Correlation Between FNP Technologies and Credit Agricole
Can any of the company-specific risk be diversified away by investing in both FNP Technologies and Credit Agricole 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 FNP Technologies and Credit Agricole into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between FNP Technologies SA and Credit Agricole SA, you can compare the effects of market volatilities on FNP Technologies and Credit Agricole 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 FNP Technologies with a short position of Credit Agricole. Check out your portfolio center. Please also check ongoing floating volatility patterns of FNP Technologies and Credit Agricole.
Diversification Opportunities for FNP Technologies and Credit Agricole
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between FNP and Credit is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding FNP Technologies SA and Credit Agricole SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Credit Agricole SA and FNP Technologies 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 FNP Technologies SA are associated (or correlated) with Credit Agricole. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Credit Agricole SA has no effect on the direction of FNP Technologies i.e., FNP Technologies and Credit Agricole go up and down completely randomly.
Pair Corralation between FNP Technologies and Credit Agricole
If you would invest 1,429 in Credit Agricole SA on November 28, 2024 and sell it today you would earn a total of 144.00 from holding Credit Agricole SA or generate 10.08% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
FNP Technologies SA vs. Credit Agricole SA
Performance |
| Timeline |
| FNP Technologies |
| Credit Agricole SA |
FNP Technologies and Credit Agricole Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with FNP Technologies and Credit Agricole
The main advantage of trading using opposite FNP Technologies and Credit Agricole positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FNP Technologies position performs unexpectedly, Credit Agricole 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 Credit Agricole will offset losses from the drop in Credit Agricole's long position.| FNP Technologies vs. Fill Up Media | FNP Technologies vs. Innelec Multimedia | FNP Technologies vs. Eutelsat Communications SA | FNP Technologies vs. Diagnostic Medical Systems |
| Credit Agricole vs. Societe Generale SA | Credit Agricole vs. BNP Paribas SA | Credit Agricole vs. AXA SA | Credit Agricole vs. Orange 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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
Other Complementary Tools
| Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing | |
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings | |
| Stocks Directory Find actively traded stocks across global markets | |
| Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges |