Correlation Between Eurobank Ergasias and Logismos Information
Specify exactly 2 symbols:
By analyzing existing cross correlation between Eurobank Ergasias Services and Logismos Information Systems, you can compare the effects of market volatilities on Eurobank Ergasias and Logismos Information 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 Eurobank Ergasias with a short position of Logismos Information. Check out your portfolio center. Please also check ongoing floating volatility patterns of Eurobank Ergasias and Logismos Information.
Diversification Opportunities for Eurobank Ergasias and Logismos Information
0.57 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Eurobank and Logismos is 0.57. Overlapping area represents the amount of risk that can be diversified away by holding Eurobank Ergasias Services and Logismos Information Systems in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Logismos Information and Eurobank Ergasias 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 Eurobank Ergasias Services are associated (or correlated) with Logismos Information. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Logismos Information has no effect on the direction of Eurobank Ergasias i.e., Eurobank Ergasias and Logismos Information go up and down completely randomly.
Pair Corralation between Eurobank Ergasias and Logismos Information
Assuming the 90 days trading horizon Eurobank Ergasias Services is expected to generate 1.14 times more return on investment than Logismos Information. However, Eurobank Ergasias is 1.14 times more volatile than Logismos Information Systems. It trades about 0.26 of its potential returns per unit of risk. Logismos Information Systems is currently generating about -0.11 per unit of risk. If you would invest 189.00 in Eurobank Ergasias Services on August 24, 2024 and sell it today you would earn a total of 15.00 from holding Eurobank Ergasias Services or generate 7.94% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Eurobank Ergasias Services vs. Logismos Information Systems
Performance |
| Timeline |
| Eurobank Ergasias |
| Logismos Information |
Eurobank Ergasias and Logismos Information Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Eurobank Ergasias and Logismos Information
The main advantage of trading using opposite Eurobank Ergasias and Logismos Information positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Eurobank Ergasias position performs unexpectedly, Logismos Information 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 Logismos Information will offset losses from the drop in Logismos Information's long position.| Eurobank Ergasias vs. Bank of Greece | Eurobank Ergasias vs. Attica Bank SA | Eurobank Ergasias vs. National Bank of | Eurobank Ergasias vs. EL D Mouzakis |
| Logismos Information vs. National Bank of | Logismos Information vs. EL D Mouzakis | Logismos Information vs. Lampsa Hellenic Hotels | Logismos Information vs. Eurobank Ergasias Services |
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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
Other Complementary Tools
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
| Idea Analyzer Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas | |
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| Commodity Directory Find actively traded commodities issued by global exchanges |