Correlation Between Logismos Information and As Commercial
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By analyzing existing cross correlation between Logismos Information Systems and As Commercial Industrial, you can compare the effects of market volatilities on Logismos Information and As Commercial 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 Logismos Information with a short position of As Commercial. Check out your portfolio center. Please also check ongoing floating volatility patterns of Logismos Information and As Commercial.
Diversification Opportunities for Logismos Information and As Commercial
0.82 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Logismos and ASCO is 0.82. Overlapping area represents the amount of risk that can be diversified away by holding Logismos Information Systems and As Commercial Industrial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on As Commercial Industrial and Logismos Information 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 Logismos Information Systems are associated (or correlated) with As Commercial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of As Commercial Industrial has no effect on the direction of Logismos Information i.e., Logismos Information and As Commercial go up and down completely randomly.
Pair Corralation between Logismos Information and As Commercial
Assuming the 90 days trading horizon Logismos Information is expected to generate 1.04 times less return on investment than As Commercial. But when comparing it to its historical volatility, Logismos Information Systems is 1.03 times less risky than As Commercial. It trades about 0.05 of its potential returns per unit of risk. As Commercial Industrial is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest 193.00 in As Commercial Industrial on August 30, 2024 and sell it today you would earn a total of 72.00 from holding As Commercial Industrial or generate 37.31% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Logismos Information Systems vs. As Commercial Industrial
Performance |
| Timeline |
| Logismos Information |
| As Commercial Industrial |
Logismos Information and As Commercial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Logismos Information and As Commercial
The main advantage of trading using opposite Logismos Information and As Commercial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Logismos Information position performs unexpectedly, As Commercial 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 As Commercial will offset losses from the drop in As Commercial's long position.| Logismos Information vs. Piraeus Port Authority | Logismos Information vs. VIS Containers Manufacturing | Logismos Information vs. Interlife General Insurance | Logismos Information vs. Bank of Greece |
| As Commercial vs. Autohellas SA | As Commercial vs. Thrace Plastics Holding | As Commercial vs. Kri Kri Milk Industry | As Commercial vs. Aegean Airlines SA |
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 Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
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