Correlation Between International Consolidated and Atento SA
Can any of the company-specific risk be diversified away by investing in both International Consolidated and Atento SA 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 International Consolidated and Atento SA into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between International Consolidated Companies and Atento SA, you can compare the effects of market volatilities on International Consolidated and Atento SA 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 International Consolidated with a short position of Atento SA. Check out your portfolio center. Please also check ongoing floating volatility patterns of International Consolidated and Atento SA.
Diversification Opportunities for International Consolidated and Atento SA
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between International and Atento is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding International Consolidated Com and Atento SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Atento SA and International Consolidated 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 International Consolidated Companies are associated (or correlated) with Atento SA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Atento SA has no effect on the direction of International Consolidated i.e., International Consolidated and Atento SA go up and down completely randomly.
Pair Corralation between International Consolidated and Atento SA
If you would invest 3.00 in International Consolidated Companies on October 24, 2024 and sell it today you would earn a total of 2.25 from holding International Consolidated Companies or generate 75.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 5.56% |
| Values | Daily Returns |
International Consolidated Com vs. Atento SA
Performance |
| Timeline |
| International Consolidated |
| Atento SA |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
International Consolidated and Atento SA Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with International Consolidated and Atento SA
The main advantage of trading using opposite International Consolidated and Atento SA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if International Consolidated position performs unexpectedly, Atento SA 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 Atento SA will offset losses from the drop in Atento SA's long position.| International Consolidated vs. Frontera Group | International Consolidated vs. All American Pet | International Consolidated vs. XCPCNL Business Services | International Consolidated vs. Aramark Holdings |
| Atento SA vs. SMX Public Limited | Atento SA vs. System1 | Atento SA vs. Lichen China Limited | Atento SA vs. Eastman Kodak Co |
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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
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