedly, AKKO Invest 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 AKKO Invest will offset losses from the drop in AKKO Invest's long position.
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The idea behind ArcelorMittal and AKKO Invest Nyrt pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.

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