Correlation Between Creotech Instruments and Robs Group
Can any of the company-specific risk be diversified away by investing in both Creotech Instruments and Robs Group 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 Creotech Instruments and Robs Group into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Creotech Instruments SA and Robs Group Logistic, you can compare the effects of market volatilities on Creotech Instruments and Robs Group 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 Creotech Instruments with a short position of Robs Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Creotech Instruments and Robs Group.
Diversification Opportunities for Creotech Instruments and Robs Group
-0.11 | Correlation Coefficient |
Good diversification
The 3 months correlation between Creotech and Robs is -0.11. Overlapping area represents the amount of risk that can be diversified away by holding Creotech Instruments SA and Robs Group Logistic in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Robs Group Logistic and Creotech Instruments 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 Creotech Instruments SA are associated (or correlated) with Robs Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Robs Group Logistic has no effect on the direction of Creotech Instruments i.e., Creotech Instruments and Robs Group go up and down completely randomly.
Pair Corralation between Creotech Instruments and Robs Group
Assuming the 90 days trading horizon Creotech Instruments SA is expected to under-perform the Robs Group. But the stock apears to be less risky and, when comparing its historical volatility, Creotech Instruments SA is 10.48 times less risky than Robs Group. The stock trades about -0.17 of its potential returns per unit of risk. The Robs Group Logistic is currently generating about 0.24 of returns per unit of risk over similar time horizon. If you would invest 55.00 in Robs Group Logistic on September 2, 2024 and sell it today you would earn a total of 38.00 from holding Robs Group Logistic or generate 69.09% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.0% |
| Values | Daily Returns |
Creotech Instruments SA vs. Robs Group Logistic
Performance |
| Timeline |
| Creotech Instruments |
| Robs Group Logistic |
Creotech Instruments and Robs Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Creotech Instruments and Robs Group
The main advantage of trading using opposite Creotech Instruments and Robs Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Creotech Instruments position performs unexpectedly, Robs Group 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 Robs Group will offset losses from the drop in Robs Group's long position.| Creotech Instruments vs. Asseco Business Solutions | Creotech Instruments vs. Detalion Games SA | Creotech Instruments vs. Asseco South Eastern | Creotech Instruments vs. CFI Holding SA |
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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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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