Correlation Between Enter Air and WIG 30
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By analyzing existing cross correlation between Enter Air SA and WIG 30, you can compare the effects of market volatilities on Enter Air and WIG 30 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 Enter Air with a short position of WIG 30. Check out your portfolio center. Please also check ongoing floating volatility patterns of Enter Air and WIG 30.
Diversification Opportunities for Enter Air and WIG 30
Very good diversification
The 3 months correlation between Enter and WIG is -0.21. Overlapping area represents the amount of risk that can be diversified away by holding Enter Air SA and WIG 30 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on WIG 30 and Enter Air 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 Enter Air SA are associated (or correlated) with WIG 30. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of WIG 30 has no effect on the direction of Enter Air i.e., Enter Air and WIG 30 go up and down completely randomly.
Pair Corralation between Enter Air and WIG 30
Assuming the 90 days trading horizon Enter Air SA is expected to generate 1.87 times more return on investment than WIG 30. However, Enter Air is 1.87 times more volatile than WIG 30. It trades about 0.04 of its potential returns per unit of risk. WIG 30 is currently generating about 0.03 per unit of risk. If you would invest 4,607 in Enter Air SA on August 31, 2024 and sell it today you would earn a total of 1,383 from holding Enter Air SA or generate 30.02% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.73% |
| Values | Daily Returns |
Enter Air SA vs. WIG 30
Performance |
| Timeline |
Enter Air and WIG 30 Volatility Contrast
Predicted Return Density |
| Returns |
Enter Air SA
Pair trading matchups for Enter Air
WIG 30
Pair trading matchups for WIG 30
Pair Trading with Enter Air and WIG 30
The main advantage of trading using opposite Enter Air and WIG 30 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Enter Air position performs unexpectedly, WIG 30 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 WIG 30 will offset losses from the drop in WIG 30's long position.| Enter Air vs. Banco Santander SA | Enter Air vs. UniCredit SpA | Enter Air vs. CEZ as | Enter Air vs. Polski Koncern Naftowy |
| WIG 30 vs. New Tech Venture | WIG 30 vs. Quantum Software SA | WIG 30 vs. Carlson Investments SA | WIG 30 vs. Play2Chill SA |
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 Portfolio Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
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