Correlation Between Igoria Trade and CCC SA

Can any of the company-specific risk be diversified away by investing in both Igoria Trade and CCC SA 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 Igoria Trade and CCC SA into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Igoria Trade SA and CCC SA, you can compare the effects of market volatilities on Igoria Trade and CCC SA 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 Igoria Trade with a short position of CCC SA. Check out your portfolio center. Please also check ongoing floating volatility patterns of Igoria Trade and CCC SA.

Diversification Opportunities for Igoria Trade and CCC SA

0.26

Correlation Coefficient

Igoria Trade  CCC SA

Modest diversification

The 3 months correlation between Igoria and CCC is 0.26. Overlapping area represents the amount of risk that can be diversified away by holding Igoria Trade SA and CCC SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CCC SA and Igoria Trade 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 Igoria Trade SA are associated (or correlated) with CCC SA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CCC SA has no effect on the direction of Igoria Trade i.e., Igoria Trade and CCC SA go up and down completely randomly.

Pair Corralation between Igoria Trade and CCC SA

Assuming the 90 days trading horizon Igoria Trade SA is expected to generate 1.62 times more return on investment than CCC SA. However, Igoria Trade is 1.62 times more volatile than CCC SA. It trades about 0.02 of its potential returns per unit of risk. CCC SA is currently generating about -0.04 per unit of risk. If you would invest  21.00  in Igoria Trade SA on April 24, 2025 and sell it today you would earn a total of  0.00  from holding Igoria Trade SA or generate 0.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Very Weak
Accuracy	95.16%
Values	Daily Returns

Igoria Trade SA  vs.  CCC SA

Igoria Trade SA

Risk-Adjusted Performance

Insignificant

Compared to the overall equity markets, risk-adjusted returns on investments in Igoria Trade SA are ranked lower than 1 (%) of all global equities and portfolios over the last 90 days. Even with relatively weak basic indicators, Igoria Trade may actually be approaching a critical reversion point that can send shares even higher in August 2025.

CCC SA

Risk-Adjusted Performance

Very Weak

Over the last 90 days CCC SA has generated negative risk-adjusted returns adding no value to investors with long positions. Even with latest weak performance, the Stock's basic indicators remain invariable and the latest agitation on Wall Street may also be a sign of long-running gains for the enterprise retail investors.

Pair Trading with Igoria Trade and CCC SA

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

The idea behind Igoria Trade SA and CCC SA 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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.