Correlation Between Sixt SE and Sixt SE
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By analyzing existing cross correlation between Sixt SE and Sixt SE, you can compare the effects of market volatilities on Sixt SE and Sixt SE 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 Sixt SE. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sixt SE and Sixt SE.
Diversification Opportunities for Sixt SE and Sixt SE
No risk reduction
The 3 months correlation between Sixt and Sixt is 0.99. Overlapping area represents the amount of risk that can be diversified away by holding Sixt SE and Sixt SE in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sixt SE 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 Sixt SE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sixt SE has no effect on the direction of Sixt SE i.e., Sixt SE and Sixt SE go up and down completely randomly.
Pair Corralation between Sixt SE and Sixt SE
Assuming the 90 days trading horizon Sixt SE is expected to generate 0.92 times more return on investment than Sixt SE. However, Sixt SE is 1.09 times less risky than Sixt SE. It trades about 0.03 of its potential returns per unit of risk. Sixt SE is currently generating about 0.02 per unit of risk. If you would invest 4,746 in Sixt SE on September 12, 2024 and sell it today you would earn a total of 764.00 from holding Sixt SE or generate 16.1% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sixt SE vs. Sixt SE
Performance |
| Timeline |
| Sixt SE |
| Sixt SE |
Sixt SE and Sixt SE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sixt SE and Sixt SE
The main advantage of trading using opposite Sixt SE and Sixt SE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sixt SE position performs unexpectedly, Sixt SE 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 Sixt SE will offset losses from the drop in Sixt SE's long position.| Sixt SE vs. Chiba Bank | Sixt SE vs. REVO INSURANCE SPA | Sixt SE vs. ASSOC BR FOODS | Sixt SE vs. TFS FINANCIAL |
| Sixt SE vs. United Rentals | Sixt SE vs. WillScot Mobile Mini | Sixt SE vs. Superior Plus Corp | Sixt SE vs. SIVERS SEMICONDUCTORS AB |
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 Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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