Correlation Between Wiener Privatbank and Gurktaler Aktiengesellscha
Can any of the company-specific risk be diversified away by investing in both Wiener Privatbank and Gurktaler Aktiengesellscha 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 Gurktaler Aktiengesellscha 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 Gurktaler Aktiengesellschaft, you can compare the effects of market volatilities on Wiener Privatbank and Gurktaler Aktiengesellscha 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 Gurktaler Aktiengesellscha. Check out your portfolio center. Please also check ongoing floating volatility patterns of Wiener Privatbank and Gurktaler Aktiengesellscha.
Diversification Opportunities for Wiener Privatbank and Gurktaler Aktiengesellscha
-0.12 | Correlation Coefficient |
Good diversification
The 3 months correlation between Wiener and Gurktaler is -0.12. Overlapping area represents the amount of risk that can be diversified away by holding Wiener Privatbank SE and Gurktaler Aktiengesellschaft in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gurktaler Aktiengesellscha 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 Gurktaler Aktiengesellscha. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gurktaler Aktiengesellscha has no effect on the direction of Wiener Privatbank i.e., Wiener Privatbank and Gurktaler Aktiengesellscha go up and down completely randomly.
Pair Corralation between Wiener Privatbank and Gurktaler Aktiengesellscha
If you would invest 765.00 in Wiener Privatbank SE on September 2, 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 | 100.0% |
| Values | Daily Returns |
Wiener Privatbank SE vs. Gurktaler Aktiengesellschaft
Performance |
| Timeline |
| Wiener Privatbank |
| Gurktaler Aktiengesellscha |
Wiener Privatbank and Gurktaler Aktiengesellscha Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Wiener Privatbank and Gurktaler Aktiengesellscha
The main advantage of trading using opposite Wiener Privatbank and Gurktaler Aktiengesellscha positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Wiener Privatbank position performs unexpectedly, Gurktaler Aktiengesellscha 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 Gurktaler Aktiengesellscha will offset losses from the drop in Gurktaler Aktiengesellscha's long position.| Wiener Privatbank vs. Addiko Bank AG | Wiener Privatbank vs. Vienna Insurance Group | Wiener Privatbank vs. Oberbank AG |
| Gurktaler Aktiengesellscha vs. Wiener Privatbank SE | Gurktaler Aktiengesellscha vs. AMAG Austria Metall | Gurktaler Aktiengesellscha vs. Erste Group Bank | Gurktaler Aktiengesellscha vs. BKS Bank 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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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