Correlation Between Mobilezone and Ascom Holding
Can any of the company-specific risk be diversified away by investing in both Mobilezone and Ascom Holding 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 Mobilezone and Ascom Holding into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between mobilezone ag and Ascom Holding AG, you can compare the effects of market volatilities on Mobilezone and Ascom Holding 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 Mobilezone with a short position of Ascom Holding. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mobilezone and Ascom Holding.
Diversification Opportunities for Mobilezone and Ascom Holding
-0.73 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Mobilezone and Ascom is -0.73. Overlapping area represents the amount of risk that can be diversified away by holding mobilezone ag and Ascom Holding AG in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ascom Holding AG and Mobilezone 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 mobilezone ag are associated (or correlated) with Ascom Holding. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ascom Holding AG has no effect on the direction of Mobilezone i.e., Mobilezone and Ascom Holding go up and down completely randomly.
Pair Corralation between Mobilezone and Ascom Holding
Assuming the 90 days trading horizon mobilezone ag is expected to generate 0.44 times more return on investment than Ascom Holding. However, mobilezone ag is 2.26 times less risky than Ascom Holding. It trades about 0.09 of its potential returns per unit of risk. Ascom Holding AG is currently generating about -0.24 per unit of risk. If you would invest 1,330 in mobilezone ag on September 2, 2024 and sell it today you would earn a total of 66.00 from holding mobilezone ag or generate 4.96% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
mobilezone ag vs. Ascom Holding AG
Performance |
| Timeline |
| mobilezone ag |
| Ascom Holding AG |
Mobilezone and Ascom Holding Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mobilezone and Ascom Holding
The main advantage of trading using opposite Mobilezone and Ascom Holding positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mobilezone position performs unexpectedly, Ascom Holding 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 Ascom Holding will offset losses from the drop in Ascom Holding's long position.| Mobilezone vs. Cembra Money Bank | Mobilezone vs. Adval Tech Holding | Mobilezone vs. Cicor Technologies | Mobilezone vs. Berner Kantonalbank AG |
| Ascom Holding vs. Comet Holding AG | Ascom Holding vs. Komax Holding AG | Ascom Holding vs. Implenia AG | Ascom Holding vs. Basilea Pharmaceutica AG |
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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
Other Complementary Tools
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals |