Correlation Between Cint Group and Bonesupport Holding

Can any of the company-specific risk be diversified away by investing in both Cint Group and Bonesupport Holding 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 Cint Group and Bonesupport Holding into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Cint Group AB and Bonesupport Holding AB, you can compare the effects of market volatilities on Cint Group and Bonesupport Holding 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 Cint Group with a short position of Bonesupport Holding. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cint Group and Bonesupport Holding.

Diversification Opportunities for Cint Group and Bonesupport Holding

0.02

Correlation Coefficient

Cint Group  Bonesupport Holding

Significant diversification

The 3 months correlation between Cint and Bonesupport is 0.02. Overlapping area represents the amount of risk that can be diversified away by holding Cint Group AB and Bonesupport Holding AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bonesupport Holding and Cint Group 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 Cint Group AB are associated (or correlated) with Bonesupport Holding. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bonesupport Holding has no effect on the direction of Cint Group i.e., Cint Group and Bonesupport Holding go up and down completely randomly.

Pair Corralation between Cint Group and Bonesupport Holding

Assuming the 90 days trading horizon Cint Group AB is expected to generate 1.24 times more return on investment than Bonesupport Holding. However, Cint Group is 1.24 times more volatile than Bonesupport Holding AB. It trades about 0.04 of its potential returns per unit of risk. Bonesupport Holding AB is currently generating about 0.01 per unit of risk. If you would invest  682.00  in Cint Group AB on April 23, 2025 and sell it today you would earn a total of  38.00  from holding Cint Group AB or generate 5.57% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Insignificant
Accuracy	100.0%
Values	Daily Returns

Cint Group AB  vs.  Bonesupport Holding AB

Cint Group AB

Risk-Adjusted Performance

Insignificant

Compared to the overall equity markets, risk-adjusted returns on investments in Cint Group AB are ranked lower than 3 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively uncertain basic indicators, Cint Group may actually be approaching a critical reversion point that can send shares even higher in August 2025.

Bonesupport Holding

Risk-Adjusted Performance

Very Weak

Over the last 90 days Bonesupport Holding AB has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of comparatively stable basic indicators, Bonesupport Holding is not utilizing all of its potentials. The current stock price uproar, may contribute to short-horizon losses for the private investors.

Pair Trading with Cint Group and Bonesupport Holding

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

The idea behind Cint Group AB and Bonesupport Holding AB 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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.