Correlation Between Sixt SE and REGAL ASIAN
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By analyzing existing cross correlation between Sixt SE and REGAL ASIAN INVESTMENTS, you can compare the effects of market volatilities on Sixt SE and REGAL ASIAN 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 Sixt SE with a short position of REGAL ASIAN. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sixt SE and REGAL ASIAN.
Diversification Opportunities for Sixt SE and REGAL ASIAN
0.86 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Sixt and REGAL is 0.86. Overlapping area represents the amount of risk that can be diversified away by holding Sixt SE and REGAL ASIAN INVESTMENTS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on REGAL ASIAN INVESTMENTS and Sixt SE 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 Sixt SE are associated (or correlated) with REGAL ASIAN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of REGAL ASIAN INVESTMENTS has no effect on the direction of Sixt SE i.e., Sixt SE and REGAL ASIAN go up and down completely randomly.
Pair Corralation between Sixt SE and REGAL ASIAN
Assuming the 90 days trading horizon Sixt SE is expected to under-perform the REGAL ASIAN. In addition to that, Sixt SE is 1.12 times more volatile than REGAL ASIAN INVESTMENTS. It trades about 0.0 of its total potential returns per unit of risk. REGAL ASIAN INVESTMENTS is currently generating about 0.02 per unit of volatility. If you would invest 121.00 in REGAL ASIAN INVESTMENTS on September 5, 2024 and sell it today you would earn a total of 4.00 from holding REGAL ASIAN INVESTMENTS or generate 3.31% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 99.22% |
| Values | Daily Returns |
Sixt SE vs. REGAL ASIAN INVESTMENTS
Performance |
| Timeline |
| Sixt SE |
| REGAL ASIAN INVESTMENTS |
Sixt SE and REGAL ASIAN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sixt SE and REGAL ASIAN
The main advantage of trading using opposite Sixt SE and REGAL ASIAN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sixt SE position performs unexpectedly, REGAL ASIAN 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 REGAL ASIAN will offset losses from the drop in REGAL ASIAN's long position.| Sixt SE vs. REGAL ASIAN INVESTMENTS | Sixt SE vs. DIVERSIFIED ROYALTY | Sixt SE vs. ECHO INVESTMENT ZY | Sixt SE vs. Strategic Investments AS |
| REGAL ASIAN vs. KOOL2PLAY SA ZY | REGAL ASIAN vs. PLAY2CHILL SA ZY | REGAL ASIAN vs. PLAYSTUDIOS A DL 0001 | REGAL ASIAN vs. CarsalesCom |
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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