Correlation Between WIG 30 and Komputronik
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By analyzing existing cross correlation between WIG 30 and Komputronik SA, you can compare the effects of market volatilities on WIG 30 and Komputronik 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 Komputronik. Check out your portfolio center. Please also check ongoing floating volatility patterns of WIG 30 and Komputronik.
Diversification Opportunities for WIG 30 and Komputronik
0.61 | Correlation Coefficient |
Poor diversification
The 3 months correlation between WIG and Komputronik is 0.61. Overlapping area represents the amount of risk that can be diversified away by holding WIG 30 and Komputronik SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Komputronik 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 Komputronik. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Komputronik SA has no effect on the direction of WIG 30 i.e., WIG 30 and Komputronik go up and down completely randomly.
Pair Corralation between WIG 30 and Komputronik
Assuming the 90 days trading horizon WIG 30 is expected to generate 0.48 times more return on investment than Komputronik. However, WIG 30 is 2.1 times less risky than Komputronik. It trades about 0.0 of its potential returns per unit of risk. Komputronik SA is currently generating about -0.01 per unit of risk. If you would invest 286,446 in WIG 30 on September 3, 2024 and sell it today you would lose (5,566) from holding WIG 30 or give up 1.94% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
WIG 30 vs. Komputronik SA
Performance |
| Timeline |
WIG 30 and Komputronik Volatility Contrast
Predicted Return Density |
| Returns |
WIG 30
Pair trading matchups for WIG 30
Komputronik SA
Pair trading matchups for Komputronik
Pair Trading with WIG 30 and Komputronik
The main advantage of trading using opposite WIG 30 and Komputronik positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if WIG 30 position performs unexpectedly, Komputronik 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 Komputronik will offset losses from the drop in Komputronik's long position.| WIG 30 vs. Biztech Konsulting SA | WIG 30 vs. ING Bank lski | WIG 30 vs. Marie Brizard Wine | WIG 30 vs. Kool2play SA |
| Komputronik vs. Banco Santander SA | Komputronik vs. UniCredit SpA | Komputronik vs. CEZ as | Komputronik 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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
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