Correlation Between YOOMA WELLNESS and Alstria Office

Specify exactly 2 symbols:
Can any of the company-specific risk be diversified away by investing in both YOOMA WELLNESS and Alstria Office 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 YOOMA WELLNESS and Alstria Office into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between YOOMA WELLNESS INC and alstria office REIT AG, you can compare the effects of market volatilities on YOOMA WELLNESS and Alstria Office 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 YOOMA WELLNESS with a short position of Alstria Office. Check out your portfolio center. Please also check ongoing floating volatility patterns of YOOMA WELLNESS and Alstria Office.

Diversification Opportunities for YOOMA WELLNESS and Alstria Office

0.0
  Correlation Coefficient

Pay attention - limited upside

The 3 months correlation between YOOMA and Alstria is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding YOOMA WELLNESS INC and alstria office REIT AG in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on alstria office REIT and YOOMA WELLNESS 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 YOOMA WELLNESS INC are associated (or correlated) with Alstria Office. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of alstria office REIT has no effect on the direction of YOOMA WELLNESS i.e., YOOMA WELLNESS and Alstria Office go up and down completely randomly.

Pair Corralation between YOOMA WELLNESS and Alstria Office

If you would invest  354.00  in alstria office REIT AG on October 2, 2024 and sell it today you would earn a total of  414.00  from holding alstria office REIT AG or generate 116.95% return on investment over 90 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

YOOMA WELLNESS INC  vs.  alstria office REIT AG

 Performance 
       Timeline  
YOOMA WELLNESS INC 

Risk-Adjusted Performance

0 of 100

 
Weak
 
Strong
Very Weak
Over the last 90 days YOOMA WELLNESS INC has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable basic indicators, YOOMA WELLNESS is not utilizing all of its potentials. The newest stock price disturbance, may contribute to mid-run losses for the stockholders.
alstria office REIT 

Risk-Adjusted Performance

20 of 100

 
Weak
 
Strong
Solid
Compared to the overall equity markets, risk-adjusted returns on investments in alstria office REIT AG are ranked lower than 20 (%) of all global equities and portfolios over the last 90 days. Despite nearly unsteady basic indicators, Alstria Office reported solid returns over the last few months and may actually be approaching a breakup point.

YOOMA WELLNESS and Alstria Office Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with YOOMA WELLNESS and Alstria Office

The main advantage of trading using opposite YOOMA WELLNESS and Alstria Office positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if YOOMA WELLNESS position performs unexpectedly, Alstria Office 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 Alstria Office will offset losses from the drop in Alstria Office's long position.
The idea behind YOOMA WELLNESS INC and alstria office REIT AG 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.
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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.

Other Complementary Tools

Bond Analysis
Evaluate and analyze corporate bonds as a potential investment for your portfolios.
Portfolio Anywhere
Track or share privately all of your investments from the convenience of any device
Money Flow Index
Determine momentum by analyzing Money Flow Index and other technical indicators
Sign In To Macroaxis
Sign in to explore Macroaxis' wealth optimization platform and fintech modules
Theme Ratings
Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance