Correlation Between Freenet AG and CENTURIA OFFICE
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By analyzing existing cross correlation between freenet AG and CENTURIA OFFICE REIT, you can compare the effects of market volatilities on Freenet AG and CENTURIA OFFICE 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 Freenet AG with a short position of CENTURIA OFFICE. Check out your portfolio center. Please also check ongoing floating volatility patterns of Freenet AG and CENTURIA OFFICE.
Diversification Opportunities for Freenet AG and CENTURIA OFFICE
-0.24 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Freenet and CENTURIA is -0.24. Overlapping area represents the amount of risk that can be diversified away by holding freenet AG and CENTURIA OFFICE REIT in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CENTURIA OFFICE REIT and Freenet AG 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 freenet AG are associated (or correlated) with CENTURIA OFFICE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CENTURIA OFFICE REIT has no effect on the direction of Freenet AG i.e., Freenet AG and CENTURIA OFFICE go up and down completely randomly.
Pair Corralation between Freenet AG and CENTURIA OFFICE
Assuming the 90 days trading horizon freenet AG is expected to generate 0.65 times more return on investment than CENTURIA OFFICE. However, freenet AG is 1.53 times less risky than CENTURIA OFFICE. It trades about 0.09 of its potential returns per unit of risk. CENTURIA OFFICE REIT is currently generating about 0.0 per unit of risk. If you would invest 1,772 in freenet AG on September 13, 2024 and sell it today you would earn a total of 1,098 from holding freenet AG or generate 61.96% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
freenet AG vs. CENTURIA OFFICE REIT
Performance |
| Timeline |
| freenet AG |
| CENTURIA OFFICE REIT |
Freenet AG and CENTURIA OFFICE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Freenet AG and CENTURIA OFFICE
The main advantage of trading using opposite Freenet AG and CENTURIA OFFICE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Freenet AG position performs unexpectedly, CENTURIA OFFICE 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 CENTURIA OFFICE will offset losses from the drop in CENTURIA OFFICE's long position.| Freenet AG vs. CENTURIA OFFICE REIT | Freenet AG vs. URBAN OUTFITTERS | Freenet AG vs. MI Homes | Freenet AG vs. LANDSEA HOMES P |
| CENTURIA OFFICE vs. Apple Inc | CENTURIA OFFICE vs. Apple Inc | CENTURIA OFFICE vs. Apple Inc | CENTURIA OFFICE vs. Apple Inc |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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