Correlation Between Compugroup Medical and Deutsche Bank
Can any of the company-specific risk be diversified away by investing in both Compugroup Medical and Deutsche Bank 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 Compugroup Medical and Deutsche Bank into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Compugroup Medical SE and Deutsche Bank Aktiengesellschaft, you can compare the effects of market volatilities on Compugroup Medical and Deutsche Bank 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 Compugroup Medical with a short position of Deutsche Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of Compugroup Medical and Deutsche Bank.
Diversification Opportunities for Compugroup Medical and Deutsche Bank
-0.36 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Compugroup and Deutsche is -0.36. Overlapping area represents the amount of risk that can be diversified away by holding Compugroup Medical SE and Deutsche Bank Aktiengesellscha in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Deutsche Bank Aktien and Compugroup Medical 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 Compugroup Medical SE are associated (or correlated) with Deutsche Bank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Deutsche Bank Aktien has no effect on the direction of Compugroup Medical i.e., Compugroup Medical and Deutsche Bank go up and down completely randomly.
Pair Corralation between Compugroup Medical and Deutsche Bank
Assuming the 90 days horizon Compugroup Medical SE is expected to under-perform the Deutsche Bank. In addition to that, Compugroup Medical is 1.38 times more volatile than Deutsche Bank Aktiengesellschaft. It trades about -0.06 of its total potential returns per unit of risk. Deutsche Bank Aktiengesellschaft is currently generating about 0.06 per unit of volatility. If you would invest 940.00 in Deutsche Bank Aktiengesellschaft on August 27, 2024 and sell it today you would earn a total of 613.00 from holding Deutsche Bank Aktiengesellschaft or generate 65.21% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Compugroup Medical SE vs. Deutsche Bank Aktiengesellscha
Performance |
| Timeline |
| Compugroup Medical |
| Deutsche Bank Aktien |
Compugroup Medical and Deutsche Bank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Compugroup Medical and Deutsche Bank
The main advantage of trading using opposite Compugroup Medical and Deutsche Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Compugroup Medical position performs unexpectedly, Deutsche Bank 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 Deutsche Bank will offset losses from the drop in Deutsche Bank's long position.| Compugroup Medical vs. ANTA SPORTS PRODUCT | Compugroup Medical vs. LG Display Co | Compugroup Medical vs. LGI Homes | Compugroup Medical vs. KB HOME |
| Deutsche Bank vs. YATRA ONLINE DL 0001 | Deutsche Bank vs. NORTHEAST UTILITIES | Deutsche Bank vs. MagnaChip Semiconductor Corp | Deutsche Bank vs. TOREX SEMICONDUCTOR LTD |
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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
Other Complementary Tools
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
| ETFs Find actively traded Exchange Traded Funds (ETF) from around the world | |
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
| Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges |