Correlation Between Barbara Bui and ACTEOS SA
Can any of the company-specific risk be diversified away by investing in both Barbara Bui and ACTEOS 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 Barbara Bui and ACTEOS SA into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Barbara Bui SA and ACTEOS SA, you can compare the effects of market volatilities on Barbara Bui and ACTEOS 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 Barbara Bui with a short position of ACTEOS SA. Check out your portfolio center. Please also check ongoing floating volatility patterns of Barbara Bui and ACTEOS SA.
Diversification Opportunities for Barbara Bui and ACTEOS SA
-0.17 | Correlation Coefficient |
Good diversification
The 3 months correlation between Barbara and ACTEOS is -0.17. Overlapping area represents the amount of risk that can be diversified away by holding Barbara Bui SA and ACTEOS SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ACTEOS SA and Barbara Bui 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 Barbara Bui SA are associated (or correlated) with ACTEOS SA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ACTEOS SA has no effect on the direction of Barbara Bui i.e., Barbara Bui and ACTEOS SA go up and down completely randomly.
Pair Corralation between Barbara Bui and ACTEOS SA
Assuming the 90 days trading horizon Barbara Bui is expected to generate 1.29 times less return on investment than ACTEOS SA. But when comparing it to its historical volatility, Barbara Bui SA is 5.61 times less risky than ACTEOS SA. It trades about 0.21 of its potential returns per unit of risk. ACTEOS SA is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest 100.00 in ACTEOS SA on December 5, 2024 and sell it today you would earn a total of 2.00 from holding ACTEOS SA or generate 2.0% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
Barbara Bui SA vs. ACTEOS SA
Performance |
Timeline |
Barbara Bui SA |
ACTEOS SA |
Barbara Bui and ACTEOS SA Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Barbara Bui and ACTEOS SA
The main advantage of trading using opposite Barbara Bui and ACTEOS SA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Barbara Bui position performs unexpectedly, ACTEOS 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 ACTEOS SA will offset losses from the drop in ACTEOS SA's long position.Barbara Bui vs. ACTEOS SA | Barbara Bui vs. ST Dupont | Barbara Bui vs. Augros Cosmetic Packaging | Barbara Bui vs. BigBen Interactive |
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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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
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