Correlation Between KTM Industries and AGRANA Beteiligungs
Can any of the company-specific risk be diversified away by investing in both KTM Industries and AGRANA Beteiligungs 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 KTM Industries and AGRANA Beteiligungs into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between KTM Industries AG and AGRANA Beteiligungs Aktiengesellschaft, you can compare the effects of market volatilities on KTM Industries and AGRANA Beteiligungs 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 KTM Industries with a short position of AGRANA Beteiligungs. Check out your portfolio center. Please also check ongoing floating volatility patterns of KTM Industries and AGRANA Beteiligungs.
Diversification Opportunities for KTM Industries and AGRANA Beteiligungs
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between KTM and AGRANA is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding KTM Industries AG and AGRANA Beteiligungs Aktiengese in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AGRANA Beteiligungs and KTM Industries 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 KTM Industries AG are associated (or correlated) with AGRANA Beteiligungs. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AGRANA Beteiligungs has no effect on the direction of KTM Industries i.e., KTM Industries and AGRANA Beteiligungs go up and down completely randomly.
Pair Corralation between KTM Industries and AGRANA Beteiligungs
If you would invest 1,065 in AGRANA Beteiligungs Aktiengesellschaft on October 24, 2024 and sell it today you would earn a total of 20.00 from holding AGRANA Beteiligungs Aktiengesellschaft or generate 1.88% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
KTM Industries AG vs. AGRANA Beteiligungs Aktiengese
Performance |
| Timeline |
| KTM Industries AG |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| AGRANA Beteiligungs |
KTM Industries and AGRANA Beteiligungs Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with KTM Industries and AGRANA Beteiligungs
The main advantage of trading using opposite KTM Industries and AGRANA Beteiligungs positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KTM Industries position performs unexpectedly, AGRANA Beteiligungs 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 AGRANA Beteiligungs will offset losses from the drop in AGRANA Beteiligungs' long position.| KTM Industries vs. UNIQA Insurance Group | KTM Industries vs. Erste Group Bank | KTM Industries vs. Wiener Privatbank SE | KTM Industries vs. Addiko Bank AG |
| AGRANA Beteiligungs vs. Oesterr Post AG | AGRANA Beteiligungs vs. Andritz AG | AGRANA Beteiligungs vs. EVN AG | AGRANA Beteiligungs vs. Wienerberger AG |
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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
Other Complementary Tools
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| Correlation Analysis Reduce portfolio risk simply by holding instruments which are not perfectly correlated | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules |