Correlation Between Casino Guichard and Etn Fr
Can any of the company-specific risk be diversified away by investing in both Casino Guichard and Etn Fr 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 Casino Guichard and Etn Fr into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Casino Guichard Perrachon Socit and Etn Fr Colruyt, you can compare the effects of market volatilities on Casino Guichard and Etn Fr 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 Casino Guichard with a short position of Etn Fr. Check out your portfolio center. Please also check ongoing floating volatility patterns of Casino Guichard and Etn Fr.
Diversification Opportunities for Casino Guichard and Etn Fr
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Casino and Etn is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Casino Guichard Perrachon Soci and Etn Fr Colruyt in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Etn Fr Colruyt and Casino Guichard 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 Casino Guichard Perrachon Socit are associated (or correlated) with Etn Fr. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Etn Fr Colruyt has no effect on the direction of Casino Guichard i.e., Casino Guichard and Etn Fr go up and down completely randomly.
Pair Corralation between Casino Guichard and Etn Fr
If you would invest (100.00) in Etn Fr Colruyt on December 1, 2024 and sell it today you would earn a total of 100.00 from holding Etn Fr Colruyt or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Casino Guichard Perrachon Soci vs. Etn Fr Colruyt
Performance |
| Timeline |
| Casino Guichard Perr |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
| Etn Fr Colruyt |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Casino Guichard and Etn Fr Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Casino Guichard and Etn Fr
The main advantage of trading using opposite Casino Guichard and Etn Fr positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Casino Guichard position performs unexpectedly, Etn Fr 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 Etn Fr will offset losses from the drop in Etn Fr's long position.| Casino Guichard vs. Carrefour SA | Casino Guichard vs. J Sainsbury plc | Casino Guichard vs. Om Holdings International | Casino Guichard vs. Carrefour SA PK |
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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 Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
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