Correlation Between Ellaktor and Intracom Constructions
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By analyzing existing cross correlation between Ellaktor SA and Intracom Constructions Societe, you can compare the effects of market volatilities on Ellaktor and Intracom Constructions 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 Ellaktor with a short position of Intracom Constructions. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ellaktor and Intracom Constructions.
Diversification Opportunities for Ellaktor and Intracom Constructions
0.68 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Ellaktor and Intracom is 0.68. Overlapping area represents the amount of risk that can be diversified away by holding Ellaktor SA and Intracom Constructions Societe in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Intracom Constructions and Ellaktor 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 Ellaktor SA are associated (or correlated) with Intracom Constructions. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Intracom Constructions has no effect on the direction of Ellaktor i.e., Ellaktor and Intracom Constructions go up and down completely randomly.
Pair Corralation between Ellaktor and Intracom Constructions
Assuming the 90 days trading horizon Ellaktor SA is expected to under-perform the Intracom Constructions. In addition to that, Ellaktor is 1.26 times more volatile than Intracom Constructions Societe. It trades about -0.19 of its total potential returns per unit of risk. Intracom Constructions Societe is currently generating about -0.05 per unit of volatility. If you would invest 484.00 in Intracom Constructions Societe on August 25, 2024 and sell it today you would lose (9.00) from holding Intracom Constructions Societe or give up 1.86% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Ellaktor SA vs. Intracom Constructions Societe
Performance |
| Timeline |
| Ellaktor SA |
| Intracom Constructions |
Ellaktor and Intracom Constructions Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ellaktor and Intracom Constructions
The main advantage of trading using opposite Ellaktor and Intracom Constructions positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ellaktor position performs unexpectedly, Intracom Constructions 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 Intracom Constructions will offset losses from the drop in Intracom Constructions' long position.| Ellaktor vs. Mytilineos SA | Ellaktor vs. Motor Oil Corinth | Ellaktor vs. Hellenic Petroleum SA | Ellaktor vs. National Bank of |
| Intracom Constructions vs. Mytilineos SA | Intracom Constructions vs. Intracom Holdings SA | Intracom Constructions vs. Ellaktor SA | Intracom Constructions vs. GEK TERNA 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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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