Correlation Between BNP Paribas and Apator SA
Can any of the company-specific risk be diversified away by investing in both BNP Paribas and Apator SA 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 BNP Paribas and Apator SA into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between BNP Paribas Bank and Apator SA, you can compare the effects of market volatilities on BNP Paribas and Apator SA 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 BNP Paribas with a short position of Apator SA. Check out your portfolio center. Please also check ongoing floating volatility patterns of BNP Paribas and Apator SA.
Diversification Opportunities for BNP Paribas and Apator SA
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between BNP and Apator is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding BNP Paribas Bank and Apator SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Apator SA and BNP Paribas 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 BNP Paribas Bank are associated (or correlated) with Apator SA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Apator SA has no effect on the direction of BNP Paribas i.e., BNP Paribas and Apator SA go up and down completely randomly.
Pair Corralation between BNP Paribas and Apator SA
If you would invest 5,047 in BNP Paribas Bank on October 25, 2024 and sell it today you would earn a total of 4,153 from holding BNP Paribas Bank or generate 82.29% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
BNP Paribas Bank vs. Apator SA
Performance |
| Timeline |
| BNP Paribas Bank |
| Apator SA |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Weak
BNP Paribas and Apator SA Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BNP Paribas and Apator SA
The main advantage of trading using opposite BNP Paribas and Apator SA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BNP Paribas position performs unexpectedly, Apator SA 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 Apator SA will offset losses from the drop in Apator SA's long position.| BNP Paribas vs. Investment Friends Capital | BNP Paribas vs. Saule Technologies SA | BNP Paribas vs. LSI Software SA | BNP Paribas vs. Quantum Software SA |
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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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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