Correlation Between Deutsche Post and CTT -
Can any of the company-specific risk be diversified away by investing in both Deutsche Post and CTT - 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 Deutsche Post and CTT - into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Deutsche Post AG and CTT Correios, you can compare the effects of market volatilities on Deutsche Post and CTT - 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 Deutsche Post with a short position of CTT -. Check out your portfolio center. Please also check ongoing floating volatility patterns of Deutsche Post and CTT -.
Diversification Opportunities for Deutsche Post and CTT -
-0.67 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Deutsche and CTT is -0.67. Overlapping area represents the amount of risk that can be diversified away by holding Deutsche Post AG and CTT Correios in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CTT Correios and Deutsche Post 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 Deutsche Post AG are associated (or correlated) with CTT -. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CTT Correios has no effect on the direction of Deutsche Post i.e., Deutsche Post and CTT - go up and down completely randomly.
Pair Corralation between Deutsche Post and CTT -
If you would invest 328.00 in CTT Correios on October 16, 2024 and sell it today you would earn a total of 198.00 from holding CTT Correios or generate 60.37% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 0.2% |
| Values | Daily Returns |
Deutsche Post AG vs. CTT Correios
Performance |
| Timeline |
| Deutsche Post AG |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| CTT Correios |
Deutsche Post and CTT - Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Deutsche Post and CTT -
The main advantage of trading using opposite Deutsche Post and CTT - positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Deutsche Post position performs unexpectedly, CTT - 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 CTT - will offset losses from the drop in CTT -'s long position.| Deutsche Post vs. ANTA SPORTS PRODUCT | Deutsche Post vs. Gaming and Leisure | Deutsche Post vs. CARSALESCOM | Deutsche Post vs. The Japan Steel |
| CTT - vs. QBE Insurance Group | CTT - vs. China Reinsurance | CTT - vs. Tower Semiconductor | CTT - vs. Universal Insurance 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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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