Correlation Between Asseco South and Globe Trade
Can any of the company-specific risk be diversified away by investing in both Asseco South and Globe Trade 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 Asseco South and Globe Trade into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Asseco South Eastern and Globe Trade Centre, you can compare the effects of market volatilities on Asseco South and Globe Trade 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 Globe Trade. Check out your portfolio center. Please also check ongoing floating volatility patterns of Asseco South and Globe Trade.
Diversification Opportunities for Asseco South and Globe Trade
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Asseco and Globe is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Asseco South Eastern and Globe Trade Centre in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Globe Trade Centre 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 Globe Trade. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Globe Trade Centre has no effect on the direction of Asseco South i.e., Asseco South and Globe Trade go up and down completely randomly.
Pair Corralation between Asseco South and Globe Trade
If you would invest 473.00 in Globe Trade Centre on August 29, 2024 and sell it today you would lose (34.00) from holding Globe Trade Centre or give up 7.19% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.4% |
| Values | Daily Returns |
Asseco South Eastern vs. Globe Trade Centre
Performance |
| Timeline |
| Asseco South Eastern |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Globe Trade Centre |
Asseco South and Globe Trade Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Asseco South and Globe Trade
The main advantage of trading using opposite Asseco South and Globe Trade positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Asseco South position performs unexpectedly, Globe Trade 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 Globe Trade will offset losses from the drop in Globe Trade's long position.| Asseco South vs. Bank Millennium SA | Asseco South vs. Quantum Software SA | Asseco South vs. Santander Bank Polska | Asseco South vs. Echo Investment SA |
| Globe Trade vs. Noble Financials SA | Globe Trade vs. Asseco Business Solutions | Globe Trade vs. Detalion Games SA | Globe Trade 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 Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.
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