Correlation Between Bank Polska and Brand 24
Can any of the company-specific risk be diversified away by investing in both Bank Polska and Brand 24 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 Bank Polska and Brand 24 into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Bank Polska Kasa and Brand 24 SA, you can compare the effects of market volatilities on Bank Polska and Brand 24 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 Bank Polska with a short position of Brand 24. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bank Polska and Brand 24.
Diversification Opportunities for Bank Polska and Brand 24
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Bank and Brand is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Bank Polska Kasa and Brand 24 SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Brand 24 SA and Bank Polska 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 Bank Polska Kasa are associated (or correlated) with Brand 24. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Brand 24 SA has no effect on the direction of Bank Polska i.e., Bank Polska and Brand 24 go up and down completely randomly.
Pair Corralation between Bank Polska and Brand 24
If you would invest 14,805 in Bank Polska Kasa on September 12, 2024 and sell it today you would lose (100.00) from holding Bank Polska Kasa or give up 0.68% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 1.61% |
| Values | Daily Returns |
Bank Polska Kasa vs. Brand 24 SA
Performance |
| Timeline |
| Bank Polska Kasa |
| Brand 24 SA |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
OK
Bank Polska and Brand 24 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bank Polska and Brand 24
The main advantage of trading using opposite Bank Polska and Brand 24 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bank Polska position performs unexpectedly, Brand 24 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 Brand 24 will offset losses from the drop in Brand 24's long position.| Bank Polska vs. Mlk Foods Public | Bank Polska vs. Intersport Polska SA | Bank Polska vs. Marie Brizard Wine | Bank Polska vs. 3R Games SA |
| Brand 24 vs. Mercator Medical SA | Brand 24 vs. PMPG Polskie Media | Brand 24 vs. MCI Management SA | Brand 24 vs. Gaming Factory SA |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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