Correlation Between Trigano SA and Impulse Fitness
Can any of the company-specific risk be diversified away by investing in both Trigano SA and Impulse Fitness 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 Trigano SA and Impulse Fitness into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Trigano SA and Impulse Fitness Solutions, you can compare the effects of market volatilities on Trigano SA and Impulse Fitness 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 Trigano SA with a short position of Impulse Fitness. Check out your portfolio center. Please also check ongoing floating volatility patterns of Trigano SA and Impulse Fitness.
Diversification Opportunities for Trigano SA and Impulse Fitness
-0.85 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Trigano and Impulse is -0.85. Overlapping area represents the amount of risk that can be diversified away by holding Trigano SA and Impulse Fitness Solutions in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Impulse Fitness Solutions and Trigano SA 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 Trigano SA are associated (or correlated) with Impulse Fitness. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Impulse Fitness Solutions has no effect on the direction of Trigano SA i.e., Trigano SA and Impulse Fitness go up and down completely randomly.
Pair Corralation between Trigano SA and Impulse Fitness
Assuming the 90 days trading horizon Trigano SA is expected to generate 1.14 times more return on investment than Impulse Fitness. However, Trigano SA is 1.14 times more volatile than Impulse Fitness Solutions. It trades about 0.0 of its potential returns per unit of risk. Impulse Fitness Solutions is currently generating about -0.07 per unit of risk. If you would invest 12,905 in Trigano SA on August 31, 2024 and sell it today you would lose (825.00) from holding Trigano SA or give up 6.39% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Trigano SA vs. Impulse Fitness Solutions
Performance |
| Timeline |
| Trigano SA |
| Impulse Fitness Solutions |
Trigano SA and Impulse Fitness Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Trigano SA and Impulse Fitness
The main advantage of trading using opposite Trigano SA and Impulse Fitness positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Trigano SA position performs unexpectedly, Impulse Fitness 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 Impulse Fitness will offset losses from the drop in Impulse Fitness' long position.| Trigano SA vs. Invibes Advertising NV | Trigano SA vs. Sidetrade | Trigano SA vs. Eutelsat Communications SA | Trigano SA vs. Groupe Pizzorno Environnement |
| Impulse Fitness vs. Trigano SA | Impulse Fitness vs. Bonduelle SCA | Impulse Fitness vs. Imerys SA | Impulse Fitness vs. Manitou BF SA |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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