Correlation Between JSC Halyk and Rémy Cointreau
Can any of the company-specific risk be diversified away by investing in both JSC Halyk and Rémy Cointreau 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 JSC Halyk and Rémy Cointreau into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between JSC Halyk bank and Rmy Cointreau SA, you can compare the effects of market volatilities on JSC Halyk and Rémy Cointreau 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 JSC Halyk with a short position of Rémy Cointreau. Check out your portfolio center. Please also check ongoing floating volatility patterns of JSC Halyk and Rémy Cointreau.
Diversification Opportunities for JSC Halyk and Rémy Cointreau
-0.52 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between JSC and Rémy is -0.52. Overlapping area represents the amount of risk that can be diversified away by holding JSC Halyk bank and Rmy Cointreau SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Rmy Cointreau SA and JSC Halyk 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 JSC Halyk bank are associated (or correlated) with Rémy Cointreau. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Rmy Cointreau SA has no effect on the direction of JSC Halyk i.e., JSC Halyk and Rémy Cointreau go up and down completely randomly.
Pair Corralation between JSC Halyk and Rémy Cointreau
Assuming the 90 days trading horizon JSC Halyk bank is expected to generate 1.73 times more return on investment than Rémy Cointreau. However, JSC Halyk is 1.73 times more volatile than Rmy Cointreau SA. It trades about 0.07 of its potential returns per unit of risk. Rmy Cointreau SA is currently generating about -0.09 per unit of risk. If you would invest 702.00 in JSC Halyk bank on October 11, 2024 and sell it today you would earn a total of 1,248 from holding JSC Halyk bank or generate 177.78% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
JSC Halyk bank vs. Rmy Cointreau SA
Performance |
| Timeline |
| JSC Halyk bank |
| Rmy Cointreau SA |
JSC Halyk and Rémy Cointreau Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JSC Halyk and Rémy Cointreau
The main advantage of trading using opposite JSC Halyk and Rémy Cointreau positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JSC Halyk position performs unexpectedly, Rémy Cointreau 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 Rémy Cointreau will offset losses from the drop in Rémy Cointreau's long position.| JSC Halyk vs. Scottish Mortgage Investment | JSC Halyk vs. CHRYSALIS INVESTMENTS LTD | JSC Halyk vs. Laureate Education | JSC Halyk vs. EMBARK EDUCATION LTD |
| Rémy Cointreau vs. Direct Line Insurance | Rémy Cointreau vs. Austevoll Seafood ASA | Rémy Cointreau vs. THAI BEVERAGE | Rémy Cointreau vs. JSC Halyk bank |
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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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