Correlation Between Caisse Rgionale and Manitou BF
Can any of the company-specific risk be diversified away by investing in both Caisse Rgionale and Manitou BF 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 Caisse Rgionale and Manitou BF into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Caisse rgionale de and Manitou BF SA, you can compare the effects of market volatilities on Caisse Rgionale and Manitou BF 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 Caisse Rgionale with a short position of Manitou BF. Check out your portfolio center. Please also check ongoing floating volatility patterns of Caisse Rgionale and Manitou BF.
Diversification Opportunities for Caisse Rgionale and Manitou BF
0.07 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Caisse and Manitou is 0.07. Overlapping area represents the amount of risk that can be diversified away by holding Caisse rgionale de and Manitou BF SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Manitou BF SA and Caisse Rgionale 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 Caisse rgionale de are associated (or correlated) with Manitou BF. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Manitou BF SA has no effect on the direction of Caisse Rgionale i.e., Caisse Rgionale and Manitou BF go up and down completely randomly.
Pair Corralation between Caisse Rgionale and Manitou BF
Assuming the 90 days trading horizon Caisse rgionale de is expected to generate 0.62 times more return on investment than Manitou BF. However, Caisse rgionale de is 1.6 times less risky than Manitou BF. It trades about 0.02 of its potential returns per unit of risk. Manitou BF SA is currently generating about 0.0 per unit of risk. If you would invest 8,794 in Caisse rgionale de on January 22, 2025 and sell it today you would earn a total of 741.00 from holding Caisse rgionale de or generate 8.43% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Caisse rgionale de vs. Manitou BF SA
Performance |
| Timeline |
| Caisse rgionale de |
| Manitou BF SA |
Caisse Rgionale and Manitou BF Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Caisse Rgionale and Manitou BF
The main advantage of trading using opposite Caisse Rgionale and Manitou BF positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Caisse Rgionale position performs unexpectedly, Manitou BF 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 Manitou BF will offset losses from the drop in Manitou BF's long position.| Caisse Rgionale vs. Caisse Regionale de | Caisse Rgionale vs. Caisse Rgionale du | Caisse Rgionale vs. Caisse Regionale de |
| Manitou BF vs. Haulotte Group SA | Manitou BF vs. Trigano SA | Manitou BF vs. Bnteau SA | Manitou BF vs. Derichebourg |
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 Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
Other Complementary Tools
| Price Exposure Probability Analyze equity upside and downside potential for a given time horizon across multiple markets | |
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
| Volatility Analysis Get historical volatility and risk analysis based on latest market data |