Correlation Between Ford and Accunia Invest

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Can any of the company-specific risk be diversified away by investing in both Ford and Accunia Invest 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 Ford and Accunia Invest into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Ford Motor and Accunia Invest EUR, you can compare the effects of market volatilities on Ford and Accunia Invest 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 Ford with a short position of Accunia Invest. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ford and Accunia Invest.

Diversification Opportunities for Ford and Accunia Invest

-0.16
  Correlation Coefficient

Good diversification

The 3 months correlation between Ford and Accunia is -0.16. Overlapping area represents the amount of risk that can be diversified away by holding Ford Motor and Accunia Invest EUR in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Accunia Invest EUR and Ford 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 Ford Motor are associated (or correlated) with Accunia Invest. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Accunia Invest EUR has no effect on the direction of Ford i.e., Ford and Accunia Invest go up and down completely randomly.

Pair Corralation between Ford and Accunia Invest

Taking into account the 90-day investment horizon Ford Motor is expected to generate 6.71 times more return on investment than Accunia Invest. However, Ford is 6.71 times more volatile than Accunia Invest EUR. It trades about 0.22 of its potential returns per unit of risk. Accunia Invest EUR is currently generating about 0.1 per unit of risk. If you would invest  1,022  in Ford Motor on September 3, 2024 and sell it today you would earn a total of  91.00  from holding Ford Motor or generate 8.9% return on investment over 90 days.
Time Period3 Months [change]
DirectionMoves Against 
StrengthInsignificant
Accuracy95.24%
ValuesDaily Returns

Ford Motor  vs.  Accunia Invest EUR

 Performance 
       Timeline  
Ford Motor 

Risk-Adjusted Performance

2 of 100

 
Weak
 
Strong
Weak
Compared to the overall equity markets, risk-adjusted returns on investments in Ford Motor are ranked lower than 2 (%) of all global equities and portfolios over the last 90 days. Despite nearly stable technical and fundamental indicators, Ford is not utilizing all of its potentials. The latest stock price disturbance, may contribute to mid-run losses for the stockholders.
Accunia Invest EUR 

Risk-Adjusted Performance

1 of 100

 
Weak
 
Strong
Weak
Compared to the overall equity markets, risk-adjusted returns on investments in Accunia Invest EUR are ranked lower than 1 (%) of all global equities and portfolios over the last 90 days. In spite of rather sound technical and fundamental indicators, Accunia Invest is not utilizing all of its potentials. The current stock price tumult, may contribute to shorter-term losses for the shareholders.

Ford and Accunia Invest Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with Ford and Accunia Invest

The main advantage of trading using opposite Ford and Accunia Invest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ford position performs unexpectedly, Accunia Invest 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 Accunia Invest will offset losses from the drop in Accunia Invest's long position.
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The idea behind Ford Motor and Accunia Invest EUR pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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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 Commodity Directory module to find actively traded commodities issued by global exchanges.

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