Correlation Between Thrace Plastics and Logismos Information
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By analyzing existing cross correlation between Thrace Plastics Holding and Logismos Information Systems, you can compare the effects of market volatilities on Thrace Plastics 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 Thrace Plastics with a short position of Logismos Information. Check out your portfolio center. Please also check ongoing floating volatility patterns of Thrace Plastics and Logismos Information.
Diversification Opportunities for Thrace Plastics and Logismos Information
-0.04 | Correlation Coefficient |
Good diversification
The 3 months correlation between Thrace and Logismos is -0.04. Overlapping area represents the amount of risk that can be diversified away by holding Thrace Plastics Holding and Logismos Information Systems in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Logismos Information and Thrace Plastics 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 Thrace Plastics Holding 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 Thrace Plastics i.e., Thrace Plastics and Logismos Information go up and down completely randomly.
Pair Corralation between Thrace Plastics and Logismos Information
Assuming the 90 days trading horizon Thrace Plastics is expected to generate 2.14 times less return on investment than Logismos Information. In addition to that, Thrace Plastics is 1.23 times more volatile than Logismos Information Systems. It trades about 0.02 of its total potential returns per unit of risk. Logismos Information Systems is currently generating about 0.04 per unit of volatility. If you would invest 99.00 in Logismos Information Systems on September 4, 2024 and sell it today you would earn a total of 26.00 from holding Logismos Information Systems or generate 26.26% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.8% |
| Values | Daily Returns |
Thrace Plastics Holding vs. Logismos Information Systems
Performance |
| Timeline |
| Thrace Plastics Holding |
| Logismos Information |
Thrace Plastics and Logismos Information Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Thrace Plastics and Logismos Information
The main advantage of trading using opposite Thrace Plastics and Logismos Information positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Thrace Plastics 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.The idea behind Thrace Plastics Holding and Logismos Information Systems pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.| Logismos Information vs. Space Hellas SA | Logismos Information vs. Ilyda SA | Logismos Information vs. National Bank of | Logismos Information vs. EL D Mouzakis |
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