Correlation Between Logismos Information and Optima Bank
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By analyzing existing cross correlation between Logismos Information Systems and Optima bank SA, you can compare the effects of market volatilities on Logismos Information and Optima Bank 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 Optima Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of Logismos Information and Optima Bank.
Diversification Opportunities for Logismos Information and Optima Bank
0.08 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Logismos and Optima is 0.08. Overlapping area represents the amount of risk that can be diversified away by holding Logismos Information Systems and Optima bank SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Optima bank SA 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 Optima Bank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Optima bank SA has no effect on the direction of Logismos Information i.e., Logismos Information and Optima Bank go up and down completely randomly.
Pair Corralation between Logismos Information and Optima Bank
Assuming the 90 days trading horizon Logismos Information is expected to generate 6.05 times less return on investment than Optima Bank. But when comparing it to its historical volatility, Logismos Information Systems is 1.07 times less risky than Optima Bank. It trades about 0.03 of its potential returns per unit of risk. Optima bank SA is currently generating about 0.15 of returns per unit of risk over similar time horizon. If you would invest 754.00 in Optima bank SA on August 27, 2024 and sell it today you would earn a total of 518.00 from holding Optima bank SA or generate 68.7% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 99.59% |
| Values | Daily Returns |
Logismos Information Systems vs. Optima bank SA
Performance |
| Timeline |
| Logismos Information |
| Optima bank SA |
Logismos Information and Optima Bank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Logismos Information and Optima Bank
The main advantage of trading using opposite Logismos Information and Optima Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Logismos Information position performs unexpectedly, Optima Bank 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 Optima Bank will offset losses from the drop in Optima Bank's long position.| Logismos Information vs. National Bank of | Logismos Information vs. EL D Mouzakis | Logismos Information vs. Lampsa Hellenic Hotels | Logismos Information vs. Eurobank Ergasias Services |
| Optima Bank vs. Coca Cola HBC AG | Optima Bank vs. Hellenic Telecommunications Organization | Optima Bank vs. Greek Organization of | Optima Bank vs. Eurobank Ergasias Services |
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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
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