Correlation Between Volkswagen and KONTIGO CARE
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By analyzing existing cross correlation between Volkswagen AG VZO and KONTIGO CARE AB, you can compare the effects of market volatilities on Volkswagen and KONTIGO CARE 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 Volkswagen with a short position of KONTIGO CARE. Check out your portfolio center. Please also check ongoing floating volatility patterns of Volkswagen and KONTIGO CARE.
Diversification Opportunities for Volkswagen and KONTIGO CARE
-0.43 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Volkswagen and KONTIGO is -0.43. Overlapping area represents the amount of risk that can be diversified away by holding Volkswagen AG VZO and KONTIGO CARE AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KONTIGO CARE AB and Volkswagen 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 Volkswagen AG VZO are associated (or correlated) with KONTIGO CARE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KONTIGO CARE AB has no effect on the direction of Volkswagen i.e., Volkswagen and KONTIGO CARE go up and down completely randomly.
Pair Corralation between Volkswagen and KONTIGO CARE
Assuming the 90 days trading horizon Volkswagen AG VZO is expected to generate 0.13 times more return on investment than KONTIGO CARE. However, Volkswagen AG VZO is 7.46 times less risky than KONTIGO CARE. It trades about 0.07 of its potential returns per unit of risk. KONTIGO CARE AB is currently generating about -0.05 per unit of risk. If you would invest 8,454 in Volkswagen AG VZO on September 12, 2024 and sell it today you would earn a total of 156.00 from holding Volkswagen AG VZO or generate 1.85% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Volkswagen AG VZO vs. KONTIGO CARE AB
Performance |
| Timeline |
| Volkswagen AG VZO |
| KONTIGO CARE AB |
Volkswagen and KONTIGO CARE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Volkswagen and KONTIGO CARE
The main advantage of trading using opposite Volkswagen and KONTIGO CARE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Volkswagen position performs unexpectedly, KONTIGO CARE 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 KONTIGO CARE will offset losses from the drop in KONTIGO CARE's long position.| Volkswagen vs. PKSHA TECHNOLOGY INC | Volkswagen vs. USWE SPORTS AB | Volkswagen vs. X FAB Silicon Foundries | Volkswagen vs. ANTA SPORTS PRODUCT |
| KONTIGO CARE vs. BLUESCOPE STEEL | KONTIGO CARE vs. Strategic Education | KONTIGO CARE vs. CHINA EDUCATION GROUP | KONTIGO CARE vs. Caltagirone SpA |
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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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