Correlation Between High Coast and Cint Group
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By analyzing existing cross correlation between High Coast Distillery and Cint Group AB, you can compare the effects of market volatilities on High Coast and Cint Group 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 High Coast with a short position of Cint Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of High Coast and Cint Group.
Diversification Opportunities for High Coast and Cint Group
0.75 | Correlation Coefficient |
Poor diversification
The 3 months correlation between High and Cint is 0.75. Overlapping area represents the amount of risk that can be diversified away by holding High Coast Distillery and Cint Group AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cint Group AB and High Coast 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 High Coast Distillery are associated (or correlated) with Cint Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cint Group AB has no effect on the direction of High Coast i.e., High Coast and Cint Group go up and down completely randomly.
Pair Corralation between High Coast and Cint Group
Assuming the 90 days trading horizon High Coast Distillery is expected to generate 1.34 times more return on investment than Cint Group. However, High Coast is 1.34 times more volatile than Cint Group AB. It trades about 0.07 of its potential returns per unit of risk. Cint Group AB is currently generating about -0.03 per unit of risk. If you would invest 4,280 in High Coast Distillery on August 30, 2024 and sell it today you would earn a total of 200.00 from holding High Coast Distillery or generate 4.67% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
High Coast Distillery vs. Cint Group AB
Performance |
| Timeline |
| High Coast Distillery |
| Cint Group AB |
High Coast and Cint Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with High Coast and Cint Group
The main advantage of trading using opposite High Coast and Cint Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if High Coast position performs unexpectedly, Cint Group 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 Cint Group will offset losses from the drop in Cint Group's long position.| High Coast vs. AcadeMedia AB | High Coast vs. Avanza Bank Holding | High Coast vs. Flexion Mobile PLC | High Coast vs. Maven Wireless Sweden |
| Cint Group vs. Sinch AB | Cint Group vs. Stillfront Group AB | Cint Group vs. Truecaller AB | Cint Group vs. BICO Group AB |
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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
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