Correlation Between Coca Cola and ATHENE
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By analyzing existing cross correlation between The Coca Cola and ATHENE HLDG LTD, you can compare the effects of market volatilities on Coca Cola and ATHENE 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 Coca Cola with a short position of ATHENE. Check out your portfolio center. Please also check ongoing floating volatility patterns of Coca Cola and ATHENE.
Diversification Opportunities for Coca Cola and ATHENE
Pay attention - limited upside
The 3 months correlation between Coca and ATHENE is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding The Coca Cola and ATHENE HLDG LTD in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ATHENE HLDG LTD and Coca Cola 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 The Coca Cola are associated (or correlated) with ATHENE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ATHENE HLDG LTD has no effect on the direction of Coca Cola i.e., Coca Cola and ATHENE go up and down completely randomly.
Pair Corralation between Coca Cola and ATHENE
If you would invest 0.00 in ATHENE HLDG LTD on September 3, 2024 and sell it today you would earn a total of 0.00 from holding ATHENE HLDG LTD or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 1.56% |
| Values | Daily Returns |
The Coca Cola vs. ATHENE HLDG LTD
Performance |
| Timeline |
| Coca Cola |
| ATHENE HLDG LTD |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Coca Cola and ATHENE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Coca Cola and ATHENE
The main advantage of trading using opposite Coca Cola and ATHENE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Coca Cola position performs unexpectedly, ATHENE 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 ATHENE will offset losses from the drop in ATHENE's long position.| Coca Cola vs. Monster Beverage Corp | Coca Cola vs. Celsius Holdings | Coca Cola vs. Coca Cola Consolidated | Coca Cola vs. Keurig Dr Pepper |
| ATHENE vs. WPP PLC ADR | ATHENE vs. Marchex | ATHENE vs. AmTrust Financial Services | ATHENE vs. Dolphin Entertainment |
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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