Correlation Between Procimmo Real and Bellevue Group
Can any of the company-specific risk be diversified away by investing in both Procimmo Real and Bellevue Group 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 Procimmo Real and Bellevue Group into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Procimmo Real Estate and Bellevue Group AG, you can compare the effects of market volatilities on Procimmo Real and Bellevue Group 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 Procimmo Real with a short position of Bellevue Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Procimmo Real and Bellevue Group.
Diversification Opportunities for Procimmo Real and Bellevue Group
0.52 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Procimmo and Bellevue is 0.52. Overlapping area represents the amount of risk that can be diversified away by holding Procimmo Real Estate and Bellevue Group AG in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bellevue Group AG and Procimmo Real 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 Procimmo Real Estate are associated (or correlated) with Bellevue Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bellevue Group AG has no effect on the direction of Procimmo Real i.e., Procimmo Real and Bellevue Group go up and down completely randomly.
Pair Corralation between Procimmo Real and Bellevue Group
Assuming the 90 days trading horizon Procimmo Real Estate is expected to generate 0.47 times more return on investment than Bellevue Group. However, Procimmo Real Estate is 2.11 times less risky than Bellevue Group. It trades about 0.04 of its potential returns per unit of risk. Bellevue Group AG is currently generating about -0.09 per unit of risk. If you would invest 13,300 in Procimmo Real Estate on September 1, 2024 and sell it today you would earn a total of 2,150 from holding Procimmo Real Estate or generate 16.17% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 99.8% |
| Values | Daily Returns |
Procimmo Real Estate vs. Bellevue Group AG
Performance |
| Timeline |
| Procimmo Real Estate |
| Bellevue Group AG |
Procimmo Real and Bellevue Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Procimmo Real and Bellevue Group
The main advantage of trading using opposite Procimmo Real and Bellevue Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Procimmo Real position performs unexpectedly, Bellevue Group 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 Bellevue Group will offset losses from the drop in Bellevue Group's long position.| Procimmo Real vs. SF Sustainable Property | Procimmo Real vs. Swissinvest Real Estate | Procimmo Real vs. Baloise Swiss Property | Procimmo Real vs. CS Real Estate |
| Bellevue Group vs. BB Biotech AG | Bellevue Group vs. Leonteq AG | Bellevue Group vs. Helvetia Holding AG | Bellevue Group vs. EFG International AG |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
Other Complementary Tools
| Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
| Idea Breakdown Analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes | |
| Commodity Directory Find actively traded commodities issued by global exchanges | |
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios |