Correlation Between Talanx AG and Sixt SE
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By analyzing existing cross correlation between Talanx AG and Sixt SE, you can compare the effects of market volatilities on Talanx AG 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 Talanx AG with a short position of Sixt SE. Check out your portfolio center. Please also check ongoing floating volatility patterns of Talanx AG and Sixt SE.
Diversification Opportunities for Talanx AG and Sixt SE
Very good diversification
The 3 months correlation between Talanx and Sixt is -0.45. Overlapping area represents the amount of risk that can be diversified away by holding Talanx AG and Sixt SE in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sixt SE and Talanx AG 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 Talanx AG 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 Talanx AG i.e., Talanx AG and Sixt SE go up and down completely randomly.
Pair Corralation between Talanx AG and Sixt SE
Assuming the 90 days horizon Talanx AG is expected to generate 0.51 times more return on investment than Sixt SE. However, Talanx AG is 1.96 times less risky than Sixt SE. It trades about 0.36 of its potential returns per unit of risk. Sixt SE is currently generating about -0.08 per unit of risk. If you would invest 7,140 in Talanx AG on August 27, 2024 and sell it today you would earn a total of 730.00 from holding Talanx AG or generate 10.22% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Talanx AG vs. Sixt SE
Performance |
| Timeline |
| Talanx AG |
| Sixt SE |
Talanx AG and Sixt SE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Talanx AG and Sixt SE
The main advantage of trading using opposite Talanx AG and Sixt SE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Talanx AG 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.| Talanx AG vs. NIPPON STEEL SPADR | Talanx AG vs. Insteel Industries | Talanx AG vs. Zijin Mining Group | Talanx AG vs. COSMOSTEEL HLDGS |
| Sixt SE vs. PLAYSTUDIOS A DL 0001 | Sixt SE vs. SANOK RUBBER ZY | Sixt SE vs. COLUMBIA SPORTSWEAR | Sixt SE vs. Materialise NV |
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 Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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