Correlation Between Exail Technologies and Marie Brizard
Can any of the company-specific risk be diversified away by investing in both Exail Technologies and Marie Brizard 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 Exail Technologies and Marie Brizard into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Exail Technologies SA and Marie Brizard Wine, you can compare the effects of market volatilities on Exail Technologies and Marie Brizard 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 Exail Technologies with a short position of Marie Brizard. Check out your portfolio center. Please also check ongoing floating volatility patterns of Exail Technologies and Marie Brizard.
Diversification Opportunities for Exail Technologies and Marie Brizard
-0.23 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Exail and Marie is -0.23. Overlapping area represents the amount of risk that can be diversified away by holding Exail Technologies SA and Marie Brizard Wine in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Marie Brizard Wine and Exail Technologies 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 Exail Technologies SA are associated (or correlated) with Marie Brizard. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Marie Brizard Wine has no effect on the direction of Exail Technologies i.e., Exail Technologies and Marie Brizard go up and down completely randomly.
Pair Corralation between Exail Technologies and Marie Brizard
Assuming the 90 days trading horizon Exail Technologies is expected to generate 7.41 times less return on investment than Marie Brizard. In addition to that, Exail Technologies is 1.55 times more volatile than Marie Brizard Wine. It trades about 0.01 of its total potential returns per unit of risk. Marie Brizard Wine is currently generating about 0.1 per unit of volatility. If you would invest 225.00 in Marie Brizard Wine on August 24, 2024 and sell it today you would earn a total of 168.00 from holding Marie Brizard Wine or generate 74.67% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Exail Technologies SA vs. Marie Brizard Wine
Performance |
| Timeline |
| Exail Technologies |
| Marie Brizard Wine |
Exail Technologies and Marie Brizard Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Exail Technologies and Marie Brizard
The main advantage of trading using opposite Exail Technologies and Marie Brizard positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Exail Technologies position performs unexpectedly, Marie Brizard 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 Marie Brizard will offset losses from the drop in Marie Brizard's long position.| Exail Technologies vs. Airbus Group SE | Exail Technologies vs. Safran SA | Exail Technologies vs. Thales SA | Exail Technologies vs. Dassault Aviation SA |
| Marie Brizard vs. Stef SA | Marie Brizard vs. Bonduelle SCA | Marie Brizard vs. Lisi SA | Marie Brizard vs. Interparfums 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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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