Correlation Between CA Immobilien and IMMOFINANZ
Can any of the company-specific risk be diversified away by investing in both CA Immobilien and IMMOFINANZ 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 CA Immobilien and IMMOFINANZ into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between CA Immobilien Anlagen and IMMOFINANZ AG, you can compare the effects of market volatilities on CA Immobilien and IMMOFINANZ 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 CA Immobilien with a short position of IMMOFINANZ. Check out your portfolio center. Please also check ongoing floating volatility patterns of CA Immobilien and IMMOFINANZ.
Diversification Opportunities for CA Immobilien and IMMOFINANZ
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between CAI and IMMOFINANZ is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding CA Immobilien Anlagen and IMMOFINANZ AG in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on IMMOFINANZ AG and CA Immobilien 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 CA Immobilien Anlagen are associated (or correlated) with IMMOFINANZ. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of IMMOFINANZ AG has no effect on the direction of CA Immobilien i.e., CA Immobilien and IMMOFINANZ go up and down completely randomly.
Pair Corralation between CA Immobilien and IMMOFINANZ
Assuming the 90 days trading horizon CA Immobilien is expected to generate 4.83 times less return on investment than IMMOFINANZ. In addition to that, CA Immobilien is 1.14 times more volatile than IMMOFINANZ AG. It trades about 0.06 of its total potential returns per unit of risk. IMMOFINANZ AG is currently generating about 0.35 per unit of volatility. If you would invest 1,484 in IMMOFINANZ AG on November 4, 2024 and sell it today you would earn a total of 200.00 from holding IMMOFINANZ AG or generate 13.48% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
CA Immobilien Anlagen vs. IMMOFINANZ AG
Performance |
| Timeline |
| CA Immobilien Anlagen |
| IMMOFINANZ AG |
CA Immobilien and IMMOFINANZ Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CA Immobilien and IMMOFINANZ
The main advantage of trading using opposite CA Immobilien and IMMOFINANZ positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CA Immobilien position performs unexpectedly, IMMOFINANZ 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 IMMOFINANZ will offset losses from the drop in IMMOFINANZ's long position.| CA Immobilien vs. IMMOFINANZ AG | CA Immobilien vs. Wienerberger AG | CA Immobilien vs. Vienna Insurance Group | CA Immobilien vs. Oesterr Post AG |
| IMMOFINANZ vs. CA Immobilien Anlagen | IMMOFINANZ vs. Voestalpine AG | IMMOFINANZ vs. Raiffeisen Bank International | IMMOFINANZ vs. UNIQA Insurance Group |
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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
Other Complementary Tools
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device |