Correlation Between Intralot and Eurobank Ergasias
Can any of the company-specific risk be diversified away by investing in both Intralot and Eurobank Ergasias 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 Intralot and Eurobank Ergasias into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Intralot SA Integrated and Eurobank Ergasias Services, you can compare the effects of market volatilities on Intralot and Eurobank Ergasias 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 Intralot with a short position of Eurobank Ergasias. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intralot and Eurobank Ergasias.
Diversification Opportunities for Intralot and Eurobank Ergasias
0.86 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Intralot and Eurobank is 0.86. Overlapping area represents the amount of risk that can be diversified away by holding Intralot SA Integrated and Eurobank Ergasias Services in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Eurobank Ergasias and Intralot 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 Intralot SA Integrated are associated (or correlated) with Eurobank Ergasias. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Eurobank Ergasias has no effect on the direction of Intralot i.e., Intralot and Eurobank Ergasias go up and down completely randomly.
Pair Corralation between Intralot and Eurobank Ergasias
Assuming the 90 days trading horizon Intralot is expected to generate 3.68 times less return on investment than Eurobank Ergasias. But when comparing it to its historical volatility, Intralot SA Integrated is 1.32 times less risky than Eurobank Ergasias. It trades about 0.04 of its potential returns per unit of risk. Eurobank Ergasias Services is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest 233.00 in Eurobank Ergasias Services on November 5, 2024 and sell it today you would earn a total of 9.00 from holding Eurobank Ergasias Services or generate 3.86% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Intralot SA Integrated vs. Eurobank Ergasias Services
Performance |
| Timeline |
| Intralot SA Integrated |
| Eurobank Ergasias |
Intralot and Eurobank Ergasias Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Intralot and Eurobank Ergasias
The main advantage of trading using opposite Intralot and Eurobank Ergasias positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intralot position performs unexpectedly, Eurobank Ergasias 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 Eurobank Ergasias will offset losses from the drop in Eurobank Ergasias' long position.| Intralot vs. Greek Organization of | Intralot vs. Public Power | Intralot vs. Mytilineos SA | Intralot vs. Hellenic Telecommunications Organization |
| Eurobank Ergasias vs. Alpha Services and | Eurobank Ergasias vs. Piraeus Financial Holdings | Eurobank Ergasias vs. National Bank of | Eurobank Ergasias vs. Greek Organization of |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
Other Complementary Tools
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like | |
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios | |
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings | |
| Content Syndication Quickly integrate customizable finance content to your own investment portal | |
| Bonds Directory Find actively traded corporate debentures issued by US companies |