Correlation Between Poznanska Korporacja and JR Invest
Can any of the company-specific risk be diversified away by investing in both Poznanska Korporacja and JR Invest 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 Poznanska Korporacja and JR Invest into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Poznanska Korporacja Budowlana and JR Invest SA, you can compare the effects of market volatilities on Poznanska Korporacja and JR Invest 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 Poznanska Korporacja with a short position of JR Invest. Check out your portfolio center. Please also check ongoing floating volatility patterns of Poznanska Korporacja and JR Invest.
Diversification Opportunities for Poznanska Korporacja and JR Invest
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Poznanska and JRH is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Poznanska Korporacja Budowlana and JR Invest SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JR Invest SA and Poznanska Korporacja 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 Poznanska Korporacja Budowlana are associated (or correlated) with JR Invest. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JR Invest SA has no effect on the direction of Poznanska Korporacja i.e., Poznanska Korporacja and JR Invest go up and down completely randomly.
Pair Corralation between Poznanska Korporacja and JR Invest
If you would invest 1,484 in Poznanska Korporacja Budowlana on August 24, 2024 and sell it today you would earn a total of 416.00 from holding Poznanska Korporacja Budowlana or generate 28.03% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Poznanska Korporacja Budowlana vs. JR Invest SA
Performance |
| Timeline |
| Poznanska Korporacja |
| JR Invest SA |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Poznanska Korporacja and JR Invest Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Poznanska Korporacja and JR Invest
The main advantage of trading using opposite Poznanska Korporacja and JR Invest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Poznanska Korporacja position performs unexpectedly, JR Invest 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 JR Invest will offset losses from the drop in JR Invest's long position.| Poznanska Korporacja vs. Asseco Business Solutions | Poznanska Korporacja vs. Detalion Games SA | Poznanska Korporacja vs. Asseco South Eastern | Poznanska Korporacja vs. Movie Games SA |
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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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
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