Correlation Between Casino Guichard and Om Holdings
Can any of the company-specific risk be diversified away by investing in both Casino Guichard and Om Holdings 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 Om Holdings 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 Om Holdings International, you can compare the effects of market volatilities on Casino Guichard and Om Holdings 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 Om Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Casino Guichard and Om Holdings.
Diversification Opportunities for Casino Guichard and Om Holdings
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Casino and OMHI is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Casino Guichard Perrachon Soci and Om Holdings International in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Om Holdings International 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 Om Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Om Holdings International has no effect on the direction of Casino Guichard i.e., Casino Guichard and Om Holdings go up and down completely randomly.
Pair Corralation between Casino Guichard and Om Holdings
If you would invest 0.02 in Om Holdings International on October 24, 2024 and sell it today you would earn a total of 0.00 from holding Om Holdings International or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 4.76% |
| Values | Daily Returns |
Casino Guichard Perrachon Soci vs. Om Holdings International
Performance |
| Timeline |
| Casino Guichard Perr |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Om Holdings International |
Casino Guichard and Om Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Casino Guichard and Om Holdings
The main advantage of trading using opposite Casino Guichard and Om Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Casino Guichard position performs unexpectedly, Om Holdings 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 Om Holdings will offset losses from the drop in Om Holdings' 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 |
| Om Holdings vs. Carrefour SA | Om Holdings vs. J Sainsbury plc | Om Holdings vs. Carrefour SA PK | Om Holdings vs. Kesko Oyj ADR |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
Other Complementary Tools
| CEOs Directory Screen CEOs from public companies around the world | |
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity | |
| Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format |