Correlation Between ALBIS LEASING and Sixt SE
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By analyzing existing cross correlation between ALBIS LEASING AG and Sixt SE, you can compare the effects of market volatilities on ALBIS LEASING and Sixt SE 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 ALBIS LEASING with a short position of Sixt SE. Check out your portfolio center. Please also check ongoing floating volatility patterns of ALBIS LEASING and Sixt SE.
Diversification Opportunities for ALBIS LEASING and Sixt SE
0.74 | Correlation Coefficient |
Poor diversification
The 3 months correlation between ALBIS and Sixt is 0.74. Overlapping area represents the amount of risk that can be diversified away by holding ALBIS LEASING AG and Sixt SE in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sixt SE and ALBIS LEASING 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 ALBIS LEASING AG are associated (or correlated) with Sixt SE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sixt SE has no effect on the direction of ALBIS LEASING i.e., ALBIS LEASING and Sixt SE go up and down completely randomly.
Pair Corralation between ALBIS LEASING and Sixt SE
Assuming the 90 days trading horizon ALBIS LEASING is expected to generate 4.17 times less return on investment than Sixt SE. But when comparing it to its historical volatility, ALBIS LEASING AG is 5.15 times less risky than Sixt SE. It trades about 0.19 of its potential returns per unit of risk. Sixt SE is currently generating about 0.15 of returns per unit of risk over similar time horizon. If you would invest 6,160 in Sixt SE on September 15, 2024 and sell it today you would earn a total of 1,375 from holding Sixt SE or generate 22.32% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Significant |
Accuracy | 100.0% |
Values | Daily Returns |
ALBIS LEASING AG vs. Sixt SE
Performance |
Timeline |
ALBIS LEASING AG |
Sixt SE |
ALBIS LEASING and Sixt SE Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with ALBIS LEASING and Sixt SE
The main advantage of trading using opposite ALBIS LEASING and Sixt SE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ALBIS LEASING position performs unexpectedly, Sixt SE 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 Sixt SE will offset losses from the drop in Sixt SE's long position.ALBIS LEASING vs. Apple Inc | ALBIS LEASING vs. Apple Inc | ALBIS LEASING vs. Apple Inc | ALBIS LEASING vs. Apple Inc |
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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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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