Correlation Between Corporate Office and Hugo Boss
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By analyzing existing cross correlation between Corporate Office Properties and Hugo Boss AG, you can compare the effects of market volatilities on Corporate Office and Hugo Boss 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 Corporate Office with a short position of Hugo Boss. Check out your portfolio center. Please also check ongoing floating volatility patterns of Corporate Office and Hugo Boss.
Diversification Opportunities for Corporate Office and Hugo Boss
-0.45 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Corporate and Hugo is -0.45. Overlapping area represents the amount of risk that can be diversified away by holding Corporate Office Properties and Hugo Boss AG in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hugo Boss AG and Corporate Office 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 Corporate Office Properties are associated (or correlated) with Hugo Boss. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hugo Boss AG has no effect on the direction of Corporate Office i.e., Corporate Office and Hugo Boss go up and down completely randomly.
Pair Corralation between Corporate Office and Hugo Boss
Assuming the 90 days horizon Corporate Office Properties is expected to generate 0.49 times more return on investment than Hugo Boss. However, Corporate Office Properties is 2.04 times less risky than Hugo Boss. It trades about 0.13 of its potential returns per unit of risk. Hugo Boss AG is currently generating about -0.01 per unit of risk. If you would invest 2,089 in Corporate Office Properties on October 25, 2024 and sell it today you would earn a total of 771.00 from holding Corporate Office Properties or generate 36.91% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Corporate Office Properties vs. Hugo Boss AG
Performance |
| Timeline |
| Corporate Office Pro |
| Hugo Boss AG |
Corporate Office and Hugo Boss Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Corporate Office and Hugo Boss
The main advantage of trading using opposite Corporate Office and Hugo Boss positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Corporate Office position performs unexpectedly, Hugo Boss 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 Hugo Boss will offset losses from the drop in Hugo Boss' long position.| Corporate Office vs. Thai Beverage Public | Corporate Office vs. Perseus Mining Limited | Corporate Office vs. NAKED WINES PLC | Corporate Office vs. Forsys Metals Corp |
| Hugo Boss vs. VIRGIN WINES UK | Hugo Boss vs. Yuexiu Transport Infrastructure | Hugo Boss vs. PLAY2CHILL SA ZY | Hugo Boss vs. ePlay Digital |
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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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