Correlation Between Cicor Technologies and Banque Cantonale
Can any of the company-specific risk be diversified away by investing in both Cicor Technologies and Banque Cantonale 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 Cicor Technologies and Banque Cantonale into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Cicor Technologies and Banque Cantonale du, you can compare the effects of market volatilities on Cicor Technologies and Banque Cantonale 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 Cicor Technologies with a short position of Banque Cantonale. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cicor Technologies and Banque Cantonale.
Diversification Opportunities for Cicor Technologies and Banque Cantonale
0.01 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Cicor and Banque is 0.01. Overlapping area represents the amount of risk that can be diversified away by holding Cicor Technologies and Banque Cantonale du in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Banque Cantonale and Cicor Technologies 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 Cicor Technologies are associated (or correlated) with Banque Cantonale. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Banque Cantonale has no effect on the direction of Cicor Technologies i.e., Cicor Technologies and Banque Cantonale go up and down completely randomly.
Pair Corralation between Cicor Technologies and Banque Cantonale
Assuming the 90 days trading horizon Cicor Technologies is expected to generate 1.91 times more return on investment than Banque Cantonale. However, Cicor Technologies is 1.91 times more volatile than Banque Cantonale du. It trades about 0.34 of its potential returns per unit of risk. Banque Cantonale du is currently generating about 0.13 per unit of risk. If you would invest 6,080 in Cicor Technologies on November 5, 2024 and sell it today you would earn a total of 700.00 from holding Cicor Technologies or generate 11.51% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cicor Technologies vs. Banque Cantonale du
Performance |
| Timeline |
| Cicor Technologies |
| Banque Cantonale |
Cicor Technologies and Banque Cantonale Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cicor Technologies and Banque Cantonale
The main advantage of trading using opposite Cicor Technologies and Banque Cantonale positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cicor Technologies position performs unexpectedly, Banque Cantonale 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 Banque Cantonale will offset losses from the drop in Banque Cantonale's long position.| Cicor Technologies vs. Comet Holding AG | Cicor Technologies vs. Also Holding AG | Cicor Technologies vs. Komax Holding AG | Cicor Technologies vs. Bucher Industries AG |
| Banque Cantonale vs. Glarner Kantonalbank | Banque Cantonale vs. Adval Tech Holding | Banque Cantonale vs. Softwareone Holding | Banque Cantonale vs. Schweizerische Nationalbank |
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 Pair Correlation module to compare performance and examine fundamental relationship between any two equity instruments.
Other Complementary Tools
| Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity | |
| Commodity Directory Find actively traded commodities issued by global exchanges |