Correlation Between Athens General and PSI 20
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By analyzing existing cross correlation between Athens General Composite and PSI 20 Stock, you can compare the effects of market volatilities on Athens General and PSI 20 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 Athens General with a short position of PSI 20. Check out your portfolio center. Please also check ongoing floating volatility patterns of Athens General and PSI 20.
Diversification Opportunities for Athens General and PSI 20
0.63 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Athens and PSI is 0.63. Overlapping area represents the amount of risk that can be diversified away by holding Athens General Composite and PSI 20 Stock in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PSI 20 Stock and Athens General 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 Athens General Composite are associated (or correlated) with PSI 20. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PSI 20 Stock has no effect on the direction of Athens General i.e., Athens General and PSI 20 go up and down completely randomly.
Pair Corralation between Athens General and PSI 20
Assuming the 90 days trading horizon Athens General Composite is expected to generate 0.73 times more return on investment than PSI 20. However, Athens General Composite is 1.37 times less risky than PSI 20. It trades about 0.01 of its potential returns per unit of risk. PSI 20 Stock is currently generating about -0.01 per unit of risk. If you would invest 140,118 in Athens General Composite on August 30, 2024 and sell it today you would earn a total of 245.00 from holding Athens General Composite or generate 0.17% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Significant |
Accuracy | 100.0% |
Values | Daily Returns |
Athens General Composite vs. PSI 20 Stock
Performance |
Timeline |
Athens General and PSI 20 Volatility Contrast
Predicted Return Density |
Returns |
Athens General Composite
Pair trading matchups for Athens General
Pair Trading with Athens General and PSI 20
The main advantage of trading using opposite Athens General and PSI 20 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Athens General position performs unexpectedly, PSI 20 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 PSI 20 will offset losses from the drop in PSI 20's long position.Athens General vs. Thrace Plastics Holding | Athens General vs. Athens Medical CSA | Athens General vs. Interlife General Insurance | Athens General vs. National Bank of |
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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
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