Correlation Between WIG 30 and Izolacja Jarocin
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By analyzing existing cross correlation between WIG 30 and Izolacja Jarocin SA, you can compare the effects of market volatilities on WIG 30 and Izolacja Jarocin 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 Izolacja Jarocin. Check out your portfolio center. Please also check ongoing floating volatility patterns of WIG 30 and Izolacja Jarocin.
Diversification Opportunities for WIG 30 and Izolacja Jarocin
0.19 | Correlation Coefficient |
Average diversification
The 3 months correlation between WIG and Izolacja is 0.19. Overlapping area represents the amount of risk that can be diversified away by holding WIG 30 and Izolacja Jarocin SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Izolacja Jarocin 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 Izolacja Jarocin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Izolacja Jarocin has no effect on the direction of WIG 30 i.e., WIG 30 and Izolacja Jarocin go up and down completely randomly.
Pair Corralation between WIG 30 and Izolacja Jarocin
Assuming the 90 days trading horizon WIG 30 is expected to generate 2.33 times less return on investment than Izolacja Jarocin. But when comparing it to its historical volatility, WIG 30 is 3.13 times less risky than Izolacja Jarocin. It trades about 0.05 of its potential returns per unit of risk. Izolacja Jarocin SA is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 217.00 in Izolacja Jarocin SA on August 29, 2024 and sell it today you would earn a total of 113.00 from holding Izolacja Jarocin SA or generate 52.07% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
WIG 30 vs. Izolacja Jarocin SA
Performance |
| Timeline |
WIG 30 and Izolacja Jarocin Volatility Contrast
Predicted Return Density |
| Returns |
WIG 30
Pair trading matchups for WIG 30
Izolacja Jarocin SA
Pair trading matchups for Izolacja Jarocin
Pair Trading with WIG 30 and Izolacja Jarocin
The main advantage of trading using opposite WIG 30 and Izolacja Jarocin positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if WIG 30 position performs unexpectedly, Izolacja Jarocin 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 Izolacja Jarocin will offset losses from the drop in Izolacja Jarocin's long position.| WIG 30 vs. Igoria Trade SA | WIG 30 vs. Varsav Game Studios | WIG 30 vs. PZ Cormay SA | WIG 30 vs. Mlk Foods Public |
| Izolacja Jarocin vs. Banco Santander SA | Izolacja Jarocin vs. UniCredit SpA | Izolacja Jarocin vs. CEZ as | Izolacja Jarocin vs. Polski Koncern Naftowy |
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 Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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