Correlation Between N Leventeris and Intertech
Can any of the company-specific risk be diversified away by investing in both N Leventeris and Intertech 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 Intertech 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 Intertech SA Inter, you can compare the effects of market volatilities on N Leventeris and Intertech 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 Intertech. Check out your portfolio center. Please also check ongoing floating volatility patterns of N Leventeris and Intertech.
Diversification Opportunities for N Leventeris and Intertech
-0.13 | Correlation Coefficient |
Good diversification
The 3 months correlation between LEBEP and Intertech is -0.13. Overlapping area represents the amount of risk that can be diversified away by holding N Leventeris SA and Intertech SA Inter in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Intertech SA Inter 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 Intertech. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Intertech SA Inter has no effect on the direction of N Leventeris i.e., N Leventeris and Intertech go up and down completely randomly.
Pair Corralation between N Leventeris and Intertech
Assuming the 90 days trading horizon N Leventeris SA is expected to generate 2.39 times more return on investment than Intertech. However, N Leventeris is 2.39 times more volatile than Intertech SA Inter. It trades about 0.0 of its potential returns per unit of risk. Intertech SA Inter is currently generating about -0.02 per unit of risk. If you would invest 31.00 in N Leventeris SA on December 27, 2024 and sell it today you would lose (10.00) from holding N Leventeris SA or give up 32.26% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
N Leventeris SA vs. Intertech SA Inter
Performance |
| Timeline |
| N Leventeris SA |
| Intertech SA Inter |
N Leventeris and Intertech Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with N Leventeris and Intertech
The main advantage of trading using opposite N Leventeris and Intertech positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if N Leventeris position performs unexpectedly, Intertech 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 Intertech will offset losses from the drop in Intertech's long position.| N Leventeris vs. Logismos Information Systems | N Leventeris vs. Athens Medical CSA | N Leventeris vs. As Commercial Industrial | N Leventeris vs. Marfin Investment Group |
| Intertech vs. Unibios Holdings SA | Intertech vs. Intracom Holdings SA | Intertech vs. Ideal Group SA | Intertech vs. Public Power |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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