Correlation Between Atento SA and Cass Information
Can any of the company-specific risk be diversified away by investing in both Atento SA and Cass Information 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 Atento SA and Cass Information into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Atento SA and Cass Information Systems, you can compare the effects of market volatilities on Atento SA and Cass 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 Atento SA with a short position of Cass Information. Check out your portfolio center. Please also check ongoing floating volatility patterns of Atento SA and Cass Information.
Diversification Opportunities for Atento SA and Cass Information
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Atento and Cass is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Atento SA and Cass Information Systems in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cass Information Systems and Atento SA 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 Atento SA are associated (or correlated) with Cass Information. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cass Information Systems has no effect on the direction of Atento SA i.e., Atento SA and Cass Information go up and down completely randomly.
Pair Corralation between Atento SA and Cass Information
If you would invest 47.00 in Atento SA on October 23, 2024 and sell it today you would earn a total of 0.00 from holding Atento SA or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 5.56% |
| Values | Daily Returns |
Atento SA vs. Cass Information Systems
Performance |
| Timeline |
| Atento SA |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Cass Information Systems |
Atento SA and Cass Information Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Atento SA and Cass Information
The main advantage of trading using opposite Atento SA and Cass Information positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Atento SA position performs unexpectedly, Cass 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 Cass Information will offset losses from the drop in Cass Information's long position.| Atento SA vs. SMX Public Limited | Atento SA vs. System1 | Atento SA vs. Lichen China Limited | Atento SA vs. Eastman Kodak Co |
| Cass Information vs. First Advantage Corp | Cass Information vs. Rentokil Initial PLC | Cass Information vs. CBIZ Inc | Cass Information vs. Civeo Corp |
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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
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