Correlation Between Ebusco Holding and Accsys Technologies

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

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

Diversification Opportunities for Ebusco Holding and Accsys Technologies

0.33

Correlation Coefficient

Ebusco Holding  Accsys Technologies

Weak diversification

The 3 months correlation between Ebusco and Accsys is 0.33. Overlapping area represents the amount of risk that can be diversified away by holding Ebusco Holding BV and Accsys Technologies in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Accsys Technologies and Ebusco Holding 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 Ebusco Holding BV are associated (or correlated) with Accsys Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Accsys Technologies has no effect on the direction of Ebusco Holding i.e., Ebusco Holding and Accsys Technologies go up and down completely randomly.

Pair Corralation between Ebusco Holding and Accsys Technologies

Assuming the 90 days trading horizon Ebusco Holding BV is expected to generate 3.98 times more return on investment than Accsys Technologies. However, Ebusco Holding is 3.98 times more volatile than Accsys Technologies. It trades about 0.08 of its potential returns per unit of risk. Accsys Technologies is currently generating about 0.15 per unit of risk. If you would invest  36.00  in Ebusco Holding BV on April 22, 2025 and sell it today you would earn a total of  5.00  from holding Ebusco Holding BV or generate 13.89% return on investment over 90 days.

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

Ebusco Holding BV  vs.  Accsys Technologies

Ebusco Holding BV

Risk-Adjusted Performance

Modest

Compared to the overall equity markets, risk-adjusted returns on investments in Ebusco Holding BV are ranked lower than 6 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively weak basic indicators, Ebusco Holding unveiled solid returns over the last few months and may actually be approaching a breakup point.

Accsys Technologies

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Accsys Technologies are ranked lower than 11 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively uncertain basic indicators, Accsys Technologies unveiled solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Ebusco Holding and Accsys Technologies

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

The idea behind Ebusco Holding BV and Accsys Technologies 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 Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.