Correlation Between AOI Electronics and ALBIS LEASING
Can any of the company-specific risk be diversified away by investing in both AOI Electronics and ALBIS LEASING 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 AOI Electronics and ALBIS LEASING into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between AOI Electronics Co and ALBIS LEASING AG, you can compare the effects of market volatilities on AOI Electronics and ALBIS LEASING 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 AOI Electronics with a short position of ALBIS LEASING. Check out your portfolio center. Please also check ongoing floating volatility patterns of AOI Electronics and ALBIS LEASING.
Diversification Opportunities for AOI Electronics and ALBIS LEASING
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between AOI and ALBIS is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding AOI Electronics Co and ALBIS LEASING AG in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ALBIS LEASING AG and AOI Electronics 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 AOI Electronics Co are associated (or correlated) with ALBIS LEASING. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ALBIS LEASING AG has no effect on the direction of AOI Electronics i.e., AOI Electronics and ALBIS LEASING go up and down completely randomly.
Pair Corralation between AOI Electronics and ALBIS LEASING
If you would invest 1,868 in AOI Electronics Co on October 30, 2024 and sell it today you would earn a total of 0.00 from holding AOI Electronics Co or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
AOI Electronics Co vs. ALBIS LEASING AG
Performance |
| Timeline |
| AOI Electronics |
| ALBIS LEASING AG |
AOI Electronics and ALBIS LEASING Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AOI Electronics and ALBIS LEASING
The main advantage of trading using opposite AOI Electronics and ALBIS LEASING positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AOI Electronics position performs unexpectedly, ALBIS LEASING 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 ALBIS LEASING will offset losses from the drop in ALBIS LEASING's long position.| AOI Electronics vs. COFCO Joycome Foods | AOI Electronics vs. United Natural Foods | AOI Electronics vs. PATTIES FOODS | AOI Electronics vs. INDOFOOD AGRI RES |
| ALBIS LEASING vs. Sunny Optical Technology | ALBIS LEASING vs. GAZTRTECHNIUADR15EO01 | ALBIS LEASING vs. PKSHA TECHNOLOGY INC | ALBIS LEASING vs. Firan Technology Group |
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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
Other Complementary Tools
| Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges | |
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios | |
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators | |
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like | |
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments |