Correlation Between CTPartners Executive and Apollo Bancorp
Can any of the company-specific risk be diversified away by investing in both CTPartners Executive and Apollo Bancorp 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 CTPartners Executive and Apollo Bancorp into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between CTPartners Executive Search and Apollo Bancorp, you can compare the effects of market volatilities on CTPartners Executive and Apollo Bancorp 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 CTPartners Executive with a short position of Apollo Bancorp. Check out your portfolio center. Please also check ongoing floating volatility patterns of CTPartners Executive and Apollo Bancorp.
Diversification Opportunities for CTPartners Executive and Apollo Bancorp
-0.42 | Correlation Coefficient |
Very good diversification
The 3 months correlation between CTPartners and Apollo is -0.42. Overlapping area represents the amount of risk that can be diversified away by holding CTPartners Executive Search and Apollo Bancorp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Apollo Bancorp and CTPartners Executive 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 CTPartners Executive Search are associated (or correlated) with Apollo Bancorp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Apollo Bancorp has no effect on the direction of CTPartners Executive i.e., CTPartners Executive and Apollo Bancorp go up and down completely randomly.
Pair Corralation between CTPartners Executive and Apollo Bancorp
If you would invest 3,570 in Apollo Bancorp on August 28, 2024 and sell it today you would earn a total of 80.00 from holding Apollo Bancorp or generate 2.24% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 1.56% |
| Values | Daily Returns |
CTPartners Executive Search vs. Apollo Bancorp
Performance |
| Timeline |
| CTPartners Executive |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Apollo Bancorp |
CTPartners Executive and Apollo Bancorp Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CTPartners Executive and Apollo Bancorp
The main advantage of trading using opposite CTPartners Executive and Apollo Bancorp positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CTPartners Executive position performs unexpectedly, Apollo Bancorp 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 Apollo Bancorp will offset losses from the drop in Apollo Bancorp's long position.| CTPartners Executive vs. Kelly Services A | CTPartners Executive vs. Korn Ferry | CTPartners Executive vs. Heidrick Struggles International | CTPartners Executive vs. Hudson Global |
| Apollo Bancorp vs. The Farmers Bank | Apollo Bancorp vs. Bank of Utica | Apollo Bancorp vs. Delhi Bank Corp | Apollo Bancorp vs. CCSB Financial Corp |
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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
Other Complementary Tools
| Watchlist Optimization Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm | |
| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities | |
| Equity Valuation Check real value of public entities based on technical and fundamental data | |
| Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years |