Correlation Between Oesterr Post and IShares Core
Can any of the company-specific risk be diversified away by investing in both Oesterr Post and IShares Core 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 Oesterr Post and IShares Core into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Oesterr Post AG and iShares Core DAX, you can compare the effects of market volatilities on Oesterr Post and IShares Core 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 Oesterr Post with a short position of IShares Core. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oesterr Post and IShares Core.
Diversification Opportunities for Oesterr Post and IShares Core
-0.34 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Oesterr and IShares is -0.34. Overlapping area represents the amount of risk that can be diversified away by holding Oesterr Post AG and iShares Core DAX in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on iShares Core DAX and Oesterr Post 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 Oesterr Post AG are associated (or correlated) with IShares Core. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of iShares Core DAX has no effect on the direction of Oesterr Post i.e., Oesterr Post and IShares Core go up and down completely randomly.
Pair Corralation between Oesterr Post and IShares Core
Assuming the 90 days trading horizon Oesterr Post AG is expected to under-perform the IShares Core. But the stock apears to be less risky and, when comparing its historical volatility, Oesterr Post AG is 1.33 times less risky than IShares Core. The stock trades about -0.08 of its potential returns per unit of risk. The iShares Core DAX is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest 16,038 in iShares Core DAX on September 2, 2024 and sell it today you would earn a total of 306.00 from holding iShares Core DAX or generate 1.91% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Oesterr Post AG vs. iShares Core DAX
Performance |
| Timeline |
| Oesterr Post AG |
| iShares Core DAX |
Oesterr Post and IShares Core Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Oesterr Post and IShares Core
The main advantage of trading using opposite Oesterr Post and IShares Core positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oesterr Post position performs unexpectedly, IShares Core 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 IShares Core will offset losses from the drop in IShares Core's long position.| Oesterr Post vs. Voestalpine AG | Oesterr Post vs. OMV Aktiengesellschaft | Oesterr Post vs. UNIQA Insurance Group | Oesterr Post vs. VERBUND AG |
| IShares Core vs. RATH Aktiengesellschaft | IShares Core vs. AT S Austria | IShares Core vs. BAWAG Group AG | IShares Core vs. Semperit Aktiengesellschaft Holding |
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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
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