Correlation Between Logismos Information and Bank of Greece
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By analyzing existing cross correlation between Logismos Information Systems and Bank of Greece, you can compare the effects of market volatilities on Logismos Information and Bank of Greece 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 Bank of Greece. Check out your portfolio center. Please also check ongoing floating volatility patterns of Logismos Information and Bank of Greece.
Diversification Opportunities for Logismos Information and Bank of Greece
0.86 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Logismos and Bank is 0.86. Overlapping area represents the amount of risk that can be diversified away by holding Logismos Information Systems and Bank of Greece in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bank of Greece 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 Bank of Greece. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bank of Greece has no effect on the direction of Logismos Information i.e., Logismos Information and Bank of Greece go up and down completely randomly.
Pair Corralation between Logismos Information and Bank of Greece
Assuming the 90 days trading horizon Logismos Information Systems is expected to generate 1.36 times more return on investment than Bank of Greece. However, Logismos Information is 1.36 times more volatile than Bank of Greece. It trades about 0.35 of its potential returns per unit of risk. Bank of Greece is currently generating about -0.27 per unit of risk. If you would invest 152.00 in Logismos Information Systems on October 24, 2024 and sell it today you would earn a total of 11.00 from holding Logismos Information Systems or generate 7.24% 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. Bank of Greece
Performance |
| Timeline |
| Logismos Information |
| Bank of Greece |
Logismos Information and Bank of Greece Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Logismos Information and Bank of Greece
The main advantage of trading using opposite Logismos Information and Bank of Greece positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Logismos Information position performs unexpectedly, Bank of Greece 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 Bank of Greece will offset losses from the drop in Bank of Greece's long position.| Logismos Information vs. Bank of Greece | Logismos Information vs. Interlife General Insurance | Logismos Information vs. Profile Systems Software | Logismos Information vs. Marfin Investment Group |
| Bank of Greece vs. CPI Computer Peripherals | Bank of Greece vs. Hellenic Telecommunications Organization | Bank of Greece vs. Technical Olympic SA | Bank of Greece vs. Elvalhalcor Hellenic Copper |
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 Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
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