Correlation Between PATTIES FOODS and TELE2 B
Can any of the company-specific risk be diversified away by investing in both PATTIES FOODS and TELE2 B 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 PATTIES FOODS and TELE2 B into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between PATTIES FOODS and TELE2 B , you can compare the effects of market volatilities on PATTIES FOODS and TELE2 B 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 PATTIES FOODS with a short position of TELE2 B. Check out your portfolio center. Please also check ongoing floating volatility patterns of PATTIES FOODS and TELE2 B.
Diversification Opportunities for PATTIES FOODS and TELE2 B
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between PATTIES and TELE2 is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding PATTIES FOODS and TELE2 B in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on TELE2 B and PATTIES FOODS 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 PATTIES FOODS are associated (or correlated) with TELE2 B. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of TELE2 B has no effect on the direction of PATTIES FOODS i.e., PATTIES FOODS and TELE2 B go up and down completely randomly.
Pair Corralation between PATTIES FOODS and TELE2 B
If you would invest 0.00 in TELE2 B on November 8, 2024 and sell it today you would earn a total of 0.00 from holding TELE2 B or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 4.55% |
| Values | Daily Returns |
PATTIES FOODS vs. TELE2 B
Performance |
| Timeline |
| PATTIES FOODS |
| TELE2 B |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
PATTIES FOODS and TELE2 B Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with PATTIES FOODS and TELE2 B
The main advantage of trading using opposite PATTIES FOODS and TELE2 B positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if PATTIES FOODS position performs unexpectedly, TELE2 B 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 TELE2 B will offset losses from the drop in TELE2 B's long position.| PATTIES FOODS vs. AGRICULTBK HADR25 YC | PATTIES FOODS vs. Materialise NV | PATTIES FOODS vs. GOODYEAR T RUBBER | PATTIES FOODS vs. WIMFARM SA EO |
| TELE2 B vs. Siamgas And Petrochemicals | TELE2 B vs. De Grey Mining | TELE2 B vs. Aya Gold Silver | TELE2 B vs. Endeavour Mining PLC |
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 Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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