Correlation Between Cboe UK and Autins Group
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By analyzing existing cross correlation between Cboe UK Consumer and Autins Group plc, you can compare the effects of market volatilities on Cboe UK and Autins Group 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 Cboe UK with a short position of Autins Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cboe UK and Autins Group.
Diversification Opportunities for Cboe UK and Autins Group
-0.94 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Cboe and Autins is -0.94. Overlapping area represents the amount of risk that can be diversified away by holding Cboe UK Consumer and Autins Group plc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Autins Group plc and Cboe UK 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 Cboe UK Consumer are associated (or correlated) with Autins Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Autins Group plc has no effect on the direction of Cboe UK i.e., Cboe UK and Autins Group go up and down completely randomly.
Pair Corralation between Cboe UK and Autins Group
Assuming the 90 days trading horizon Cboe UK Consumer is expected to generate 0.2 times more return on investment than Autins Group. However, Cboe UK Consumer is 4.91 times less risky than Autins Group. It trades about 0.46 of its potential returns per unit of risk. Autins Group plc is currently generating about -0.28 per unit of risk. If you would invest 2,971,067 in Cboe UK Consumer on September 2, 2024 and sell it today you would earn a total of 289,235 from holding Cboe UK Consumer or generate 9.74% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cboe UK Consumer vs. Autins Group plc
Performance |
| Timeline |
Cboe UK and Autins Group Volatility Contrast
Predicted Return Density |
| Returns |
Cboe UK Consumer
Pair trading matchups for Cboe UK
Autins Group plc
Pair trading matchups for Autins Group
Pair Trading with Cboe UK and Autins Group
The main advantage of trading using opposite Cboe UK and Autins Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cboe UK position performs unexpectedly, Autins Group 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 Autins Group will offset losses from the drop in Autins Group's long position.| Cboe UK vs. Check Point Software | Cboe UK vs. Evolution Gaming Group | Cboe UK vs. Beeks Trading | Cboe UK vs. Hansa Investment |
| Autins Group vs. Auction Technology Group | Autins Group vs. Centaur Media | Autins Group vs. XLMedia PLC | Autins Group vs. Sunny Optical Technology |
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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
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