Correlation Between Optima Bank and Trastor Real
Specify exactly 2 symbols:
By analyzing existing cross correlation between Optima bank SA and Trastor Real Estate, you can compare the effects of market volatilities on Optima Bank and Trastor Real 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 Optima Bank with a short position of Trastor Real. Check out your portfolio center. Please also check ongoing floating volatility patterns of Optima Bank and Trastor Real.
Diversification Opportunities for Optima Bank and Trastor Real
0.29 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Optima and Trastor is 0.29. Overlapping area represents the amount of risk that can be diversified away by holding Optima bank SA and Trastor Real Estate in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Trastor Real Estate and Optima Bank 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 Optima bank SA are associated (or correlated) with Trastor Real. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Trastor Real Estate has no effect on the direction of Optima Bank i.e., Optima Bank and Trastor Real go up and down completely randomly.
Pair Corralation between Optima Bank and Trastor Real
Assuming the 90 days trading horizon Optima bank SA is expected to generate 0.5 times more return on investment than Trastor Real. However, Optima bank SA is 2.02 times less risky than Trastor Real. It trades about 0.15 of its potential returns per unit of risk. Trastor Real Estate is currently generating about 0.02 per unit of risk. If you would invest 696.00 in Optima bank SA on August 31, 2024 and sell it today you would earn a total of 574.00 from holding Optima bank SA or generate 82.47% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 77.63% |
| Values | Daily Returns |
Optima bank SA vs. Trastor Real Estate
Performance |
| Timeline |
| Optima bank SA |
| Trastor Real Estate |
Optima Bank and Trastor Real Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Optima Bank and Trastor Real
The main advantage of trading using opposite Optima Bank and Trastor Real positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Optima Bank position performs unexpectedly, Trastor Real 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 Trastor Real will offset losses from the drop in Trastor Real's long position.| Optima Bank vs. Coca Cola HBC AG | Optima Bank vs. Hellenic Telecommunications Organization | Optima Bank vs. Greek Organization of | Optima Bank vs. Eurobank Ergasias Services |
| Trastor Real vs. Athens Medical CSA | Trastor Real vs. As Commercial Industrial | Trastor Real vs. Profile Systems Software | Trastor Real vs. Marfin Investment 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 CEOs Directory module to screen CEOs from public companies around the world.
Other Complementary Tools
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device |