Correlation Between WIG 30 and Powszechny Zaklad
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By analyzing existing cross correlation between WIG 30 and Powszechny Zaklad Ubezpieczen, you can compare the effects of market volatilities on WIG 30 and Powszechny Zaklad 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 Powszechny Zaklad. Check out your portfolio center. Please also check ongoing floating volatility patterns of WIG 30 and Powszechny Zaklad.
Diversification Opportunities for WIG 30 and Powszechny Zaklad
0.47 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between WIG and Powszechny is 0.47. Overlapping area represents the amount of risk that can be diversified away by holding WIG 30 and Powszechny Zaklad Ubezpieczen in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Powszechny Zaklad 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 Powszechny Zaklad. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Powszechny Zaklad has no effect on the direction of WIG 30 i.e., WIG 30 and Powszechny Zaklad go up and down completely randomly.
Pair Corralation between WIG 30 and Powszechny Zaklad
Assuming the 90 days trading horizon WIG 30 is expected to under-perform the Powszechny Zaklad. But the index apears to be less risky and, when comparing its historical volatility, WIG 30 is 1.6 times less risky than Powszechny Zaklad. The index trades about -0.12 of its potential returns per unit of risk. The Powszechny Zaklad Ubezpieczen is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest 4,364 in Powszechny Zaklad Ubezpieczen on September 2, 2024 and sell it today you would earn a total of 56.00 from holding Powszechny Zaklad Ubezpieczen or generate 1.28% 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. Powszechny Zaklad Ubezpieczen
Performance |
| Timeline |
WIG 30 and Powszechny Zaklad Volatility Contrast
Predicted Return Density |
| Returns |
WIG 30
Pair trading matchups for WIG 30
Powszechny Zaklad Ubezpieczen
Pair trading matchups for Powszechny Zaklad
Pair Trading with WIG 30 and Powszechny Zaklad
The main advantage of trading using opposite WIG 30 and Powszechny Zaklad positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if WIG 30 position performs unexpectedly, Powszechny Zaklad 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 Powszechny Zaklad will offset losses from the drop in Powszechny Zaklad's long position.| WIG 30 vs. Skyline Investment SA | WIG 30 vs. CI Games SA | WIG 30 vs. Echo Investment SA | WIG 30 vs. Varsav Game Studios |
| Powszechny Zaklad vs. Live Motion Games | Powszechny Zaklad vs. Echo Investment SA | Powszechny Zaklad vs. Alior Bank SA | Powszechny Zaklad vs. Tower Investments 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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
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