Correlation Between CoinShares International and Cint Group
Can any of the company-specific risk be diversified away by investing in both CoinShares International and Cint 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 CoinShares International and Cint Group into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between CoinShares International and Cint Group AB, you can compare the effects of market volatilities on CoinShares International and Cint 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 CoinShares International with a short position of Cint Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of CoinShares International and Cint Group.
Diversification Opportunities for CoinShares International and Cint Group
0.38 | Correlation Coefficient |
Weak diversification
The 3 months correlation between CoinShares and Cint is 0.38. Overlapping area represents the amount of risk that can be diversified away by holding CoinShares International and Cint Group AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cint Group AB and CoinShares International 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 CoinShares International are associated (or correlated) with Cint Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cint Group AB has no effect on the direction of CoinShares International i.e., CoinShares International and Cint Group go up and down completely randomly.
Pair Corralation between CoinShares International and Cint Group
Assuming the 90 days horizon CoinShares International is expected to generate 1.96 times more return on investment than Cint Group. However, CoinShares International is 1.96 times more volatile than Cint Group AB. It trades about 0.42 of its potential returns per unit of risk. Cint Group AB is currently generating about -0.02 per unit of risk. If you would invest 5,320 in CoinShares International on September 1, 2024 and sell it today you would earn a total of 3,160 from holding CoinShares International or generate 59.4% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 95.65% |
| Values | Daily Returns |
CoinShares International vs. Cint Group AB
Performance |
| Timeline |
| CoinShares International |
| Cint Group AB |
CoinShares International and Cint Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CoinShares International and Cint Group
The main advantage of trading using opposite CoinShares International and Cint Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CoinShares International position performs unexpectedly, Cint 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 Cint Group will offset losses from the drop in Cint Group's long position.| CoinShares International vs. Cint Group AB | CoinShares International vs. Bonesupport Holding AB | CoinShares International vs. Catena Media plc | CoinShares International vs. Hexatronic Group AB |
| Cint Group vs. Sinch AB | Cint Group vs. Stillfront Group AB | Cint Group vs. Truecaller AB | Cint Group vs. BICO Group 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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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