Correlation Between WIG 30 and Kino Polska
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By analyzing existing cross correlation between WIG 30 and Kino Polska TV, you can compare the effects of market volatilities on WIG 30 and Kino Polska 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 Kino Polska. Check out your portfolio center. Please also check ongoing floating volatility patterns of WIG 30 and Kino Polska.
Diversification Opportunities for WIG 30 and Kino Polska
-0.13 | Correlation Coefficient |
Good diversification
The 3 months correlation between WIG and Kino is -0.13. Overlapping area represents the amount of risk that can be diversified away by holding WIG 30 and Kino Polska TV in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kino Polska TV 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 Kino Polska. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kino Polska TV has no effect on the direction of WIG 30 i.e., WIG 30 and Kino Polska go up and down completely randomly.
Pair Corralation between WIG 30 and Kino Polska
Assuming the 90 days trading horizon WIG 30 is expected to under-perform the Kino Polska. But the index apears to be less risky and, when comparing its historical volatility, WIG 30 is 1.48 times less risky than Kino Polska. The index trades about -0.1 of its potential returns per unit of risk. The Kino Polska TV is currently generating about 0.26 of returns per unit of risk over similar time horizon. If you would invest 1,770 in Kino Polska TV on August 30, 2024 and sell it today you would earn a total of 205.00 from holding Kino Polska TV or generate 11.58% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
WIG 30 vs. Kino Polska TV
Performance |
| Timeline |
WIG 30 and Kino Polska Volatility Contrast
Predicted Return Density |
| Returns |
WIG 30
Pair trading matchups for WIG 30
Kino Polska TV
Pair trading matchups for Kino Polska
Pair Trading with WIG 30 and Kino Polska
The main advantage of trading using opposite WIG 30 and Kino Polska positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if WIG 30 position performs unexpectedly, Kino Polska 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 Kino Polska will offset losses from the drop in Kino Polska's long position.| WIG 30 vs. Carlson Investments SA | WIG 30 vs. Quantum Software SA | WIG 30 vs. BNP Paribas Bank | WIG 30 vs. PLAYWAY SA |
| Kino Polska vs. GreenX Metals | Kino Polska vs. Tower Investments SA | Kino Polska vs. Intersport Polska SA | Kino Polska vs. Mlk Foods Public |
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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