Correlation Between WIG 30 and Agroliga Group
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By analyzing existing cross correlation between WIG 30 and Agroliga Group PLC, you can compare the effects of market volatilities on WIG 30 and Agroliga Group 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 WIG 30 with a short position of Agroliga Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of WIG 30 and Agroliga Group.
Diversification Opportunities for WIG 30 and Agroliga Group
-0.16 | Correlation Coefficient |
Good diversification
The 3 months correlation between WIG and Agroliga is -0.16. Overlapping area represents the amount of risk that can be diversified away by holding WIG 30 and Agroliga Group PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Agroliga Group PLC and WIG 30 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 WIG 30 are associated (or correlated) with Agroliga Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Agroliga Group PLC has no effect on the direction of WIG 30 i.e., WIG 30 and Agroliga Group go up and down completely randomly.
Pair Corralation between WIG 30 and Agroliga Group
Assuming the 90 days trading horizon WIG 30 is expected to generate 0.45 times more return on investment than Agroliga Group. However, WIG 30 is 2.23 times less risky than Agroliga Group. It trades about 0.05 of its potential returns per unit of risk. Agroliga Group PLC is currently generating about 0.01 per unit of risk. If you would invest 213,276 in WIG 30 on August 24, 2024 and sell it today you would earn a total of 68,081 from holding WIG 30 or generate 31.92% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 87.47% |
| Values | Daily Returns |
WIG 30 vs. Agroliga Group PLC
Performance |
| Timeline |
WIG 30 and Agroliga Group Volatility Contrast
Predicted Return Density |
| Returns |
WIG 30
Pair trading matchups for WIG 30
Agroliga Group PLC
Pair trading matchups for Agroliga Group
Pair Trading with WIG 30 and Agroliga Group
The main advantage of trading using opposite WIG 30 and Agroliga Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if WIG 30 position performs unexpectedly, Agroliga Group 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 Agroliga Group will offset losses from the drop in Agroliga Group's long position.| WIG 30 vs. Intersport Polska SA | WIG 30 vs. Cloud Technologies SA | WIG 30 vs. GreenX Metals | WIG 30 vs. Mlk Foods Public |
| Agroliga Group vs. Skyline Investment SA | Agroliga Group vs. Kool2play SA | Agroliga Group vs. Medicofarma Biotech SA | Agroliga Group vs. SOFTWARE MANSION SPOLKA |
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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
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