Correlation Between WIG 30 and Apator SA
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By analyzing existing cross correlation between WIG 30 and Apator SA, you can compare the effects of market volatilities on WIG 30 and Apator SA 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 Apator SA. Check out your portfolio center. Please also check ongoing floating volatility patterns of WIG 30 and Apator SA.
Diversification Opportunities for WIG 30 and Apator SA
Poor diversification
The 3 months correlation between WIG and Apator is 0.68. Overlapping area represents the amount of risk that can be diversified away by holding WIG 30 and Apator SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Apator 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 Apator SA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Apator SA has no effect on the direction of WIG 30 i.e., WIG 30 and Apator SA go up and down completely randomly.
Pair Corralation between WIG 30 and Apator SA
Assuming the 90 days trading horizon WIG 30 is expected to generate 0.93 times more return on investment than Apator SA. However, WIG 30 is 1.07 times less risky than Apator SA. It trades about 0.01 of its potential returns per unit of risk. Apator SA is currently generating about -0.16 per unit of risk. If you would invest 280,308 in WIG 30 on September 1, 2024 and sell it today you would earn a total of 572.00 from holding WIG 30 or generate 0.2% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 95.24% |
| Values | Daily Returns |
WIG 30 vs. Apator SA
Performance |
| Timeline |
WIG 30 and Apator SA Volatility Contrast
Predicted Return Density |
| Returns |
WIG 30
Pair trading matchups for WIG 30
Apator SA
Pair trading matchups for Apator SA
Pair Trading with WIG 30 and Apator SA
The main advantage of trading using opposite WIG 30 and Apator SA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if WIG 30 position performs unexpectedly, Apator SA 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 Apator SA will offset losses from the drop in Apator SA's long position.| WIG 30 vs. ING Bank lski | WIG 30 vs. LSI Software SA | WIG 30 vs. Quantum Software SA | WIG 30 vs. GreenX Metals |
| Apator SA vs. Esotiq Henderson SA | Apator SA vs. Echo Investment SA | Apator SA vs. Asseco South Eastern | Apator SA vs. Vercom 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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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