Correlation Between Vogiatzoglou Systems and Intralot
Can any of the company-specific risk be diversified away by investing in both Vogiatzoglou Systems and Intralot 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 Vogiatzoglou Systems and Intralot into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Vogiatzoglou Systems SA and Intralot SA Integrated, you can compare the effects of market volatilities on Vogiatzoglou Systems and Intralot 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 Vogiatzoglou Systems with a short position of Intralot. Check out your portfolio center. Please also check ongoing floating volatility patterns of Vogiatzoglou Systems and Intralot.
Diversification Opportunities for Vogiatzoglou Systems and Intralot
0.81 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Vogiatzoglou and Intralot is 0.81. Overlapping area represents the amount of risk that can be diversified away by holding Vogiatzoglou Systems SA and Intralot SA Integrated in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Intralot SA Integrated and Vogiatzoglou Systems 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 Vogiatzoglou Systems SA are associated (or correlated) with Intralot. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Intralot SA Integrated has no effect on the direction of Vogiatzoglou Systems i.e., Vogiatzoglou Systems and Intralot go up and down completely randomly.
Pair Corralation between Vogiatzoglou Systems and Intralot
Assuming the 90 days trading horizon Vogiatzoglou Systems SA is expected to generate 1.98 times more return on investment than Intralot. However, Vogiatzoglou Systems is 1.98 times more volatile than Intralot SA Integrated. It trades about 0.08 of its potential returns per unit of risk. Intralot SA Integrated is currently generating about 0.04 per unit of risk. If you would invest 230.00 in Vogiatzoglou Systems SA on November 5, 2024 and sell it today you would earn a total of 8.00 from holding Vogiatzoglou Systems SA or generate 3.48% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Vogiatzoglou Systems SA vs. Intralot SA Integrated
Performance |
| Timeline |
| Vogiatzoglou Systems |
| Intralot SA Integrated |
Vogiatzoglou Systems and Intralot Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Vogiatzoglou Systems and Intralot
The main advantage of trading using opposite Vogiatzoglou Systems and Intralot positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Vogiatzoglou Systems position performs unexpectedly, Intralot 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 Intralot will offset losses from the drop in Intralot's long position.| Vogiatzoglou Systems vs. General Commercial Industrial | Vogiatzoglou Systems vs. Technical Olympic SA | Vogiatzoglou Systems vs. Bank of Greece | Vogiatzoglou Systems vs. Marfin Investment Group |
| Intralot vs. Greek Organization of | Intralot vs. Public Power | Intralot vs. Mytilineos SA | Intralot vs. Hellenic Telecommunications Organization |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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