Correlation Between Logismos Information and Performance Technologies
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By analyzing existing cross correlation between Logismos Information Systems and Performance Technologies SA, you can compare the effects of market volatilities on Logismos Information and Performance Technologies 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 Performance Technologies. Check out your portfolio center. Please also check ongoing floating volatility patterns of Logismos Information and Performance Technologies.
Diversification Opportunities for Logismos Information and Performance Technologies
0.82 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Logismos and Performance is 0.82. Overlapping area represents the amount of risk that can be diversified away by holding Logismos Information Systems and Performance Technologies SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Performance Technologies 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 Performance Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Performance Technologies has no effect on the direction of Logismos Information i.e., Logismos Information and Performance Technologies go up and down completely randomly.
Pair Corralation between Logismos Information and Performance Technologies
Assuming the 90 days trading horizon Logismos Information Systems is expected to generate 0.67 times more return on investment than Performance Technologies. However, Logismos Information Systems is 1.5 times less risky than Performance Technologies. It trades about 0.05 of its potential returns per unit of risk. Performance Technologies SA is currently generating about 0.03 per unit of risk. If you would invest 98.00 in Logismos Information Systems on August 31, 2024 and sell it today you would earn a total of 27.00 from holding Logismos Information Systems or generate 27.55% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 99.73% |
| Values | Daily Returns |
Logismos Information Systems vs. Performance Technologies SA
Performance |
| Timeline |
| Logismos Information |
| Performance Technologies |
Logismos Information and Performance Technologies Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Logismos Information and Performance Technologies
The main advantage of trading using opposite Logismos Information and Performance Technologies positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Logismos Information position performs unexpectedly, Performance Technologies 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 Performance Technologies will offset losses from the drop in Performance Technologies' long position.| Logismos Information vs. National Bank of | Logismos Information vs. EL D Mouzakis | Logismos Information vs. Lampsa Hellenic Hotels | Logismos Information vs. Austriacard Holdings AG |
| Performance Technologies vs. Quest Holdings SA | Performance Technologies vs. CPI Computer Peripherals | Performance Technologies vs. National Bank of | Performance Technologies vs. EL D Mouzakis |
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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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