Correlation Between Eurobank Ergasias and Trastor Real
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By analyzing existing cross correlation between Eurobank Ergasias Services and Trastor Real Estate, you can compare the effects of market volatilities on Eurobank Ergasias and Trastor Real 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 Trastor Real. Check out your portfolio center. Please also check ongoing floating volatility patterns of Eurobank Ergasias and Trastor Real.
Diversification Opportunities for Eurobank Ergasias and Trastor Real
0.22 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Eurobank and Trastor is 0.22. Overlapping area represents the amount of risk that can be diversified away by holding Eurobank Ergasias Services and Trastor Real Estate in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Trastor Real Estate 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 Trastor Real. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Trastor Real Estate has no effect on the direction of Eurobank Ergasias i.e., Eurobank Ergasias and Trastor Real go up and down completely randomly.
Pair Corralation between Eurobank Ergasias and Trastor Real
Assuming the 90 days trading horizon Eurobank Ergasias Services is expected to generate 0.69 times more return on investment than Trastor Real. However, Eurobank Ergasias Services is 1.44 times less risky than Trastor Real. It trades about 0.09 of its potential returns per unit of risk. Trastor Real Estate is currently generating about 0.02 per unit of risk. If you would invest 99.00 in Eurobank Ergasias Services on September 5, 2024 and sell it today you would earn a total of 116.00 from holding Eurobank Ergasias Services or generate 117.17% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 99.8% |
| Values | Daily Returns |
Eurobank Ergasias Services vs. Trastor Real Estate
Performance |
| Timeline |
| Eurobank Ergasias |
| Trastor Real Estate |
Eurobank Ergasias and Trastor Real Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Eurobank Ergasias and Trastor Real
The main advantage of trading using opposite Eurobank Ergasias and Trastor Real positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Eurobank Ergasias position performs unexpectedly, Trastor Real 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 Trastor Real will offset losses from the drop in Trastor Real's long position.| Eurobank Ergasias vs. Alpha Services and | Eurobank Ergasias vs. Piraeus Financial Holdings | Eurobank Ergasias vs. National Bank of | Eurobank Ergasias vs. Greek Organization of |
| Trastor Real vs. Admie Holding SA | Trastor Real vs. National Bank of | Trastor Real vs. Eurobank Ergasias Services | Trastor Real vs. Vogiatzoglou Systems 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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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