Correlation Between WIG 30 and Aplisens
Specify exactly 2 symbols:
By analyzing existing cross correlation between WIG 30 and Aplisens SA, you can compare the effects of market volatilities on WIG 30 and Aplisens 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 Aplisens. Check out your portfolio center. Please also check ongoing floating volatility patterns of WIG 30 and Aplisens.
Diversification Opportunities for WIG 30 and Aplisens
Very weak diversification
The 3 months correlation between WIG and Aplisens is 0.48. Overlapping area represents the amount of risk that can be diversified away by holding WIG 30 and Aplisens SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Aplisens SA 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 Aplisens. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Aplisens SA has no effect on the direction of WIG 30 i.e., WIG 30 and Aplisens go up and down completely randomly.
Pair Corralation between WIG 30 and Aplisens
Assuming the 90 days trading horizon WIG 30 is expected to generate 0.69 times more return on investment than Aplisens. However, WIG 30 is 1.46 times less risky than Aplisens. It trades about 0.03 of its potential returns per unit of risk. Aplisens SA is currently generating about -0.12 per unit of risk. If you would invest 289,557 in WIG 30 on September 12, 2024 and sell it today you would earn a total of 4,910 from holding WIG 30 or generate 1.7% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
WIG 30 vs. Aplisens SA
Performance |
| Timeline |
WIG 30 and Aplisens Volatility Contrast
Predicted Return Density |
| Returns |
WIG 30
Pair trading matchups for WIG 30
Aplisens SA
Pair trading matchups for Aplisens
Pair Trading with WIG 30 and Aplisens
The main advantage of trading using opposite WIG 30 and Aplisens positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if WIG 30 position performs unexpectedly, Aplisens 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 Aplisens will offset losses from the drop in Aplisens' long position.| WIG 30 vs. Creotech Instruments SA | WIG 30 vs. PZ Cormay SA | WIG 30 vs. Quantum Software SA | WIG 30 vs. Monnari Trade SA |
| Aplisens vs. mBank SA | Aplisens vs. Skyline Investment SA | Aplisens vs. ING Bank lski | Aplisens vs. MW Trade 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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
Other Complementary Tools
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities | |
| Idea Analyzer Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas | |
| Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital |