Correlation Between Ekter SA and Flexopack Socit
Can any of the company-specific risk be diversified away by investing in both Ekter SA and Flexopack Socit 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 Ekter SA and Flexopack Socit into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Ekter SA and Flexopack Socit Anonyme, you can compare the effects of market volatilities on Ekter SA and Flexopack Socit 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 Ekter SA with a short position of Flexopack Socit. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ekter SA and Flexopack Socit.
Diversification Opportunities for Ekter SA and Flexopack Socit
-0.13 | Correlation Coefficient |
Good diversification
The 3 months correlation between Ekter and Flexopack is -0.13. Overlapping area represents the amount of risk that can be diversified away by holding Ekter SA and Flexopack Socit Anonyme in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Flexopack Socit Anonyme and Ekter SA 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 Ekter SA are associated (or correlated) with Flexopack Socit. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Flexopack Socit Anonyme has no effect on the direction of Ekter SA i.e., Ekter SA and Flexopack Socit go up and down completely randomly.
Pair Corralation between Ekter SA and Flexopack Socit
Assuming the 90 days trading horizon Ekter SA is expected to generate 3.13 times more return on investment than Flexopack Socit. However, Ekter SA is 3.13 times more volatile than Flexopack Socit Anonyme. It trades about -0.11 of its potential returns per unit of risk. Flexopack Socit Anonyme is currently generating about -0.34 per unit of risk. If you would invest 188.00 in Ekter SA on November 5, 2024 and sell it today you would lose (10.00) from holding Ekter SA or give up 5.32% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Ekter SA vs. Flexopack Socit Anonyme
Performance |
| Timeline |
| Ekter SA |
| Flexopack Socit Anonyme |
Ekter SA and Flexopack Socit Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ekter SA and Flexopack Socit
The main advantage of trading using opposite Ekter SA and Flexopack Socit positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ekter SA position performs unexpectedly, Flexopack Socit 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 Flexopack Socit will offset losses from the drop in Flexopack Socit's long position.| Ekter SA vs. Avax SA | Ekter SA vs. Intracom Constructions Societe | Ekter SA vs. Alumil Aluminium Industry | Ekter SA vs. GEK TERNA Holdings |
| Flexopack Socit vs. Jumbo SA | Flexopack Socit vs. Autohellas SA | Flexopack Socit vs. Thrace Plastics Holding | Flexopack Socit vs. Piraeus Port Authority |
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 Global Correlations module to find global opportunities by holding instruments from different markets.
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