Correlation Between Hansa Investment and BBGI SICAV
Can any of the company-specific risk be diversified away by investing in both Hansa Investment and BBGI SICAV 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 Hansa Investment and BBGI SICAV into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Hansa Investment and BBGI SICAV SA, you can compare the effects of market volatilities on Hansa Investment and BBGI SICAV 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 Hansa Investment with a short position of BBGI SICAV. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hansa Investment and BBGI SICAV.
Diversification Opportunities for Hansa Investment and BBGI SICAV
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Hansa and BBGI is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Hansa Investment and BBGI SICAV SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BBGI SICAV SA and Hansa Investment 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 Hansa Investment are associated (or correlated) with BBGI SICAV. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BBGI SICAV SA has no effect on the direction of Hansa Investment i.e., Hansa Investment and BBGI SICAV go up and down completely randomly.
Pair Corralation between Hansa Investment and BBGI SICAV
If you would invest 17,996 in Hansa Investment on September 4, 2024 and sell it today you would earn a total of 4,304 from holding Hansa Investment or generate 23.92% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.26% |
| Values | Daily Returns |
Hansa Investment vs. BBGI SICAV SA
Performance |
| Timeline |
| Hansa Investment |
| BBGI SICAV SA |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Hansa Investment and BBGI SICAV Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hansa Investment and BBGI SICAV
The main advantage of trading using opposite Hansa Investment and BBGI SICAV positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hansa Investment position performs unexpectedly, BBGI SICAV 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 BBGI SICAV will offset losses from the drop in BBGI SICAV's long position.| Hansa Investment vs. CATCo Reinsurance Opportunities | Hansa Investment vs. Fair Oaks Income | Hansa Investment vs. Legal General Group | Hansa Investment vs. Intermediate Capital Group |
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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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
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