Correlation Between Athens General and Logismos Information
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By analyzing existing cross correlation between Athens General Composite and Logismos Information Systems, you can compare the effects of market volatilities on Athens General and Logismos Information 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 Athens General with a short position of Logismos Information. Check out your portfolio center. Please also check ongoing floating volatility patterns of Athens General and Logismos Information.
Diversification Opportunities for Athens General and Logismos Information
0.66 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Athens and Logismos is 0.66. Overlapping area represents the amount of risk that can be diversified away by holding Athens General Composite and Logismos Information Systems in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Logismos Information and Athens General 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 Athens General Composite are associated (or correlated) with Logismos Information. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Logismos Information has no effect on the direction of Athens General i.e., Athens General and Logismos Information go up and down completely randomly.
Pair Corralation between Athens General and Logismos Information
Assuming the 90 days trading horizon Athens General Composite is expected to generate 0.67 times more return on investment than Logismos Information. However, Athens General Composite is 1.49 times less risky than Logismos Information. It trades about 0.0 of its potential returns per unit of risk. Logismos Information Systems is currently generating about -0.11 per unit of risk. If you would invest 140,260 in Athens General Composite on August 25, 2024 and sell it today you would lose (102.00) from holding Athens General Composite or give up 0.07% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Significant |
Accuracy | 100.0% |
Values | Daily Returns |
Athens General Composite vs. Logismos Information Systems
Performance |
Timeline |
Athens General and Logismos Information Volatility Contrast
Predicted Return Density |
Returns |
Athens General Composite
Pair trading matchups for Athens General
Logismos Information Systems
Pair trading matchups for Logismos Information
Pair Trading with Athens General and Logismos Information
The main advantage of trading using opposite Athens General and Logismos Information positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Athens General position performs unexpectedly, Logismos Information 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 Logismos Information will offset losses from the drop in Logismos Information's long position.Athens General vs. Intracom Constructions Societe | Athens General vs. Thrace Plastics Holding | Athens General vs. Logismos Information Systems | Athens General vs. Elvalhalcor Hellenic Copper |
Logismos Information vs. National Bank of | Logismos Information vs. EL D Mouzakis | Logismos Information vs. Lampsa Hellenic Hotels | Logismos Information vs. Eurobank Ergasias Services |
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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
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