Correlation Between Cint Group and High Coast
Specify exactly 2 symbols:
By analyzing existing cross correlation between Cint Group AB and High Coast Distillery, you can compare the effects of market volatilities on Cint Group and High Coast 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 Cint Group with a short position of High Coast. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cint Group and High Coast.
Diversification Opportunities for Cint Group and High Coast
0.48 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Cint and High is 0.48. Overlapping area represents the amount of risk that can be diversified away by holding Cint Group AB and High Coast Distillery in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on High Coast Distillery and Cint Group 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 Cint Group AB are associated (or correlated) with High Coast. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of High Coast Distillery has no effect on the direction of Cint Group i.e., Cint Group and High Coast go up and down completely randomly.
Pair Corralation between Cint Group and High Coast
Assuming the 90 days trading horizon Cint Group AB is expected to under-perform the High Coast. In addition to that, Cint Group is 1.35 times more volatile than High Coast Distillery. It trades about -0.21 of its total potential returns per unit of risk. High Coast Distillery is currently generating about -0.01 per unit of volatility. If you would invest 4,500 in High Coast Distillery on December 2, 2024 and sell it today you would lose (200.00) from holding High Coast Distillery or give up 4.44% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Weak |
Accuracy | 100.0% |
Values | Daily Returns |
Cint Group AB vs. High Coast Distillery
Performance |
Timeline |
Cint Group AB |
High Coast Distillery |
Cint Group and High Coast Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Cint Group and High Coast
The main advantage of trading using opposite Cint Group and High Coast positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cint Group position performs unexpectedly, High Coast 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 High Coast will offset losses from the drop in High Coast's long position.Cint Group vs. Sinch AB | Cint Group vs. Stillfront Group AB | Cint Group vs. Truecaller AB | Cint Group vs. BICO Group AB |
High Coast vs. Lime Technologies AB | High Coast vs. TradeDoubler AB | High Coast vs. Swedbank AB | High Coast vs. Indutrade AB |
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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
Other Complementary Tools
FinTech Suite Use AI to screen and filter profitable investment opportunities | |
Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments | |
Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum | |
Global Correlations Find global opportunities by holding instruments from different markets |