Correlation Between National Bank and ANEK Lines
Can any of the company-specific risk be diversified away by investing in both National Bank and ANEK Lines 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 National Bank and ANEK Lines into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between National Bank of and ANEK Lines SA, you can compare the effects of market volatilities on National Bank and ANEK Lines 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 National Bank with a short position of ANEK Lines. Check out your portfolio center. Please also check ongoing floating volatility patterns of National Bank and ANEK Lines.
Diversification Opportunities for National Bank and ANEK Lines
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between National and ANEK is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding National Bank of and ANEK Lines SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ANEK Lines SA and National Bank 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 National Bank of are associated (or correlated) with ANEK Lines. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ANEK Lines SA has no effect on the direction of National Bank i.e., National Bank and ANEK Lines go up and down completely randomly.
Pair Corralation between National Bank and ANEK Lines
If you would invest 456.00 in National Bank of on January 15, 2025 and sell it today you would earn a total of 415.00 from holding National Bank of or generate 91.01% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
National Bank of vs. ANEK Lines SA
Performance |
| Timeline |
| National Bank |
| ANEK Lines SA |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
National Bank and ANEK Lines Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with National Bank and ANEK Lines
The main advantage of trading using opposite National Bank and ANEK Lines positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if National Bank position performs unexpectedly, ANEK Lines 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 ANEK Lines will offset losses from the drop in ANEK Lines' long position.| National Bank vs. Alpha Services and | National Bank vs. Eurobank Ergasias Services | National Bank vs. Piraeus Financial Holdings | National Bank vs. Greek Organization of |
| ANEK Lines vs. Logismos Information Systems | ANEK Lines vs. Aegean Airlines SA | ANEK Lines vs. Intracom Constructions Societe | ANEK Lines vs. Profile Systems Software |
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 Stocks Directory module to find actively traded stocks across global markets.
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