Correlation Between Centrum Finansowe and Robs Group
Can any of the company-specific risk be diversified away by investing in both Centrum Finansowe and Robs Group 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 Centrum Finansowe and Robs Group into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Centrum Finansowe Banku and Robs Group Logistic, you can compare the effects of market volatilities on Centrum Finansowe and Robs 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 Centrum Finansowe with a short position of Robs Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Centrum Finansowe and Robs Group.
Diversification Opportunities for Centrum Finansowe and Robs Group
0.38 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Centrum and Robs is 0.38. Overlapping area represents the amount of risk that can be diversified away by holding Centrum Finansowe Banku and Robs Group Logistic in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Robs Group Logistic and Centrum Finansowe 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 Centrum Finansowe Banku are associated (or correlated) with Robs Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Robs Group Logistic has no effect on the direction of Centrum Finansowe i.e., Centrum Finansowe and Robs Group go up and down completely randomly.
Pair Corralation between Centrum Finansowe and Robs Group
Assuming the 90 days trading horizon Centrum Finansowe Banku is expected to generate 0.39 times more return on investment than Robs Group. However, Centrum Finansowe Banku is 2.55 times less risky than Robs Group. It trades about 0.06 of its potential returns per unit of risk. Robs Group Logistic is currently generating about -0.02 per unit of risk. If you would invest 328.00 in Centrum Finansowe Banku on September 2, 2024 and sell it today you would earn a total of 252.00 from holding Centrum Finansowe Banku or generate 76.83% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 80.57% |
| Values | Daily Returns |
Centrum Finansowe Banku vs. Robs Group Logistic
Performance |
| Timeline |
| Centrum Finansowe Banku |
| Robs Group Logistic |
Centrum Finansowe and Robs Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Centrum Finansowe and Robs Group
The main advantage of trading using opposite Centrum Finansowe and Robs Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Centrum Finansowe position performs unexpectedly, Robs 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 Robs Group will offset losses from the drop in Robs Group's long position.| Centrum Finansowe vs. Asseco Business Solutions | Centrum Finansowe vs. Detalion Games SA | Centrum Finansowe vs. Asseco South Eastern | Centrum Finansowe vs. CFI Holding SA |
| Robs Group vs. TEN SQUARE GAMES | Robs Group vs. SOFTWARE MANSION SPOLKA | Robs Group vs. Gaming Factory SA | Robs Group vs. 3R Games 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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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