Correlation Between Stagwell and 25160PAE7
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By analyzing existing cross correlation between Stagwell and DEUTSCHE BK AG, you can compare the effects of market volatilities on Stagwell and 25160PAE7 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 Stagwell with a short position of 25160PAE7. Check out your portfolio center. Please also check ongoing floating volatility patterns of Stagwell and 25160PAE7.
Diversification Opportunities for Stagwell and 25160PAE7
Very good diversification
The 3 months correlation between Stagwell and 25160PAE7 is -0.46. Overlapping area represents the amount of risk that can be diversified away by holding Stagwell and DEUTSCHE BK AG in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on DEUTSCHE BK AG and Stagwell 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 Stagwell are associated (or correlated) with 25160PAE7. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DEUTSCHE BK AG has no effect on the direction of Stagwell i.e., Stagwell and 25160PAE7 go up and down completely randomly.
Pair Corralation between Stagwell and 25160PAE7
Given the investment horizon of 90 days Stagwell is expected to generate 3.4 times more return on investment than 25160PAE7. However, Stagwell is 3.4 times more volatile than DEUTSCHE BK AG. It trades about 0.02 of its potential returns per unit of risk. DEUTSCHE BK AG is currently generating about 0.03 per unit of risk. If you would invest 665.00 in Stagwell on September 28, 2024 and sell it today you would lose (1.00) from holding Stagwell or give up 0.15% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 77.02% |
| Values | Daily Returns |
Stagwell vs. DEUTSCHE BK AG
Performance |
| Timeline |
| Stagwell |
| DEUTSCHE BK AG |
Stagwell and 25160PAE7 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Stagwell and 25160PAE7
The main advantage of trading using opposite Stagwell and 25160PAE7 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Stagwell position performs unexpectedly, 25160PAE7 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 25160PAE7 will offset losses from the drop in 25160PAE7's long position.| Stagwell vs. Innovid Corp | Stagwell vs. Interpublic Group of | Stagwell vs. Cimpress NV | Stagwell vs. Criteo Sa |
| 25160PAE7 vs. Sandstorm Gold Ltd | 25160PAE7 vs. Eldorado Gold Corp | 25160PAE7 vs. Inflection Point Acquisition | 25160PAE7 vs. Pinterest |
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 Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
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