Correlation Between Gr Sarantis and Intralot
Can any of the company-specific risk be diversified away by investing in both Gr Sarantis and Intralot 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 Gr Sarantis and Intralot into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Gr Sarantis SA and Intralot SA Integrated, you can compare the effects of market volatilities on Gr Sarantis and Intralot 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 Gr Sarantis with a short position of Intralot. Check out your portfolio center. Please also check ongoing floating volatility patterns of Gr Sarantis and Intralot.
Diversification Opportunities for Gr Sarantis and Intralot
0.61 | Correlation Coefficient |
Poor diversification
The 3 months correlation between SAR and Intralot is 0.61. Overlapping area represents the amount of risk that can be diversified away by holding Gr Sarantis SA and Intralot SA Integrated in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Intralot SA Integrated and Gr Sarantis 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 Gr Sarantis SA are associated (or correlated) with Intralot. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Intralot SA Integrated has no effect on the direction of Gr Sarantis i.e., Gr Sarantis and Intralot go up and down completely randomly.
Pair Corralation between Gr Sarantis and Intralot
Assuming the 90 days trading horizon Gr Sarantis SA is expected to generate 0.93 times more return on investment than Intralot. However, Gr Sarantis SA is 1.08 times less risky than Intralot. It trades about 0.2 of its potential returns per unit of risk. Intralot SA Integrated is currently generating about 0.04 per unit of risk. If you would invest 1,090 in Gr Sarantis SA on November 5, 2024 and sell it today you would earn a total of 50.00 from holding Gr Sarantis SA or generate 4.59% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Gr Sarantis SA vs. Intralot SA Integrated
Performance |
| Timeline |
| Gr Sarantis SA |
| Intralot SA Integrated |
Gr Sarantis and Intralot Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Gr Sarantis and Intralot
The main advantage of trading using opposite Gr Sarantis and Intralot positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Gr Sarantis position performs unexpectedly, Intralot 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 Intralot will offset losses from the drop in Intralot's long position.| Gr Sarantis vs. Jumbo SA | Gr Sarantis vs. Mytilineos SA | Gr Sarantis vs. Aegean Airlines SA | Gr Sarantis vs. Greek Organization of |
| Intralot vs. Greek Organization of | Intralot vs. Public Power | Intralot vs. Mytilineos SA | Intralot vs. Hellenic Telecommunications Organization |
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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
Other Complementary Tools
| Positions Ratings Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
| ETFs Find actively traded Exchange Traded Funds (ETF) from around the world | |
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. | |
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios |