Correlation Between Cenergy Holdings and Interlife General
Can any of the company-specific risk be diversified away by investing in both Cenergy Holdings and Interlife General 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 Cenergy Holdings and Interlife General into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Cenergy Holdings SA and Interlife General Insurance, you can compare the effects of market volatilities on Cenergy Holdings and Interlife General 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 Cenergy Holdings with a short position of Interlife General. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cenergy Holdings and Interlife General.
Diversification Opportunities for Cenergy Holdings and Interlife General
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Cenergy and Interlife is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Cenergy Holdings SA and Interlife General Insurance in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Interlife General and Cenergy Holdings 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 Cenergy Holdings SA are associated (or correlated) with Interlife General. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Interlife General has no effect on the direction of Cenergy Holdings i.e., Cenergy Holdings and Interlife General go up and down completely randomly.
Pair Corralation between Cenergy Holdings and Interlife General
If you would invest 391.00 in Interlife General Insurance on September 4, 2024 and sell it today you would earn a total of 45.00 from holding Interlife General Insurance or generate 11.51% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.2% |
| Values | Daily Returns |
Cenergy Holdings SA vs. Interlife General Insurance
Performance |
| Timeline |
| Cenergy Holdings |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Interlife General |
Cenergy Holdings and Interlife General Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cenergy Holdings and Interlife General
The main advantage of trading using opposite Cenergy Holdings and Interlife General positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cenergy Holdings position performs unexpectedly, Interlife General 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 Interlife General will offset losses from the drop in Interlife General's long position.| Cenergy Holdings vs. Sidma SA Steel | Cenergy Holdings vs. Aegean Airlines SA | Cenergy Holdings vs. Eurobank Ergasias Services | Cenergy Holdings vs. Hellenic Telecommunications Organization |
| Interlife General vs. Mytilineos SA | Interlife General vs. Motor Oil Corinth | Interlife General vs. Hellenic Petroleum SA |
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 Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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