Correlation Between BOS BETTER and United Internet
Can any of the company-specific risk be diversified away by investing in both BOS BETTER and United Internet 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 BOS BETTER and United Internet into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between BOS BETTER ONLINE and United Internet AG, you can compare the effects of market volatilities on BOS BETTER and United Internet 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 BOS BETTER with a short position of United Internet. Check out your portfolio center. Please also check ongoing floating volatility patterns of BOS BETTER and United Internet.
Diversification Opportunities for BOS BETTER and United Internet
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between BOS and United is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding BOS BETTER ONLINE and United Internet AG in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on United Internet AG and BOS BETTER 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 BOS BETTER ONLINE are associated (or correlated) with United Internet. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of United Internet AG has no effect on the direction of BOS BETTER i.e., BOS BETTER and United Internet go up and down completely randomly.
Pair Corralation between BOS BETTER and United Internet
If you would invest 236.00 in BOS BETTER ONLINE on October 30, 2024 and sell it today you would earn a total of 0.00 from holding BOS BETTER ONLINE or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
BOS BETTER ONLINE vs. United Internet AG
Performance |
| Timeline |
| BOS BETTER ONLINE |
| United Internet AG |
BOS BETTER and United Internet Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BOS BETTER and United Internet
The main advantage of trading using opposite BOS BETTER and United Internet positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BOS BETTER position performs unexpectedly, United Internet 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 United Internet will offset losses from the drop in United Internet's long position.| BOS BETTER vs. REVO INSURANCE SPA | BOS BETTER vs. Comba Telecom Systems | BOS BETTER vs. Spirent Communications plc | BOS BETTER vs. Synchrony Financial |
| United Internet vs. WESANA HEALTH HOLD | United Internet vs. EPSILON HEALTHCARE LTD | United Internet vs. RCI Hospitality Holdings | United Internet vs. Phibro Animal Health |
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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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