Correlation Between Wiener Privatbank and Exor NV
Can any of the company-specific risk be diversified away by investing in both Wiener Privatbank and Exor NV at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Wiener Privatbank and Exor NV into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Wiener Privatbank SE and Exor NV, you can compare the effects of market volatilities on Wiener Privatbank and Exor NV 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 Wiener Privatbank with a short position of Exor NV. Check out your portfolio center. Please also check ongoing floating volatility patterns of Wiener Privatbank and Exor NV.
Diversification Opportunities for Wiener Privatbank and Exor NV
-0.13 | Correlation Coefficient |
Good diversification
The 3 months correlation between Wiener and Exor is -0.13. Overlapping area represents the amount of risk that can be diversified away by holding Wiener Privatbank SE and Exor NV in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Exor NV and Wiener Privatbank 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 Wiener Privatbank SE are associated (or correlated) with Exor NV. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Exor NV has no effect on the direction of Wiener Privatbank i.e., Wiener Privatbank and Exor NV go up and down completely randomly.
Pair Corralation between Wiener Privatbank and Exor NV
If you would invest 765.00 in Wiener Privatbank SE on September 1, 2024 and sell it today you would earn a total of 0.00 from holding Wiener Privatbank SE or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.65% |
| Values | Daily Returns |
Wiener Privatbank SE vs. Exor NV
Performance |
| Timeline |
| Wiener Privatbank |
| Exor NV |
Wiener Privatbank and Exor NV Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Wiener Privatbank and Exor NV
The main advantage of trading using opposite Wiener Privatbank and Exor NV positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Wiener Privatbank position performs unexpectedly, Exor NV 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 Exor NV will offset losses from the drop in Exor NV's long position.| Wiener Privatbank vs. Raiffeisen Bank International | Wiener Privatbank vs. Addiko Bank AG | Wiener Privatbank vs. RATH Aktiengesellschaft | Wiener Privatbank vs. Oesterr Post AG |
| Exor NV vs. RATH Aktiengesellschaft | Exor NV vs. Semperit Aktiengesellschaft Holding | Exor NV vs. Telekom Austria AG | Exor NV vs. Oesterr Post AG |
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 Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
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