Correlation Between Ottakringer Getrnke and Raiffeisen Bank
Can any of the company-specific risk be diversified away by investing in both Ottakringer Getrnke and Raiffeisen Bank 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 Ottakringer Getrnke and Raiffeisen Bank into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Ottakringer Getrnke AG and Raiffeisen Bank International, you can compare the effects of market volatilities on Ottakringer Getrnke and Raiffeisen Bank 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 Ottakringer Getrnke with a short position of Raiffeisen Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ottakringer Getrnke and Raiffeisen Bank.
Diversification Opportunities for Ottakringer Getrnke and Raiffeisen Bank
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Ottakringer and Raiffeisen is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Ottakringer Getrnke AG and Raiffeisen Bank International in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Raiffeisen Bank Inte and Ottakringer Getrnke 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 Ottakringer Getrnke AG are associated (or correlated) with Raiffeisen Bank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Raiffeisen Bank Inte has no effect on the direction of Ottakringer Getrnke i.e., Ottakringer Getrnke and Raiffeisen Bank go up and down completely randomly.
Pair Corralation between Ottakringer Getrnke and Raiffeisen Bank
If you would invest 1,800 in Raiffeisen Bank International on August 24, 2024 and sell it today you would earn a total of 8.00 from holding Raiffeisen Bank International or generate 0.44% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Ottakringer Getrnke AG vs. Raiffeisen Bank International
Performance |
| Timeline |
| Ottakringer Getrnke |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Raiffeisen Bank Inte |
Ottakringer Getrnke and Raiffeisen Bank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ottakringer Getrnke and Raiffeisen Bank
The main advantage of trading using opposite Ottakringer Getrnke and Raiffeisen Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ottakringer Getrnke position performs unexpectedly, Raiffeisen Bank 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 Raiffeisen Bank will offset losses from the drop in Raiffeisen Bank's long position.| Ottakringer Getrnke vs. UNIQA Insurance Group | Ottakringer Getrnke vs. CNH Industrial NV | Ottakringer Getrnke vs. Universal Music Group | Ottakringer Getrnke vs. SBM Offshore NV |
| Raiffeisen Bank vs. Vienna Insurance Group | Raiffeisen Bank vs. AGRANA Beteiligungs Aktiengesellschaft | Raiffeisen Bank vs. Voestalpine AG | Raiffeisen Bank vs. BKS Bank 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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
Other Complementary Tools
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine | |
| Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
| Money Managers Screen money managers from public funds and ETFs managed around the world | |
| Idea Optimizer Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio | |
| Watchlist Optimization Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm |