Correlation Between Atento SA and International Consolidated
Can any of the company-specific risk be diversified away by investing in both Atento SA and International Consolidated 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 International Consolidated into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Atento SA and International Consolidated Companies, you can compare the effects of market volatilities on Atento SA and International Consolidated 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 International Consolidated. Check out your portfolio center. Please also check ongoing floating volatility patterns of Atento SA and International Consolidated.
Diversification Opportunities for Atento SA and International Consolidated
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Atento and International is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Atento SA and International Consolidated Com in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on International Consolidated 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 International Consolidated. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of International Consolidated has no effect on the direction of Atento SA i.e., Atento SA and International Consolidated go up and down completely randomly.
Pair Corralation between Atento SA and International Consolidated
If you would invest 3.00 in International Consolidated Companies on October 24, 2024 and sell it today you would earn a total of 2.25 from holding International Consolidated Companies or generate 75.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 5.56% |
| Values | Daily Returns |
Atento SA vs. International Consolidated Com
Performance |
| Timeline |
| Atento SA |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| International Consolidated |
Atento SA and International Consolidated Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Atento SA and International Consolidated
The main advantage of trading using opposite Atento SA and International Consolidated positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Atento SA position performs unexpectedly, International Consolidated 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 International Consolidated will offset losses from the drop in International Consolidated'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 |
| International Consolidated vs. Frontera Group | International Consolidated vs. All American Pet | International Consolidated vs. XCPCNL Business Services | International Consolidated vs. Aramark Holdings |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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