Correlation Between Alpha Trust and Intralot
Can any of the company-specific risk be diversified away by investing in both Alpha Trust and Intralot 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 Alpha Trust and Intralot into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Alpha Trust Mutual and Intralot SA Integrated, you can compare the effects of market volatilities on Alpha Trust and Intralot 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 Alpha Trust with a short position of Intralot. Check out your portfolio center. Please also check ongoing floating volatility patterns of Alpha Trust and Intralot.
Diversification Opportunities for Alpha Trust and Intralot
0.17 | Correlation Coefficient |
Average diversification
The 3 months correlation between Alpha and Intralot is 0.17. Overlapping area represents the amount of risk that can be diversified away by holding Alpha Trust Mutual and Intralot SA Integrated in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Intralot SA Integrated and Alpha Trust 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 Alpha Trust Mutual are associated (or correlated) with Intralot. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Intralot SA Integrated has no effect on the direction of Alpha Trust i.e., Alpha Trust and Intralot go up and down completely randomly.
Pair Corralation between Alpha Trust and Intralot
Assuming the 90 days trading horizon Alpha Trust is expected to generate 4.55 times less return on investment than Intralot. But when comparing it to its historical volatility, Alpha Trust Mutual is 8.99 times less risky than Intralot. It trades about 0.09 of its potential returns per unit of risk. Intralot SA Integrated is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 105.00 in Intralot SA Integrated on November 5, 2024 and sell it today you would earn a total of 1.00 from holding Intralot SA Integrated or generate 0.95% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 95.0% |
| Values | Daily Returns |
Alpha Trust Mutual vs. Intralot SA Integrated
Performance |
| Timeline |
| Alpha Trust Mutual |
| Intralot SA Integrated |
Alpha Trust and Intralot Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Alpha Trust and Intralot
The main advantage of trading using opposite Alpha Trust and Intralot positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Alpha Trust position performs unexpectedly, Intralot 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 Intralot will offset losses from the drop in Intralot's long position.| Alpha Trust vs. Jumbo SA | Alpha Trust vs. Gr Sarantis SA | Alpha Trust vs. Hellenic Exchanges | Alpha Trust vs. Aegean Airlines SA |
| Intralot vs. Greek Organization of | Intralot vs. Public Power | Intralot vs. Mytilineos SA | Intralot vs. Hellenic Telecommunications Organization |
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 Latest Portfolios module to quick portfolio dashboard that showcases your latest portfolios.
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