Correlation Between DELCATH SYS and Bet-at-home

Can any of the company-specific risk be diversified away by investing in both DELCATH SYS and Bet-at-home 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 DELCATH SYS and Bet-at-home into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between DELCATH SYS NEW and bet at home AG, you can compare the effects of market volatilities on DELCATH SYS and Bet-at-home 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 DELCATH SYS with a short position of Bet-at-home. Check out your portfolio center. Please also check ongoing floating volatility patterns of DELCATH SYS and Bet-at-home.

Diversification Opportunities for DELCATH SYS and Bet-at-home

0.0

Correlation Coefficient

DELCATH SYS  Bet-at-home

Pay attention - limited upside

The 3 months correlation between DELCATH and Bet-at-home is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding DELCATH SYS NEW and bet at home AG in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on bet at home and DELCATH SYS 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 DELCATH SYS NEW are associated (or correlated) with Bet-at-home. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of bet at home has no effect on the direction of DELCATH SYS i.e., DELCATH SYS and Bet-at-home go up and down completely randomly.

Pair Corralation between DELCATH SYS and Bet-at-home

If you would invest  1,050  in DELCATH SYS NEW on December 23, 2024 and sell it today you would earn a total of  180.00  from holding DELCATH SYS NEW or generate 17.14% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	0.0%
Values	Daily Returns

DELCATH SYS NEW  vs.  bet at home AG

DELCATH SYS NEW

Risk-Adjusted Performance

Modest

Compared to the overall equity markets, risk-adjusted returns on investments in DELCATH SYS NEW are ranked lower than 6 (%) of all global equities and portfolios over the last 90 days. Despite nearly uncertain basic indicators, DELCATH SYS reported solid returns over the last few months and may actually be approaching a breakup point.

bet at home

Risk-Adjusted Performance

Insignificant

Over the last 90 days bet at home AG has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of comparatively stable basic indicators, Bet-at-home is not utilizing all of its potentials. The current stock price uproar, may contribute to short-horizon losses for the private investors.

Pair Trading with DELCATH SYS and Bet-at-home

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

The idea behind DELCATH SYS NEW and bet at home AG 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 CEOs Directory module to screen CEOs from public companies around the world.