Correlation Between General Commercial and Ktima Kostas
Can any of the company-specific risk be diversified away by investing in both General Commercial and Ktima Kostas 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 General Commercial and Ktima Kostas into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between General Commercial Industrial and Ktima Kostas Lazaridis, you can compare the effects of market volatilities on General Commercial and Ktima Kostas 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 General Commercial with a short position of Ktima Kostas. Check out your portfolio center. Please also check ongoing floating volatility patterns of General Commercial and Ktima Kostas.
Diversification Opportunities for General Commercial and Ktima Kostas
0.51 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between General and Ktima is 0.51. Overlapping area represents the amount of risk that can be diversified away by holding General Commercial Industrial and Ktima Kostas Lazaridis in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ktima Kostas Lazaridis and General Commercial 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 General Commercial Industrial are associated (or correlated) with Ktima Kostas. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ktima Kostas Lazaridis has no effect on the direction of General Commercial i.e., General Commercial and Ktima Kostas go up and down completely randomly.
Pair Corralation between General Commercial and Ktima Kostas
If you would invest 181.00 in Ktima Kostas Lazaridis on September 4, 2024 and sell it today you would lose (9.00) from holding Ktima Kostas Lazaridis or give up 4.97% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 99.59% |
| Values | Daily Returns |
General Commercial Industrial vs. Ktima Kostas Lazaridis
Performance |
| Timeline |
| General Commercial |
| Ktima Kostas Lazaridis |
General Commercial and Ktima Kostas Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with General Commercial and Ktima Kostas
The main advantage of trading using opposite General Commercial and Ktima Kostas positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if General Commercial position performs unexpectedly, Ktima Kostas 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 Ktima Kostas will offset losses from the drop in Ktima Kostas' long position.| General Commercial vs. Ekter SA | General Commercial vs. Elton International Trading | General Commercial vs. Piraeus Port Authority | General Commercial vs. Hellenic Petroleum SA |
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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 Transaction History module to view history of all your transactions and understand their impact on performance.
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