Correlation Between Atento SA and Maximus
Can any of the company-specific risk be diversified away by investing in both Atento SA and Maximus 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 Maximus into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Atento SA and Maximus, you can compare the effects of market volatilities on Atento SA and Maximus 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 Maximus. Check out your portfolio center. Please also check ongoing floating volatility patterns of Atento SA and Maximus.
Diversification Opportunities for Atento SA and Maximus
Pay attention - limited upside
The 3 months correlation between Atento and Maximus is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Atento SA and Maximus in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Maximus 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 Maximus. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Maximus has no effect on the direction of Atento SA i.e., Atento SA and Maximus go up and down completely randomly.
Pair Corralation between Atento SA and Maximus
If you would invest 7,282 in Maximus on October 23, 2024 and sell it today you would earn a total of 556.00 from holding Maximus or generate 7.64% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 5.56% |
| Values | Daily Returns |
Atento SA vs. Maximus
Performance |
| Timeline |
| Atento SA |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Maximus |
Atento SA and Maximus Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Atento SA and Maximus
The main advantage of trading using opposite Atento SA and Maximus positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Atento SA position performs unexpectedly, Maximus 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 Maximus will offset losses from the drop in Maximus' long position.| Atento SA vs. SMX Public Limited | Atento SA vs. System1 | Atento SA vs. Lichen China Limited | Atento SA vs. Eastman Kodak Co |
| Maximus vs. Network 1 Technologies | Maximus vs. First Advantage Corp | Maximus vs. BrightView Holdings | Maximus 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 Pair Correlation module to compare performance and examine fundamental relationship between any two equity instruments.
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