Correlation Between Ekter SA and Intralot
Can any of the company-specific risk be diversified away by investing in both Ekter SA and Intralot 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 Intralot into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Ekter SA and Intralot SA Integrated, you can compare the effects of market volatilities on Ekter SA and Intralot 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 Intralot. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ekter SA and Intralot.
Diversification Opportunities for Ekter SA and Intralot
Very poor diversification
The 3 months correlation between Ekter and Intralot is 0.84. Overlapping area represents the amount of risk that can be diversified away by holding Ekter SA and Intralot SA Integrated in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Intralot SA Integrated 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 Intralot. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Intralot SA Integrated has no effect on the direction of Ekter SA i.e., Ekter SA and Intralot go up and down completely randomly.
Pair Corralation between Ekter SA and Intralot
Assuming the 90 days trading horizon Ekter SA is expected to generate 1.21 times more return on investment than Intralot. However, Ekter SA is 1.21 times more volatile than Intralot SA Integrated. It trades about 0.08 of its potential returns per unit of risk. Intralot SA Integrated is currently generating about -0.18 per unit of risk. If you would invest 144.00 in Ekter SA on September 1, 2024 and sell it today you would earn a total of 6.00 from holding Ekter SA or generate 4.17% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Ekter SA vs. Intralot SA Integrated
Performance |
| Timeline |
| Ekter SA |
| Intralot SA Integrated |
Ekter SA and Intralot Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ekter SA and Intralot
The main advantage of trading using opposite Ekter SA and Intralot positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ekter SA position performs unexpectedly, Intralot 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 Intralot will offset losses from the drop in Intralot's long position.| Ekter SA vs. Mytilineos SA | Ekter SA vs. Terna Energy Societe | Ekter SA vs. Greek Organization of | Ekter SA vs. Motor Oil Corinth |
| Intralot vs. Greek Organization of | Intralot vs. Public Power | Intralot vs. Mytilineos SA | Intralot vs. Hellenic Telecommunications Organization |
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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
Other Complementary Tools
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios | |
| Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon | |
| Insider Screener Find insiders across different sectors to evaluate their impact on performance | |
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like |