Correlation Between Raiffeisen Bank and Hutter Schrantz
Can any of the company-specific risk be diversified away by investing in both Raiffeisen Bank and Hutter Schrantz 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 Raiffeisen Bank and Hutter Schrantz into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Raiffeisen Bank International and Hutter Schrantz AG, you can compare the effects of market volatilities on Raiffeisen Bank and Hutter Schrantz 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 Raiffeisen Bank with a short position of Hutter Schrantz. Check out your portfolio center. Please also check ongoing floating volatility patterns of Raiffeisen Bank and Hutter Schrantz.
Diversification Opportunities for Raiffeisen Bank and Hutter Schrantz
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Raiffeisen and Hutter is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Raiffeisen Bank International and Hutter Schrantz AG in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hutter Schrantz AG and Raiffeisen Bank 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 Raiffeisen Bank International are associated (or correlated) with Hutter Schrantz. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hutter Schrantz AG has no effect on the direction of Raiffeisen Bank i.e., Raiffeisen Bank and Hutter Schrantz go up and down completely randomly.
Pair Corralation between Raiffeisen Bank and Hutter Schrantz
If you would invest 1,855 in Raiffeisen Bank International on September 13, 2024 and sell it today you would earn a total of 171.00 from holding Raiffeisen Bank International or generate 9.22% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Raiffeisen Bank International vs. Hutter Schrantz AG
Performance |
| Timeline |
| Raiffeisen Bank Inte |
| Hutter Schrantz AG |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Raiffeisen Bank and Hutter Schrantz Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Raiffeisen Bank and Hutter Schrantz
The main advantage of trading using opposite Raiffeisen Bank and Hutter Schrantz positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Raiffeisen Bank position performs unexpectedly, Hutter Schrantz 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 Hutter Schrantz will offset losses from the drop in Hutter Schrantz's long position.| Raiffeisen Bank vs. UNIQA Insurance Group | Raiffeisen Bank vs. Addiko Bank AG | Raiffeisen Bank vs. Vienna Insurance Group | Raiffeisen Bank vs. AMAG Austria Metall |
| Hutter Schrantz vs. AMAG Austria Metall | Hutter Schrantz vs. Erste Group Bank | Hutter Schrantz vs. Oberbank AG | Hutter Schrantz vs. Vienna Insurance Group |
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 Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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