Correlation Between Kri Kri and Terna Energy
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By analyzing existing cross correlation between Kri Kri Milk Industry and Terna Energy Societe, you can compare the effects of market volatilities on Kri Kri and Terna Energy 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 Kri Kri with a short position of Terna Energy. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kri Kri and Terna Energy.
Diversification Opportunities for Kri Kri and Terna Energy
0.91 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Kri and Terna is 0.91. Overlapping area represents the amount of risk that can be diversified away by holding Kri Kri Milk Industry and Terna Energy Societe in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Terna Energy Societe and Kri Kri 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 Kri Kri Milk Industry are associated (or correlated) with Terna Energy. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Terna Energy Societe has no effect on the direction of Kri Kri i.e., Kri Kri and Terna Energy go up and down completely randomly.
Pair Corralation between Kri Kri and Terna Energy
Assuming the 90 days trading horizon Kri Kri Milk Industry is expected to generate 11.02 times more return on investment than Terna Energy. However, Kri Kri is 11.02 times more volatile than Terna Energy Societe. It trades about 0.08 of its potential returns per unit of risk. Terna Energy Societe is currently generating about 0.21 per unit of risk. If you would invest 1,385 in Kri Kri Milk Industry on August 31, 2024 and sell it today you would earn a total of 50.00 from holding Kri Kri Milk Industry or generate 3.61% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kri Kri Milk Industry vs. Terna Energy Societe
Performance |
| Timeline |
| Kri Kri Milk |
| Terna Energy Societe |
Kri Kri and Terna Energy Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kri Kri and Terna Energy
The main advantage of trading using opposite Kri Kri and Terna Energy positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kri Kri position performs unexpectedly, Terna Energy 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 Terna Energy will offset losses from the drop in Terna Energy's long position.| Kri Kri vs. Motor Oil Corinth | Kri Kri vs. Mytilineos SA | Kri Kri vs. Gr Sarantis SA | Kri Kri vs. Aegean Airlines SA |
| Terna Energy vs. CPI Computer Peripherals | Terna Energy vs. Profile Systems Software | Terna Energy vs. National Bank of | Terna Energy vs. Hellenic Telecommunications Organization |
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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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