Correlation Between SPORT LISBOA and Hugo Boss
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By analyzing existing cross correlation between SPORT LISBOA E and Hugo Boss AG, you can compare the effects of market volatilities on SPORT LISBOA and Hugo Boss 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 SPORT LISBOA with a short position of Hugo Boss. Check out your portfolio center. Please also check ongoing floating volatility patterns of SPORT LISBOA and Hugo Boss.
Diversification Opportunities for SPORT LISBOA and Hugo Boss
-0.65 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between SPORT and Hugo is -0.65. Overlapping area represents the amount of risk that can be diversified away by holding SPORT LISBOA E and Hugo Boss AG in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hugo Boss AG and SPORT LISBOA 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 SPORT LISBOA E are associated (or correlated) with Hugo Boss. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hugo Boss AG has no effect on the direction of SPORT LISBOA i.e., SPORT LISBOA and Hugo Boss go up and down completely randomly.
Pair Corralation between SPORT LISBOA and Hugo Boss
Assuming the 90 days horizon SPORT LISBOA E is expected to under-perform the Hugo Boss. In addition to that, SPORT LISBOA is 1.05 times more volatile than Hugo Boss AG. It trades about -0.13 of its total potential returns per unit of risk. Hugo Boss AG is currently generating about 0.07 per unit of volatility. If you would invest 4,405 in Hugo Boss AG on November 5, 2024 and sell it today you would earn a total of 118.00 from holding Hugo Boss AG or generate 2.68% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
SPORT LISBOA E vs. Hugo Boss AG
Performance |
| Timeline |
| SPORT LISBOA E |
| Hugo Boss AG |
SPORT LISBOA and Hugo Boss Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SPORT LISBOA and Hugo Boss
The main advantage of trading using opposite SPORT LISBOA and Hugo Boss positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SPORT LISBOA position performs unexpectedly, Hugo Boss 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 Hugo Boss will offset losses from the drop in Hugo Boss' long position.| SPORT LISBOA vs. PARKEN Sport Entertainment | SPORT LISBOA vs. PENN Entertainment | SPORT LISBOA vs. Townsquare Media | SPORT LISBOA vs. Transport International Holdings |
| Hugo Boss vs. COSMOSTEEL HLDGS | Hugo Boss vs. Tianjin Capital Environmental | Hugo Boss vs. Daido Steel Co | Hugo Boss vs. Summit Hotel Properties |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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