Correlation Between Intracom Holdings and Ellaktor
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By analyzing existing cross correlation between Intracom Holdings SA and Ellaktor SA, you can compare the effects of market volatilities on Intracom Holdings and Ellaktor 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 Holdings with a short position of Ellaktor. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intracom Holdings and Ellaktor.
Diversification Opportunities for Intracom Holdings and Ellaktor
0.97 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Intracom and Ellaktor is 0.97. Overlapping area represents the amount of risk that can be diversified away by holding Intracom Holdings SA and Ellaktor SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ellaktor SA and Intracom Holdings 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 Holdings SA are associated (or correlated) with Ellaktor. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ellaktor SA has no effect on the direction of Intracom Holdings i.e., Intracom Holdings and Ellaktor go up and down completely randomly.
Pair Corralation between Intracom Holdings and Ellaktor
Assuming the 90 days trading horizon Intracom Holdings SA is expected to generate 0.99 times more return on investment than Ellaktor. However, Intracom Holdings SA is 1.02 times less risky than Ellaktor. It trades about -0.15 of its potential returns per unit of risk. Ellaktor SA is currently generating about -0.19 per unit of risk. If you would invest 283.00 in Intracom Holdings SA on August 25, 2024 and sell it today you would lose (18.00) from holding Intracom Holdings SA or give up 6.36% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 95.45% |
| Values | Daily Returns |
Intracom Holdings SA vs. Ellaktor SA
Performance |
| Timeline |
| Intracom Holdings |
| Ellaktor SA |
Intracom Holdings and Ellaktor Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Intracom Holdings and Ellaktor
The main advantage of trading using opposite Intracom Holdings and Ellaktor positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intracom Holdings position performs unexpectedly, Ellaktor 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 Ellaktor will offset losses from the drop in Ellaktor's long position.| Intracom Holdings vs. Intralot SA Integrated | Intracom Holdings vs. Mytilineos SA | Intracom Holdings vs. Public Power | Intracom Holdings vs. Hellenic Telecommunications Organization |
| Ellaktor vs. Mytilineos SA | Ellaktor vs. GEK TERNA Holdings | Ellaktor vs. Public Power | Ellaktor vs. Motor Oil Corinth |
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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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