Correlation Between Clasquin and Jacques Bogart

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

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

Diversification Opportunities for Clasquin and Jacques Bogart

-0.63

Correlation Coefficient

Clasquin  Jacques Bogart

Excellent diversification

The 3 months correlation between Clasquin and Jacques is -0.63. Overlapping area represents the amount of risk that can be diversified away by holding Clasquin and Jacques Bogart SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jacques Bogart SA and Clasquin 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 Clasquin are associated (or correlated) with Jacques Bogart. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jacques Bogart SA has no effect on the direction of Clasquin i.e., Clasquin and Jacques Bogart go up and down completely randomly.

Pair Corralation between Clasquin and Jacques Bogart

Assuming the 90 days trading horizon Clasquin is expected to generate 0.12 times more return on investment than Jacques Bogart. However, Clasquin is 8.6 times less risky than Jacques Bogart. It trades about 0.0 of its potential returns per unit of risk. Jacques Bogart SA is currently generating about -0.04 per unit of risk. If you would invest  14,195  in Clasquin on October 9, 2024 and sell it today you would lose (1.00) from holding Clasquin or give up 0.01% of portfolio value over 90 days.

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

Clasquin  vs.  Jacques Bogart SA

Clasquin

Risk-Adjusted Performance

6 of 100

Modest

Compared to the overall equity markets, risk-adjusted returns on investments in Clasquin are ranked lower than 6 (%) of all global equities and portfolios over the last 90 days. Even with relatively invariable basic indicators, Clasquin is not utilizing all of its potentials. The latest stock price agitation, may contribute to short-term losses for the retail investors.

Jacques Bogart SA

Risk-Adjusted Performance

0 of 100

Very Weak

Over the last 90 days Jacques Bogart SA has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest weak performance, the Stock's basic indicators remain strong and the current disturbance on Wall Street may also be a sign of long term gains for the company investors.

Pair Trading with Clasquin and Jacques Bogart

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

The idea behind Clasquin and Jacques Bogart 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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.