Correlation Between Ilyda SA and Logismos Information
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By analyzing existing cross correlation between Ilyda SA and Logismos Information Systems, you can compare the effects of market volatilities on Ilyda SA and Logismos Information 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 Ilyda SA with a short position of Logismos Information. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ilyda SA and Logismos Information.
Diversification Opportunities for Ilyda SA and Logismos Information
-0.4 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Ilyda and Logismos is -0.4. Overlapping area represents the amount of risk that can be diversified away by holding Ilyda SA and Logismos Information Systems in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Logismos Information and Ilyda SA 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 Ilyda SA are associated (or correlated) with Logismos Information. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Logismos Information has no effect on the direction of Ilyda SA i.e., Ilyda SA and Logismos Information go up and down completely randomly.
Pair Corralation between Ilyda SA and Logismos Information
Assuming the 90 days trading horizon Ilyda SA is expected to generate 1.97 times more return on investment than Logismos Information. However, Ilyda SA is 1.97 times more volatile than Logismos Information Systems. It trades about 0.04 of its potential returns per unit of risk. Logismos Information Systems is currently generating about 0.06 per unit of risk. If you would invest 130.00 in Ilyda SA on August 27, 2024 and sell it today you would earn a total of 44.00 from holding Ilyda SA or generate 33.85% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 99.73% |
| Values | Daily Returns |
Ilyda SA vs. Logismos Information Systems
Performance |
| Timeline |
| Ilyda SA |
| Logismos Information |
Ilyda SA and Logismos Information Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ilyda SA and Logismos Information
The main advantage of trading using opposite Ilyda SA and Logismos Information positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ilyda SA position performs unexpectedly, Logismos Information 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 Logismos Information will offset losses from the drop in Logismos Information's long position.| Ilyda SA vs. Athens Water Supply | Ilyda SA vs. Intracom Holdings SA | Ilyda SA vs. Admie Holding SA | Ilyda SA vs. Hellenic Petroleum SA |
| Logismos Information vs. National Bank of | Logismos Information vs. EL D Mouzakis | Logismos Information vs. Lampsa Hellenic Hotels | Logismos Information vs. Eurobank Ergasias Services |
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 Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
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