Correlation Between Athens General and Trastor Real
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By analyzing existing cross correlation between Athens General Composite and Trastor Real Estate, you can compare the effects of market volatilities on Athens General and Trastor Real 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 General with a short position of Trastor Real. Check out your portfolio center. Please also check ongoing floating volatility patterns of Athens General and Trastor Real.
Diversification Opportunities for Athens General and Trastor Real
-0.39 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Athens and Trastor is -0.39. Overlapping area represents the amount of risk that can be diversified away by holding Athens General Composite and Trastor Real Estate in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Trastor Real Estate and Athens General 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 General Composite are associated (or correlated) with Trastor Real. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Trastor Real Estate has no effect on the direction of Athens General i.e., Athens General and Trastor Real go up and down completely randomly.
Pair Corralation between Athens General and Trastor Real
Assuming the 90 days trading horizon Athens General is expected to generate 1.35 times less return on investment than Trastor Real. But when comparing it to its historical volatility, Athens General Composite is 3.02 times less risky than Trastor Real. It trades about 0.17 of its potential returns per unit of risk. Trastor Real Estate is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest 114.00 in Trastor Real Estate on February 1, 2024 and sell it today you would earn a total of 5.00 from holding Trastor Real Estate or generate 4.39% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
Athens General Composite vs. Trastor Real Estate
Performance |
Timeline |
Athens General and Trastor Real Volatility Contrast
Predicted Return Density |
Returns |
Athens General Composite
Pair trading matchups for Athens General
Trastor Real Estate
Pair trading matchups for Trastor Real
Pair Trading with Athens General and Trastor Real
The main advantage of trading using opposite Athens General and Trastor Real positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Athens General position performs unexpectedly, Trastor Real 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 Trastor Real will offset losses from the drop in Trastor Real's long position.Athens General vs. Daios Plastics SA | Athens General vs. Elton International Trading | Athens General vs. Hellenic Telecommunications Organization | Athens General vs. Logismos Information Systems |
Trastor Real vs. Foodlink AE | Trastor Real vs. Interlife General Insurance | Trastor Real vs. Hellenic Telecommunications Organization | Trastor Real vs. Karelia Tobacco |
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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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