Correlation Between Teleperformance and Aubay Socit
Can any of the company-specific risk be diversified away by investing in both Teleperformance and Aubay Socit 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 Teleperformance and Aubay Socit into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Teleperformance SE and Aubay Socit Anonyme, you can compare the effects of market volatilities on Teleperformance and Aubay Socit 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 Teleperformance with a short position of Aubay Socit. Check out your portfolio center. Please also check ongoing floating volatility patterns of Teleperformance and Aubay Socit.
Diversification Opportunities for Teleperformance and Aubay Socit
0.28 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Teleperformance and Aubay is 0.28. Overlapping area represents the amount of risk that can be diversified away by holding Teleperformance SE and Aubay Socit Anonyme in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Aubay Socit Anonyme and Teleperformance 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 Teleperformance SE are associated (or correlated) with Aubay Socit. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Aubay Socit Anonyme has no effect on the direction of Teleperformance i.e., Teleperformance and Aubay Socit go up and down completely randomly.
Pair Corralation between Teleperformance and Aubay Socit
Assuming the 90 days trading horizon Teleperformance SE is expected to under-perform the Aubay Socit. In addition to that, Teleperformance is 1.78 times more volatile than Aubay Socit Anonyme. It trades about -0.04 of its total potential returns per unit of risk. Aubay Socit Anonyme is currently generating about 0.01 per unit of volatility. If you would invest 4,444 in Aubay Socit Anonyme on December 4, 2024 and sell it today you would earn a total of 91.00 from holding Aubay Socit Anonyme or generate 2.05% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Teleperformance SE vs. Aubay Socit Anonyme
Performance |
| Timeline |
| Teleperformance SE |
| Aubay Socit Anonyme |
Teleperformance and Aubay Socit Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Teleperformance and Aubay Socit
The main advantage of trading using opposite Teleperformance and Aubay Socit positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Teleperformance position performs unexpectedly, Aubay Socit 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 Aubay Socit will offset losses from the drop in Aubay Socit's long position.| Teleperformance vs. Worldline SA | ||
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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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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