Correlation Between Flint Telecom and SASI Old

Can any of the company-specific risk be diversified away by investing in both Flint Telecom and SASI Old 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 Flint Telecom and SASI Old into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Flint Telecom Group and SASI Old, you can compare the effects of market volatilities on Flint Telecom and SASI Old 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 Flint Telecom with a short position of SASI Old. Check out your portfolio center. Please also check ongoing floating volatility patterns of Flint Telecom and SASI Old.

Diversification Opportunities for Flint Telecom and SASI Old

0.0

Correlation Coefficient

Flint Telecom  SASI Old

Pay attention - limited upside

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

Pair Corralation between Flint Telecom and SASI Old

If you would invest  119.00  in Flint Telecom Group on October 24, 2024 and sell it today you would earn a total of  16.00  from holding Flint Telecom Group or generate 13.45% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	1.67%
Values	Daily Returns

Flint Telecom Group  vs.  SASI Old

Flint Telecom Group

Risk-Adjusted Performance

5 of 100

Modest

Compared to the overall equity markets, risk-adjusted returns on investments in Flint Telecom Group are ranked lower than 5 (%) of all global equities and portfolios over the last 90 days. Even with relatively inconsistent basic indicators, Flint Telecom reported solid returns over the last few months and may actually be approaching a breakup point.

SASI Old

Risk-Adjusted Performance

0 of 100

Very Weak

Over the last 90 days SASI Old has generated negative risk-adjusted returns adding no value to investors with long positions. Despite fairly strong basic indicators, SASI Old is not utilizing all of its potentials. The current stock price confusion, may contribute to short-horizon losses for the traders.

Pair Trading with Flint Telecom and SASI Old

The main advantage of trading using opposite Flint Telecom and SASI Old positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Flint Telecom position performs unexpectedly, SASI Old 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 SASI Old will offset losses from the drop in SASI Old's long position.

The idea behind Flint Telecom Group and SASI Old 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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.