Correlation Between Fnac Darty and BOS Better
Can any of the company-specific risk be diversified away by investing in both Fnac Darty and BOS Better 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 Fnac Darty and BOS Better into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Fnac Darty SA and BOS Better Online, you can compare the effects of market volatilities on Fnac Darty and BOS Better 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 Fnac Darty with a short position of BOS Better. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fnac Darty and BOS Better.
Diversification Opportunities for Fnac Darty and BOS Better
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Fnac and BOS is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Fnac Darty SA and BOS Better Online in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BOS Better Online and Fnac Darty 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 Fnac Darty SA are associated (or correlated) with BOS Better. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BOS Better Online has no effect on the direction of Fnac Darty i.e., Fnac Darty and BOS Better go up and down completely randomly.
Pair Corralation between Fnac Darty and BOS Better
If you would invest 334.00 in BOS Better Online on October 24, 2024 and sell it today you would earn a total of 45.00 from holding BOS Better Online or generate 13.47% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 5.56% |
| Values | Daily Returns |
Fnac Darty SA vs. BOS Better Online
Performance |
| Timeline |
| Fnac Darty SA |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| BOS Better Online |
Fnac Darty and BOS Better Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fnac Darty and BOS Better
The main advantage of trading using opposite Fnac Darty and BOS Better positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fnac Darty position performs unexpectedly, BOS Better 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 BOS Better will offset losses from the drop in BOS Better's long position.| Fnac Darty vs. Westrock Coffee | Fnac Darty vs. Constellation Brands Class | Fnac Darty vs. Tradeweb Markets | Fnac Darty vs. MOGU Inc |
| BOS Better vs. KVH Industries | BOS Better vs. Aviat Networks | BOS Better vs. Harmonic | BOS Better vs. Telesat Corp |
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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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