Correlation Between Strategic Investments and Sixt SE
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By analyzing existing cross correlation between Strategic Investments AS and Sixt SE, you can compare the effects of market volatilities on Strategic Investments and Sixt SE 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 Strategic Investments with a short position of Sixt SE. Check out your portfolio center. Please also check ongoing floating volatility patterns of Strategic Investments and Sixt SE.
Diversification Opportunities for Strategic Investments and Sixt SE
-0.19 | Correlation Coefficient |
Good diversification
The 3 months correlation between Strategic and Sixt is -0.19. Overlapping area represents the amount of risk that can be diversified away by holding Strategic Investments AS and Sixt SE in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sixt SE and Strategic Investments 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 Strategic Investments AS are associated (or correlated) with Sixt SE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sixt SE has no effect on the direction of Strategic Investments i.e., Strategic Investments and Sixt SE go up and down completely randomly.
Pair Corralation between Strategic Investments and Sixt SE
Assuming the 90 days horizon Strategic Investments AS is expected to generate 2.49 times more return on investment than Sixt SE. However, Strategic Investments is 2.49 times more volatile than Sixt SE. It trades about 0.02 of its potential returns per unit of risk. Sixt SE is currently generating about 0.03 per unit of risk. If you would invest 14.00 in Strategic Investments AS on September 5, 2024 and sell it today you would earn a total of 0.00 from holding Strategic Investments AS or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Strategic Investments AS vs. Sixt SE
Performance |
| Timeline |
| Strategic Investments |
| Sixt SE |
Strategic Investments and Sixt SE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Strategic Investments and Sixt SE
The main advantage of trading using opposite Strategic Investments and Sixt SE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Strategic Investments position performs unexpectedly, Sixt SE 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 Sixt SE will offset losses from the drop in Sixt SE's long position.| Strategic Investments vs. Blackstone Group | Strategic Investments vs. BlackRock | Strategic Investments vs. The Bank of | Strategic Investments vs. Ameriprise Financial |
| Sixt SE vs. REGAL ASIAN INVESTMENTS | Sixt SE vs. DIVERSIFIED ROYALTY | Sixt SE vs. ECHO INVESTMENT ZY | Sixt SE vs. Strategic Investments AS |
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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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