Correlation Between Lampsa Hellenic and Intralot
Can any of the company-specific risk be diversified away by investing in both Lampsa Hellenic and Intralot 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 Lampsa Hellenic and Intralot into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Lampsa Hellenic Hotels and Intralot SA Integrated, you can compare the effects of market volatilities on Lampsa Hellenic and Intralot 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 Lampsa Hellenic with a short position of Intralot. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lampsa Hellenic and Intralot.
Diversification Opportunities for Lampsa Hellenic and Intralot
-0.3 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Lampsa and Intralot is -0.3. Overlapping area represents the amount of risk that can be diversified away by holding Lampsa Hellenic Hotels and Intralot SA Integrated in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Intralot SA Integrated and Lampsa Hellenic 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 Lampsa Hellenic Hotels are associated (or correlated) with Intralot. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Intralot SA Integrated has no effect on the direction of Lampsa Hellenic i.e., Lampsa Hellenic and Intralot go up and down completely randomly.
Pair Corralation between Lampsa Hellenic and Intralot
Assuming the 90 days trading horizon Lampsa Hellenic is expected to generate 551.0 times less return on investment than Intralot. But when comparing it to its historical volatility, Lampsa Hellenic Hotels is 7.13 times less risky than Intralot. It trades about 0.0 of its potential returns per unit of risk. Intralot SA Integrated is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 105.00 in Intralot SA Integrated on November 5, 2024 and sell it today you would earn a total of 1.00 from holding Intralot SA Integrated or generate 0.95% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.0% |
| Values | Daily Returns |
Lampsa Hellenic Hotels vs. Intralot SA Integrated
Performance |
| Timeline |
| Lampsa Hellenic Hotels |
| Intralot SA Integrated |
Lampsa Hellenic and Intralot Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lampsa Hellenic and Intralot
The main advantage of trading using opposite Lampsa Hellenic and Intralot positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lampsa Hellenic position performs unexpectedly, Intralot 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 Intralot will offset losses from the drop in Intralot's long position.| Lampsa Hellenic vs. Intertech SA Inter | Lampsa Hellenic vs. Profile Systems Software | Lampsa Hellenic vs. Athens Medical CSA | Lampsa Hellenic vs. Interlife General Insurance |
| Intralot vs. Greek Organization of | Intralot vs. Public Power | Intralot vs. Mytilineos SA | Intralot 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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
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