Correlation Between ATHENS INTERNATIONAL and Logismos Information

Can any of the company-specific risk be diversified away by investing in both ATHENS INTERNATIONAL and Logismos Information 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 ATHENS INTERNATIONAL and Logismos Information into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between ATHENS INTERNATIONAL AIRPORT and Logismos Information Systems, you can compare the effects of market volatilities on ATHENS INTERNATIONAL and Logismos Information 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 ATHENS INTERNATIONAL with a short position of Logismos Information. Check out your portfolio center. Please also check ongoing floating volatility patterns of ATHENS INTERNATIONAL and Logismos Information.

Diversification Opportunities for ATHENS INTERNATIONAL and Logismos Information

0.8

Correlation Coefficient

ATHENS INTERNATIONAL  Logismos Information

Very poor diversification

The 3 months correlation between ATHENS and Logismos is 0.8. Overlapping area represents the amount of risk that can be diversified away by holding ATHENS INTERNATIONAL AIRPORT and Logismos Information Systems in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Logismos Information and ATHENS INTERNATIONAL 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 ATHENS INTERNATIONAL AIRPORT are associated (or correlated) with Logismos Information. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Logismos Information has no effect on the direction of ATHENS INTERNATIONAL i.e., ATHENS INTERNATIONAL and Logismos Information go up and down completely randomly.

Pair Corralation between ATHENS INTERNATIONAL and Logismos Information

Assuming the 90 days trading horizon ATHENS INTERNATIONAL AIRPORT is expected to generate 1.53 times more return on investment than Logismos Information. However, ATHENS INTERNATIONAL is 1.53 times more volatile than Logismos Information Systems. It trades about 0.14 of its potential returns per unit of risk. Logismos Information Systems is currently generating about 0.11 per unit of risk. If you would invest  895.00  in ATHENS INTERNATIONAL AIRPORT on April 21, 2025 and sell it today you would earn a total of  100.00  from holding ATHENS INTERNATIONAL AIRPORT or generate 11.17% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Strong
Accuracy	98.41%
Values	Daily Returns

ATHENS INTERNATIONAL AIRPORT  vs.  Logismos Information Systems

ATHENS INTERNATIONAL

Risk-Adjusted Performance

OK

Compared to the overall equity markets, risk-adjusted returns on investments in ATHENS INTERNATIONAL AIRPORT are ranked lower than 10 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively uncertain basic indicators, ATHENS INTERNATIONAL may actually be approaching a critical reversion point that can send shares even higher in August 2025.

Logismos Information

Risk-Adjusted Performance

OK

Compared to the overall equity markets, risk-adjusted returns on investments in Logismos Information Systems are ranked lower than 8 (%) of all global equities and portfolios over the last 90 days. In spite of very healthy basic indicators, Logismos Information is not utilizing all of its potentials. The current stock price disarray, may contribute to short-term losses for the investors.

Pair Trading with ATHENS INTERNATIONAL and Logismos Information

The main advantage of trading using opposite ATHENS INTERNATIONAL and Logismos Information positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ATHENS INTERNATIONAL position performs unexpectedly, Logismos Information 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 Logismos Information will offset losses from the drop in Logismos Information's long position.

The idea behind ATHENS INTERNATIONAL AIRPORT and Logismos Information Systems pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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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 Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.