Correlation Between Augros Cosmetic and Fashion Bel
Can any of the company-specific risk be diversified away by investing in both Augros Cosmetic and Fashion Bel 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 Augros Cosmetic and Fashion Bel into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Augros Cosmetic Packaging and Fashion Bel Air, you can compare the effects of market volatilities on Augros Cosmetic and Fashion Bel 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 Augros Cosmetic with a short position of Fashion Bel. Check out your portfolio center. Please also check ongoing floating volatility patterns of Augros Cosmetic and Fashion Bel.
Diversification Opportunities for Augros Cosmetic and Fashion Bel
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Augros and Fashion is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Augros Cosmetic Packaging and Fashion Bel Air in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Fashion Bel Air and Augros Cosmetic 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 Augros Cosmetic Packaging are associated (or correlated) with Fashion Bel. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fashion Bel Air has no effect on the direction of Augros Cosmetic i.e., Augros Cosmetic and Fashion Bel go up and down completely randomly.
Pair Corralation between Augros Cosmetic and Fashion Bel
If you would invest 700.00 in Augros Cosmetic Packaging on November 28, 2024 and sell it today you would lose (10.00) from holding Augros Cosmetic Packaging or give up 1.43% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Augros Cosmetic Packaging vs. Fashion Bel Air
Performance |
| Timeline |
| Augros Cosmetic Packaging |
| Fashion Bel Air |
Augros Cosmetic and Fashion Bel Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Augros Cosmetic and Fashion Bel
The main advantage of trading using opposite Augros Cosmetic and Fashion Bel positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Augros Cosmetic position performs unexpectedly, Fashion Bel 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 Fashion Bel will offset losses from the drop in Fashion Bel's long position.| Augros Cosmetic vs. Barbara Bui SA | Augros Cosmetic vs. Aurea SA | Augros Cosmetic vs. Acanthe Dveloppement | Augros Cosmetic vs. Centrale dAchat Franaise |
| Fashion Bel vs. Groupe JAJ | Fashion Bel vs. ST Dupont | Fashion Bel vs. Roctool | Fashion Bel vs. Mg Internation |
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 Stocks Directory module to find actively traded stocks across global markets.
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