Correlation Between N Leventeris and Intralot
Can any of the company-specific risk be diversified away by investing in both N Leventeris 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 N Leventeris and Intralot into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between N Leventeris SA and Intralot SA Integrated, you can compare the effects of market volatilities on N Leventeris 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 N Leventeris with a short position of Intralot. Check out your portfolio center. Please also check ongoing floating volatility patterns of N Leventeris and Intralot.
Diversification Opportunities for N Leventeris and Intralot
-0.3 | Correlation Coefficient |
Very good diversification
The 3 months correlation between LEBEP and Intralot is -0.3. Overlapping area represents the amount of risk that can be diversified away by holding N Leventeris SA 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 N Leventeris 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 N Leventeris SA 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 N Leventeris i.e., N Leventeris and Intralot go up and down completely randomly.
Pair Corralation between N Leventeris and Intralot
Assuming the 90 days trading horizon N Leventeris is expected to generate 1.27 times less return on investment than Intralot. In addition to that, N Leventeris is 2.41 times more volatile than Intralot SA Integrated. It trades about 0.02 of its total potential returns per unit of risk. Intralot SA Integrated is currently generating about 0.05 per unit of volatility. If you would invest 68.00 in Intralot SA Integrated on December 26, 2024 and sell it today you would earn a total of 41.00 from holding Intralot SA Integrated or generate 60.29% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
N Leventeris SA vs. Intralot SA Integrated
Performance |
| Timeline |
| N Leventeris SA |
| Intralot SA Integrated |
N Leventeris and Intralot Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with N Leventeris and Intralot
The main advantage of trading using opposite N Leventeris and Intralot positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if N Leventeris 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.| N Leventeris vs. Athens Medical CSA | N Leventeris vs. Attica Bank SA | N Leventeris vs. Elvalhalcor Hellenic Copper | N Leventeris vs. Aegean Airlines SA |
| 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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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