Correlation Between Kiriacoulis Mediterranean and Jumbo SA
Can any of the company-specific risk be diversified away by investing in both Kiriacoulis Mediterranean and Jumbo SA 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 Kiriacoulis Mediterranean and Jumbo SA into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Kiriacoulis Mediterranean Cruises and Jumbo SA, you can compare the effects of market volatilities on Kiriacoulis Mediterranean and Jumbo SA 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 Kiriacoulis Mediterranean with a short position of Jumbo SA. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kiriacoulis Mediterranean and Jumbo SA.
Diversification Opportunities for Kiriacoulis Mediterranean and Jumbo SA
-0.4 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Kiriacoulis and Jumbo is -0.4. Overlapping area represents the amount of risk that can be diversified away by holding Kiriacoulis Mediterranean Crui and Jumbo SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jumbo SA and Kiriacoulis Mediterranean 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 Kiriacoulis Mediterranean Cruises are associated (or correlated) with Jumbo SA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jumbo SA has no effect on the direction of Kiriacoulis Mediterranean i.e., Kiriacoulis Mediterranean and Jumbo SA go up and down completely randomly.
Pair Corralation between Kiriacoulis Mediterranean and Jumbo SA
Assuming the 90 days trading horizon Kiriacoulis Mediterranean Cruises is expected to under-perform the Jumbo SA. In addition to that, Kiriacoulis Mediterranean is 1.68 times more volatile than Jumbo SA. It trades about 0.0 of its total potential returns per unit of risk. Jumbo SA is currently generating about 0.06 per unit of volatility. If you would invest 1,598 in Jumbo SA on August 27, 2024 and sell it today you would earn a total of 868.00 from holding Jumbo SA or generate 54.32% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kiriacoulis Mediterranean Crui vs. Jumbo SA
Performance |
| Timeline |
| Kiriacoulis Mediterranean |
| Jumbo SA |
Kiriacoulis Mediterranean and Jumbo SA Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kiriacoulis Mediterranean and Jumbo SA
The main advantage of trading using opposite Kiriacoulis Mediterranean and Jumbo SA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kiriacoulis Mediterranean position performs unexpectedly, Jumbo SA 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 Jumbo SA will offset losses from the drop in Jumbo SA's long position.| Kiriacoulis Mediterranean vs. Autohellas SA | Kiriacoulis Mediterranean vs. BriQ Properties Real | Kiriacoulis Mediterranean vs. Thrace Plastics Holding | Kiriacoulis Mediterranean vs. Kri Kri Milk Industry |
| Jumbo SA vs. Autohellas SA | Jumbo SA vs. BriQ Properties Real | Jumbo SA vs. Thrace Plastics Holding | Jumbo SA vs. Kri Kri Milk Industry |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
Other Complementary Tools
| CEOs Directory Screen CEOs from public companies around the world | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
| Insider Screener Find insiders across different sectors to evaluate their impact on performance | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume |