Correlation Between Asseco South and Beta ETF
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By analyzing existing cross correlation between Asseco South Eastern and Beta ETF Nasdaq 100, you can compare the effects of market volatilities on Asseco South and Beta ETF 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 Asseco South with a short position of Beta ETF. Check out your portfolio center. Please also check ongoing floating volatility patterns of Asseco South and Beta ETF.
Diversification Opportunities for Asseco South and Beta ETF
0.21 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Asseco and Beta is 0.21. Overlapping area represents the amount of risk that can be diversified away by holding Asseco South Eastern and Beta ETF Nasdaq 100 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Beta ETF Nasdaq and Asseco South 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 Asseco South Eastern are associated (or correlated) with Beta ETF. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Beta ETF Nasdaq has no effect on the direction of Asseco South i.e., Asseco South and Beta ETF go up and down completely randomly.
Pair Corralation between Asseco South and Beta ETF
Assuming the 90 days trading horizon Asseco South Eastern is expected to under-perform the Beta ETF. But the stock apears to be less risky and, when comparing its historical volatility, Asseco South Eastern is 2.25 times less risky than Beta ETF. The stock trades about -0.08 of its potential returns per unit of risk. The Beta ETF Nasdaq 100 is currently generating about 0.21 of returns per unit of risk over similar time horizon. If you would invest 85,700 in Beta ETF Nasdaq 100 on September 1, 2024 and sell it today you would earn a total of 11,320 from holding Beta ETF Nasdaq 100 or generate 13.21% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Asseco South Eastern vs. Beta ETF Nasdaq 100
Performance |
| Timeline |
| Asseco South Eastern |
| Beta ETF Nasdaq |
Asseco South and Beta ETF Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Asseco South and Beta ETF
The main advantage of trading using opposite Asseco South and Beta ETF positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Asseco South position performs unexpectedly, Beta ETF 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 Beta ETF will offset losses from the drop in Beta ETF's long position.| Asseco South vs. Tower Investments SA | Asseco South vs. Mlk Foods Public | Asseco South vs. SOFTWARE MANSION SPOLKA | Asseco South vs. Kool2play SA |
| Beta ETF vs. Asseco Business Solutions | Beta ETF vs. Detalion Games SA | Beta ETF vs. Asseco South Eastern | Beta ETF vs. CFI Holding 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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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