Correlation Between Vastned Retail and Bet-at-home
Can any of the company-specific risk be diversified away by investing in both Vastned Retail and Bet-at-home 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 Vastned Retail and Bet-at-home into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Vastned Retail NV and bet at home AG, you can compare the effects of market volatilities on Vastned Retail and Bet-at-home 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 Vastned Retail with a short position of Bet-at-home. Check out your portfolio center. Please also check ongoing floating volatility patterns of Vastned Retail and Bet-at-home.
Diversification Opportunities for Vastned Retail and Bet-at-home
-0.33 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Vastned and Bet-at-home is -0.33. Overlapping area represents the amount of risk that can be diversified away by holding Vastned Retail NV and bet at home AG in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on bet at home and Vastned Retail 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 Vastned Retail NV are associated (or correlated) with Bet-at-home. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of bet at home has no effect on the direction of Vastned Retail i.e., Vastned Retail and Bet-at-home go up and down completely randomly.
Pair Corralation between Vastned Retail and Bet-at-home
Assuming the 90 days horizon Vastned Retail NV is expected to generate 0.43 times more return on investment than Bet-at-home. However, Vastned Retail NV is 2.34 times less risky than Bet-at-home. It trades about 0.07 of its potential returns per unit of risk. bet at home AG is currently generating about -0.03 per unit of risk. If you would invest 1,794 in Vastned Retail NV on August 31, 2024 and sell it today you would earn a total of 626.00 from holding Vastned Retail NV or generate 34.89% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.74% |
| Values | Daily Returns |
Vastned Retail NV vs. bet at home AG
Performance |
| Timeline |
| Vastned Retail NV |
| bet at home |
Vastned Retail and Bet-at-home Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Vastned Retail and Bet-at-home
The main advantage of trading using opposite Vastned Retail and Bet-at-home positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Vastned Retail position performs unexpectedly, Bet-at-home 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 Bet-at-home will offset losses from the drop in Bet-at-home's long position.| Vastned Retail vs. Superior Plus Corp | Vastned Retail vs. NMI Holdings | Vastned Retail vs. Origin Agritech | Vastned Retail vs. SIVERS SEMICONDUCTORS AB |
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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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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