Correlation Between Igoria Trade and Dino Polska
Can any of the company-specific risk be diversified away by investing in both Igoria Trade and Dino Polska 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 Igoria Trade and Dino Polska into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Igoria Trade SA and Dino Polska SA, you can compare the effects of market volatilities on Igoria Trade and Dino Polska 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 Igoria Trade with a short position of Dino Polska. Check out your portfolio center. Please also check ongoing floating volatility patterns of Igoria Trade and Dino Polska.
Diversification Opportunities for Igoria Trade and Dino Polska
-0.5 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Igoria and Dino is -0.5. Overlapping area represents the amount of risk that can be diversified away by holding Igoria Trade SA and Dino Polska SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dino Polska SA and Igoria Trade 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 Igoria Trade SA are associated (or correlated) with Dino Polska. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dino Polska SA has no effect on the direction of Igoria Trade i.e., Igoria Trade and Dino Polska go up and down completely randomly.
Pair Corralation between Igoria Trade and Dino Polska
Assuming the 90 days trading horizon Igoria Trade SA is expected to generate 1.36 times more return on investment than Dino Polska. However, Igoria Trade is 1.36 times more volatile than Dino Polska SA. It trades about 0.15 of its potential returns per unit of risk. Dino Polska SA is currently generating about -0.05 per unit of risk. If you would invest 23.00 in Igoria Trade SA on October 16, 2024 and sell it today you would earn a total of 1.00 from holding Igoria Trade SA or generate 4.35% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 93.75% |
| Values | Daily Returns |
Igoria Trade SA vs. Dino Polska SA
Performance |
| Timeline |
| Igoria Trade SA |
| Dino Polska SA |
Igoria Trade and Dino Polska Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Igoria Trade and Dino Polska
The main advantage of trading using opposite Igoria Trade and Dino Polska positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Igoria Trade position performs unexpectedly, Dino Polska 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 Dino Polska will offset losses from the drop in Dino Polska's long position.| Igoria Trade vs. Marie Brizard Wine | Igoria Trade vs. MCI Management SA | Igoria Trade vs. Gaming Factory SA | Igoria Trade vs. Gamedust SA |
| Dino Polska vs. Bank Millennium SA | Dino Polska vs. Medicofarma Biotech SA | Dino Polska vs. Creotech Instruments SA | Dino Polska vs. Skyline Investment SA |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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