Correlation Between Atento SA and PFSweb
Can any of the company-specific risk be diversified away by investing in both Atento SA and PFSweb 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 PFSweb into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Atento SA and PFSweb Inc, you can compare the effects of market volatilities on Atento SA and PFSweb 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 PFSweb. Check out your portfolio center. Please also check ongoing floating volatility patterns of Atento SA and PFSweb.
Diversification Opportunities for Atento SA and PFSweb
Very good diversification
The 3 months correlation between Atento and PFSweb is -0.5. Overlapping area represents the amount of risk that can be diversified away by holding Atento SA and PFSweb Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PFSweb Inc 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 PFSweb. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PFSweb Inc has no effect on the direction of Atento SA i.e., Atento SA and PFSweb go up and down completely randomly.
Pair Corralation between Atento SA and PFSweb
If you would invest 452.00 in PFSweb Inc on August 28, 2024 and sell it today you would earn a total of 0.00 from holding PFSweb Inc or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Atento SA vs. PFSweb Inc
Performance |
| Timeline |
| Atento SA |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| PFSweb Inc |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Atento SA and PFSweb Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Atento SA and PFSweb
The main advantage of trading using opposite Atento SA and PFSweb positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Atento SA position performs unexpectedly, PFSweb 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 PFSweb will offset losses from the drop in PFSweb'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 |
| PFSweb vs. Network 1 Technologies | PFSweb vs. Rentokil Initial PLC | PFSweb vs. Cass Information Systems | PFSweb vs. Maximus |
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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
Other Complementary Tools
| Stocks Directory Find actively traded stocks across global markets | |
| Positions Ratings Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
| Money Managers Screen money managers from public funds and ETFs managed around the world | |
| Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing |