Correlation Between TELES Informationstech and G8 EDUCATION
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By analyzing existing cross correlation between TELES Informationstechnologien AG and G8 EDUCATION, you can compare the effects of market volatilities on TELES Informationstech and G8 EDUCATION 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 TELES Informationstech with a short position of G8 EDUCATION. Check out your portfolio center. Please also check ongoing floating volatility patterns of TELES Informationstech and G8 EDUCATION.
Diversification Opportunities for TELES Informationstech and G8 EDUCATION
0.01 | Correlation Coefficient |
Significant diversification
The 3 months correlation between TELES and 3EAG is 0.01. Overlapping area represents the amount of risk that can be diversified away by holding TELES Informationstechnologien and G8 EDUCATION in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on G8 EDUCATION and TELES Informationstech 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 TELES Informationstechnologien AG are associated (or correlated) with G8 EDUCATION. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of G8 EDUCATION has no effect on the direction of TELES Informationstech i.e., TELES Informationstech and G8 EDUCATION go up and down completely randomly.
Pair Corralation between TELES Informationstech and G8 EDUCATION
Assuming the 90 days trading horizon TELES Informationstechnologien AG is expected to under-perform the G8 EDUCATION. In addition to that, TELES Informationstech is 2.21 times more volatile than G8 EDUCATION. It trades about -0.06 of its total potential returns per unit of risk. G8 EDUCATION is currently generating about 0.05 per unit of volatility. If you would invest 57.00 in G8 EDUCATION on September 3, 2024 and sell it today you would earn a total of 25.00 from holding G8 EDUCATION or generate 43.86% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 98.61% |
| Values | Daily Returns |
TELES Informationstechnologien vs. G8 EDUCATION
Performance |
| Timeline |
| TELES Informationstech |
| G8 EDUCATION |
TELES Informationstech and G8 EDUCATION Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with TELES Informationstech and G8 EDUCATION
The main advantage of trading using opposite TELES Informationstech and G8 EDUCATION positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if TELES Informationstech position performs unexpectedly, G8 EDUCATION 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 G8 EDUCATION will offset losses from the drop in G8 EDUCATION's long position.| TELES Informationstech vs. BOSTON BEER A | TELES Informationstech vs. Monster Beverage Corp | TELES Informationstech vs. Tsingtao Brewery | TELES Informationstech vs. MOLSON RS BEVERAGE |
| G8 EDUCATION vs. Computershare Limited | G8 EDUCATION vs. INTERSHOP Communications Aktiengesellschaft | G8 EDUCATION vs. ATRESMEDIA | G8 EDUCATION vs. SCANSOURCE |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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