Correlation Between Performance Technologies and Logismos Information
Specify exactly 2 symbols:
By analyzing existing cross correlation between Performance Technologies SA and Logismos Information Systems, you can compare the effects of market volatilities on Performance Technologies and Logismos Information 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 Performance Technologies with a short position of Logismos Information. Check out your portfolio center. Please also check ongoing floating volatility patterns of Performance Technologies and Logismos Information.
Diversification Opportunities for Performance Technologies and Logismos Information
0.83 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Performance and Logismos is 0.83. Overlapping area represents the amount of risk that can be diversified away by holding Performance Technologies SA and Logismos Information Systems in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Logismos Information and Performance Technologies 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 Performance Technologies SA are associated (or correlated) with Logismos Information. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Logismos Information has no effect on the direction of Performance Technologies i.e., Performance Technologies and Logismos Information go up and down completely randomly.
Pair Corralation between Performance Technologies and Logismos Information
Assuming the 90 days trading horizon Performance Technologies SA is expected to under-perform the Logismos Information. In addition to that, Performance Technologies is 2.15 times more volatile than Logismos Information Systems. It trades about -0.19 of its total potential returns per unit of risk. Logismos Information Systems is currently generating about -0.06 per unit of volatility. If you would invest 127.00 in Logismos Information Systems on September 1, 2024 and sell it today you would lose (2.00) from holding Logismos Information Systems or give up 1.57% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Performance Technologies SA vs. Logismos Information Systems
Performance |
| Timeline |
| Performance Technologies |
| Logismos Information |
Performance Technologies and Logismos Information Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Performance Technologies and Logismos Information
The main advantage of trading using opposite Performance Technologies and Logismos Information positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Performance Technologies position performs unexpectedly, Logismos Information 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 Logismos Information will offset losses from the drop in Logismos Information's long position.| Performance Technologies vs. Quest Holdings SA | Performance Technologies vs. CPI Computer Peripherals | Performance Technologies vs. National Bank of | Performance Technologies vs. EL D Mouzakis |
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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
Other Complementary Tools
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| Content Syndication Quickly integrate customizable finance content to your own investment portal | |
| Transaction History View history of all your transactions and understand their impact on performance | |
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios |