Correlation Between Intracom Constructions and Logismos Information
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By analyzing existing cross correlation between Intracom Constructions Societe and Logismos Information Systems, you can compare the effects of market volatilities on Intracom Constructions 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 Intracom Constructions with a short position of Logismos Information. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intracom Constructions and Logismos Information.
Diversification Opportunities for Intracom Constructions and Logismos Information
0.54 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Intracom and Logismos is 0.54. Overlapping area represents the amount of risk that can be diversified away by holding Intracom Constructions Societe and Logismos Information Systems in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Logismos Information and Intracom Constructions 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 Intracom Constructions Societe 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 Intracom Constructions i.e., Intracom Constructions and Logismos Information go up and down completely randomly.
Pair Corralation between Intracom Constructions and Logismos Information
Assuming the 90 days trading horizon Intracom Constructions Societe is expected to generate 0.99 times more return on investment than Logismos Information. However, Intracom Constructions Societe is 1.01 times less risky than Logismos Information. It trades about -0.06 of its potential returns per unit of risk. Logismos Information Systems is currently generating about -0.09 per unit of risk. If you would invest 539.00 in Intracom Constructions Societe on September 3, 2024 and sell it today you would lose (55.00) from holding Intracom Constructions Societe or give up 10.2% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 99.32% |
| Values | Daily Returns |
Intracom Constructions Societe vs. Logismos Information Systems
Performance |
| Timeline |
| Intracom Constructions |
| Logismos Information |
Intracom Constructions and Logismos Information Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Intracom Constructions and Logismos Information
The main advantage of trading using opposite Intracom Constructions and Logismos Information positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intracom Constructions 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.| Intracom Constructions vs. Mytilineos SA | Intracom Constructions vs. Intracom Holdings SA | Intracom Constructions vs. Ellaktor SA | Intracom Constructions vs. GEK TERNA Holdings |
| Logismos Information vs. Space Hellas SA | Logismos Information vs. Ilyda SA | Logismos Information vs. National Bank of | Logismos Information vs. EL D Mouzakis |
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 Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
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