Correlation Between Fillamentum and Raiffeisen Bank
Can any of the company-specific risk be diversified away by investing in both Fillamentum and Raiffeisen Bank 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 Fillamentum and Raiffeisen Bank into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Fillamentum as and Raiffeisen Bank International, you can compare the effects of market volatilities on Fillamentum and Raiffeisen Bank 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 Fillamentum with a short position of Raiffeisen Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fillamentum and Raiffeisen Bank.
Diversification Opportunities for Fillamentum and Raiffeisen Bank
-0.44 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Fillamentum and Raiffeisen is -0.44. Overlapping area represents the amount of risk that can be diversified away by holding Fillamentum as and Raiffeisen Bank International in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Raiffeisen Bank Inte and Fillamentum 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 Fillamentum as are associated (or correlated) with Raiffeisen Bank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Raiffeisen Bank Inte has no effect on the direction of Fillamentum i.e., Fillamentum and Raiffeisen Bank go up and down completely randomly.
Pair Corralation between Fillamentum and Raiffeisen Bank
Assuming the 90 days trading horizon Fillamentum as is expected to under-perform the Raiffeisen Bank. In addition to that, Fillamentum is 12.42 times more volatile than Raiffeisen Bank International. It trades about -0.21 of its total potential returns per unit of risk. Raiffeisen Bank International is currently generating about 0.22 per unit of volatility. If you would invest 47,300 in Raiffeisen Bank International on September 12, 2024 and sell it today you would earn a total of 3,400 from holding Raiffeisen Bank International or generate 7.19% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 95.65% |
| Values | Daily Returns |
Fillamentum as vs. Raiffeisen Bank International
Performance |
| Timeline |
| Fillamentum as |
| Raiffeisen Bank Inte |
Fillamentum and Raiffeisen Bank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fillamentum and Raiffeisen Bank
The main advantage of trading using opposite Fillamentum and Raiffeisen Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fillamentum position performs unexpectedly, Raiffeisen Bank 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 Raiffeisen Bank will offset losses from the drop in Raiffeisen Bank's long position.| Fillamentum vs. Raiffeisen Bank International | Fillamentum vs. Vienna Insurance Group | Fillamentum vs. Moneta Money Bank | Fillamentum vs. JT ARCH INVESTMENTS |
| Raiffeisen Bank vs. UNIQA Insurance Group | Raiffeisen Bank vs. JT ARCH INVESTMENTS | Raiffeisen Bank vs. Vienna Insurance Group |
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 Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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