Correlation Between Cint Group and Divio Technologies
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By analyzing existing cross correlation between Cint Group AB and Divio Technologies AB, you can compare the effects of market volatilities on Cint Group and Divio Technologies 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 Divio Technologies. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cint Group and Divio Technologies.
Diversification Opportunities for Cint Group and Divio Technologies
-0.43 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Cint and Divio is -0.43. Overlapping area represents the amount of risk that can be diversified away by holding Cint Group AB and Divio Technologies AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Divio Technologies 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 Divio Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Divio Technologies has no effect on the direction of Cint Group i.e., Cint Group and Divio Technologies go up and down completely randomly.
Pair Corralation between Cint Group and Divio Technologies
Assuming the 90 days trading horizon Cint Group AB is expected to generate 0.64 times more return on investment than Divio Technologies. However, Cint Group AB is 1.56 times less risky than Divio Technologies. It trades about 0.09 of its potential returns per unit of risk. Divio Technologies AB is currently generating about -0.12 per unit of risk. If you would invest 1,237 in Cint Group AB on August 28, 2024 and sell it today you would earn a total of 53.00 from holding Cint Group AB or generate 4.28% 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. Divio Technologies AB
Performance |
| Timeline |
| Cint Group AB |
| Divio Technologies |
Cint Group and Divio Technologies Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cint Group and Divio Technologies
The main advantage of trading using opposite Cint Group and Divio Technologies positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cint Group position performs unexpectedly, Divio Technologies 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 Divio Technologies will offset losses from the drop in Divio Technologies' long position.| Cint Group vs. Sinch AB | Cint Group vs. Stillfront Group AB | Cint Group vs. Truecaller AB | Cint Group vs. BICO Group AB |
| Divio Technologies vs. Media and Games | Divio Technologies vs. Enersize Oy | Divio Technologies vs. Cantargia 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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
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