Correlation Between Atento SA and Team
Can any of the company-specific risk be diversified away by investing in both Atento SA and Team 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 Team into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Atento SA and Team Inc, you can compare the effects of market volatilities on Atento SA and Team 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 Team. Check out your portfolio center. Please also check ongoing floating volatility patterns of Atento SA and Team.
Diversification Opportunities for Atento SA and Team
Significant diversification
The 3 months correlation between Atento and Team is 0.08. Overlapping area represents the amount of risk that can be diversified away by holding Atento SA and Team Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Team 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 Team. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Team Inc has no effect on the direction of Atento SA i.e., Atento SA and Team go up and down completely randomly.
Pair Corralation between Atento SA and Team
If you would invest 1,369 in Team Inc on November 3, 2024 and sell it today you would earn a total of 311.00 from holding Team Inc or generate 22.72% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 4.76% |
| Values | Daily Returns |
Atento SA vs. Team Inc
Performance |
| Timeline |
| Atento SA |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Team Inc |
Atento SA and Team Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Atento SA and Team
The main advantage of trading using opposite Atento SA and Team positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Atento SA position performs unexpectedly, Team 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 Team will offset losses from the drop in Team'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 |
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 Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.
Other Complementary Tools
| Stocks Directory Find actively traded stocks across global markets | |
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences |