Correlation Between Etex SA and Shurgard Self
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By analyzing existing cross correlation between Etex SA and Shurgard Self Storage, you can compare the effects of market volatilities on Etex SA and Shurgard Self 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 Etex SA with a short position of Shurgard Self. Check out your portfolio center. Please also check ongoing floating volatility patterns of Etex SA and Shurgard Self.
Diversification Opportunities for Etex SA and Shurgard Self
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Etex and Shurgard is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Etex SA and Shurgard Self Storage in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shurgard Self Storage and Etex 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 Etex SA are associated (or correlated) with Shurgard Self. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shurgard Self Storage has no effect on the direction of Etex SA i.e., Etex SA and Shurgard Self go up and down completely randomly.
Pair Corralation between Etex SA and Shurgard Self
If you would invest 0.00 in Etex SA on November 28, 2024 and sell it today you would earn a total of 0.00 from holding Etex SA or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 4.55% |
| Values | Daily Returns |
Etex SA vs. Shurgard Self Storage
Performance |
| Timeline |
| Etex SA |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
| Shurgard Self Storage |
Etex SA and Shurgard Self Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Etex SA and Shurgard Self
The main advantage of trading using opposite Etex SA and Shurgard Self positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Etex SA position performs unexpectedly, Shurgard Self 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 Shurgard Self will offset losses from the drop in Shurgard Self's long position.| Etex SA vs. Onward Medical NV | Etex SA vs. Vastned Retail Belgium | Etex SA vs. Retail Estates | Etex SA vs. Home Invest Belgium |
| Shurgard Self vs. VGP NV | Shurgard Self vs. Warehouses de Pauw | Shurgard Self vs. Xior Student Housing | Shurgard Self vs. Aedifica |
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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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