Correlation Between ATRenew and AKERBP
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By analyzing existing cross correlation between ATRenew Inc DRC and AKERBP 2 15 JUL 26, you can compare the effects of market volatilities on ATRenew and AKERBP 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 ATRenew with a short position of AKERBP. Check out your portfolio center. Please also check ongoing floating volatility patterns of ATRenew and AKERBP.
Diversification Opportunities for ATRenew and AKERBP
Very good diversification
The 3 months correlation between ATRenew and AKERBP is -0.34. Overlapping area represents the amount of risk that can be diversified away by holding ATRenew Inc DRC and AKERBP 2 15 JUL 26 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AKERBP 2 15 and ATRenew 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 ATRenew Inc DRC are associated (or correlated) with AKERBP. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AKERBP 2 15 has no effect on the direction of ATRenew i.e., ATRenew and AKERBP go up and down completely randomly.
Pair Corralation between ATRenew and AKERBP
Given the investment horizon of 90 days ATRenew Inc DRC is expected to generate 4.81 times more return on investment than AKERBP. However, ATRenew is 4.81 times more volatile than AKERBP 2 15 JUL 26. It trades about 0.03 of its potential returns per unit of risk. AKERBP 2 15 JUL 26 is currently generating about 0.01 per unit of risk. If you would invest 257.00 in ATRenew Inc DRC on September 5, 2024 and sell it today you would earn a total of 81.00 from holding ATRenew Inc DRC or generate 31.52% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 54.14% |
| Values | Daily Returns |
ATRenew Inc DRC vs. AKERBP 2 15 JUL 26
Performance |
| Timeline |
| ATRenew Inc DRC |
| AKERBP 2 15 |
ATRenew and AKERBP Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ATRenew and AKERBP
The main advantage of trading using opposite ATRenew and AKERBP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ATRenew position performs unexpectedly, AKERBP 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 AKERBP will offset losses from the drop in AKERBP's long position.The idea behind ATRenew Inc DRC and AKERBP 2 15 JUL 26 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.| AKERBP vs. Meiwu Technology Co | AKERBP vs. ATRenew Inc DRC | AKERBP vs. QBE Insurance Group | AKERBP vs. Sea |
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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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