Correlation Between CMG Cleantech and SI Participations
Can any of the company-specific risk be diversified away by investing in both CMG Cleantech and SI Participations at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining CMG Cleantech and SI Participations into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between CMG Cleantech SA and SI Participations SCA, you can compare the effects of market volatilities on CMG Cleantech and SI Participations 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 CMG Cleantech with a short position of SI Participations. Check out your portfolio center. Please also check ongoing floating volatility patterns of CMG Cleantech and SI Participations.
Diversification Opportunities for CMG Cleantech and SI Participations
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between CMG and ALSIP is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding CMG Cleantech SA and SI Participations SCA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SI Participations SCA and CMG Cleantech 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 CMG Cleantech SA are associated (or correlated) with SI Participations. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SI Participations SCA has no effect on the direction of CMG Cleantech i.e., CMG Cleantech and SI Participations go up and down completely randomly.
Pair Corralation between CMG Cleantech and SI Participations
If you would invest 125.00 in CMG Cleantech SA on September 14, 2024 and sell it today you would earn a total of 3.00 from holding CMG Cleantech SA or generate 2.4% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
CMG Cleantech SA vs. SI Participations SCA
Performance |
| Timeline |
| CMG Cleantech SA |
| SI Participations SCA |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
CMG Cleantech and SI Participations Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CMG Cleantech and SI Participations
The main advantage of trading using opposite CMG Cleantech and SI Participations positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CMG Cleantech position performs unexpectedly, SI Participations 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 SI Participations will offset losses from the drop in SI Participations' long position.| CMG Cleantech vs. EPC Groupe | CMG Cleantech vs. Groupe Sfpi | CMG Cleantech vs. Baikowski SASU | CMG Cleantech vs. NSE SA |
| SI Participations vs. Bilendi | SI Participations vs. Gaztransport Technigaz SAS | SI Participations vs. Mauna Kea Technologies | SI Participations vs. CMG Cleantech 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 Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
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