Correlation Between Cresud SACIF and ANTA Sports
Can any of the company-specific risk be diversified away by investing in both Cresud SACIF and ANTA Sports 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 Cresud SACIF and ANTA Sports into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Cresud SACIF y and ANTA Sports Products, you can compare the effects of market volatilities on Cresud SACIF and ANTA Sports 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 Cresud SACIF with a short position of ANTA Sports. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cresud SACIF and ANTA Sports.
Diversification Opportunities for Cresud SACIF and ANTA Sports
-0.55 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Cresud and ANTA is -0.55. Overlapping area represents the amount of risk that can be diversified away by holding Cresud SACIF y and ANTA Sports Products in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ANTA Sports Products and Cresud SACIF 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 Cresud SACIF y are associated (or correlated) with ANTA Sports. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ANTA Sports Products has no effect on the direction of Cresud SACIF i.e., Cresud SACIF and ANTA Sports go up and down completely randomly.
Pair Corralation between Cresud SACIF and ANTA Sports
Assuming the 90 days horizon Cresud SACIF y is expected to under-perform the ANTA Sports. In addition to that, Cresud SACIF is 1.48 times more volatile than ANTA Sports Products. It trades about -0.06 of its total potential returns per unit of risk. ANTA Sports Products is currently generating about -0.07 per unit of volatility. If you would invest 25,972 in ANTA Sports Products on October 17, 2024 and sell it today you would lose (722.00) from holding ANTA Sports Products or give up 2.78% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 95.0% |
| Values | Daily Returns |
Cresud SACIF y vs. ANTA Sports Products
Performance |
| Timeline |
| Cresud SACIF y |
| ANTA Sports Products |
Cresud SACIF and ANTA Sports Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cresud SACIF and ANTA Sports
The main advantage of trading using opposite Cresud SACIF and ANTA Sports positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cresud SACIF position performs unexpectedly, ANTA Sports 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 ANTA Sports will offset losses from the drop in ANTA Sports' long position.| Cresud SACIF vs. Griffon | Cresud SACIF vs. Matthews International | Cresud SACIF vs. Valmont Industries | Cresud SACIF vs. Steel Partners Holdings |
| ANTA Sports vs. Brownies Marine Group | ANTA Sports vs. Golden Heaven Group | ANTA Sports vs. Dogness International Corp | ANTA Sports vs. OneSpaWorld Holdings |
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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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