Correlation Between Cint Group and Boozt AB
Can any of the company-specific risk be diversified away by investing in both Cint Group and Boozt AB 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 Cint Group and Boozt AB into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Cint Group AB and Boozt AB, you can compare the effects of market volatilities on Cint Group and Boozt AB 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 Cint Group with a short position of Boozt AB. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cint Group and Boozt AB.
Diversification Opportunities for Cint Group and Boozt AB
-0.41 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Cint and Boozt is -0.41. Overlapping area represents the amount of risk that can be diversified away by holding Cint Group AB and Boozt AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Boozt AB and Cint Group 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 Cint Group AB are associated (or correlated) with Boozt AB. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Boozt AB has no effect on the direction of Cint Group i.e., Cint Group and Boozt AB go up and down completely randomly.
Pair Corralation between Cint Group and Boozt AB
Assuming the 90 days trading horizon Cint Group AB is expected to generate 1.56 times more return on investment than Boozt AB. However, Cint Group is 1.56 times more volatile than Boozt AB. It trades about 0.19 of its potential returns per unit of risk. Boozt AB is currently generating about -0.1 per unit of risk. If you would invest 813.00 in Cint Group AB on November 27, 2024 and sell it today you would earn a total of 61.00 from holding Cint Group AB or generate 7.5% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cint Group AB vs. Boozt AB
Performance |
| Timeline |
| Cint Group AB |
| Boozt AB |
Cint Group and Boozt AB Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cint Group and Boozt AB
The main advantage of trading using opposite Cint Group and Boozt AB positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cint Group position performs unexpectedly, Boozt AB 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 Boozt AB will offset losses from the drop in Boozt AB's long position.| Cint Group vs. Sinch AB | Cint Group vs. Stillfront Group AB | Cint Group vs. Truecaller AB | Cint Group vs. BICO Group AB |
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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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