Correlation Between AEON STORES and Atresmedia Corporación
Can any of the company-specific risk be diversified away by investing in both AEON STORES and Atresmedia Corporación 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 AEON STORES and Atresmedia Corporación into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between AEON STORES and Atresmedia Corporacin de, you can compare the effects of market volatilities on AEON STORES and Atresmedia Corporación 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 AEON STORES with a short position of Atresmedia Corporación. Check out your portfolio center. Please also check ongoing floating volatility patterns of AEON STORES and Atresmedia Corporación.
Diversification Opportunities for AEON STORES and Atresmedia Corporación
-0.16 | Correlation Coefficient |
Good diversification
The 3 months correlation between AEON and Atresmedia is -0.16. Overlapping area represents the amount of risk that can be diversified away by holding AEON STORES and Atresmedia Corporacin de in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Atresmedia Corporación and AEON STORES 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 AEON STORES are associated (or correlated) with Atresmedia Corporación. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Atresmedia Corporación has no effect on the direction of AEON STORES i.e., AEON STORES and Atresmedia Corporación go up and down completely randomly.
Pair Corralation between AEON STORES and Atresmedia Corporación
If you would invest 444.00 in Atresmedia Corporacin de on December 14, 2024 and sell it today you would earn a total of 54.00 from holding Atresmedia Corporacin de or generate 12.16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
AEON STORES vs. Atresmedia Corporacin de
Performance |
| Timeline |
| AEON STORES |
| Atresmedia Corporación |
AEON STORES and Atresmedia Corporación Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AEON STORES and Atresmedia Corporación
The main advantage of trading using opposite AEON STORES and Atresmedia Corporación positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AEON STORES position performs unexpectedly, Atresmedia Corporación 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 Atresmedia Corporación will offset losses from the drop in Atresmedia Corporación's long position.| AEON STORES vs. GERATHERM MEDICAL | ||
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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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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