Correlation Between Plastika Kritis and Greek Organization
Can any of the company-specific risk be diversified away by investing in both Plastika Kritis and Greek Organization 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 Plastika Kritis and Greek Organization into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Plastika Kritis SA and Greek Organization of, you can compare the effects of market volatilities on Plastika Kritis and Greek Organization 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 Plastika Kritis with a short position of Greek Organization. Check out your portfolio center. Please also check ongoing floating volatility patterns of Plastika Kritis and Greek Organization.
Diversification Opportunities for Plastika Kritis and Greek Organization
0.12 | Correlation Coefficient |
Average diversification
The 3 months correlation between Plastika and Greek is 0.12. Overlapping area represents the amount of risk that can be diversified away by holding Plastika Kritis SA and Greek Organization of in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Greek Organization and Plastika Kritis 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 Plastika Kritis SA are associated (or correlated) with Greek Organization. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Greek Organization has no effect on the direction of Plastika Kritis i.e., Plastika Kritis and Greek Organization go up and down completely randomly.
Pair Corralation between Plastika Kritis and Greek Organization
Assuming the 90 days trading horizon Plastika Kritis is expected to generate 7.73 times less return on investment than Greek Organization. In addition to that, Plastika Kritis is 1.58 times more volatile than Greek Organization of. It trades about 0.0 of its total potential returns per unit of risk. Greek Organization of is currently generating about 0.06 per unit of volatility. If you would invest 1,182 in Greek Organization of on November 5, 2024 and sell it today you would earn a total of 474.00 from holding Greek Organization of or generate 40.1% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Plastika Kritis SA vs. Greek Organization of
Performance |
| Timeline |
| Plastika Kritis SA |
| Greek Organization |
Plastika Kritis and Greek Organization Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Plastika Kritis and Greek Organization
The main advantage of trading using opposite Plastika Kritis and Greek Organization positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Plastika Kritis position performs unexpectedly, Greek Organization 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 Greek Organization will offset losses from the drop in Greek Organization's long position.| Plastika Kritis vs. Thrace Plastics Holding | Plastika Kritis vs. Gr Sarantis SA | Plastika Kritis vs. Jumbo SA | Plastika Kritis vs. Hellenic Petroleum SA |
| Greek Organization vs. Mytilineos SA | Greek Organization vs. Hellenic Telecommunications Organization | Greek Organization vs. Motor Oil Corinth | Greek Organization vs. Alpha Services and |
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 Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
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