Correlation Between Kiriacoulis Mediterranean and Attica Publications

Can any of the company-specific risk be diversified away by investing in both Kiriacoulis Mediterranean and Attica Publications 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 Kiriacoulis Mediterranean and Attica Publications into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Kiriacoulis Mediterranean Cruises and Attica Publications SA, you can compare the effects of market volatilities on Kiriacoulis Mediterranean and Attica Publications 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 Kiriacoulis Mediterranean with a short position of Attica Publications. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kiriacoulis Mediterranean and Attica Publications.

Diversification Opportunities for Kiriacoulis Mediterranean and Attica Publications

0.0

Correlation Coefficient

Kiriacoulis Mediterranean  Attica Publications

Pay attention - limited upside

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

Pair Corralation between Kiriacoulis Mediterranean and Attica Publications

If you would invest  42.00  in Attica Publications SA on September 4, 2024 and sell it today you would earn a total of  1.00  from holding Attica Publications SA or generate 2.38% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	1.59%
Values	Daily Returns

Kiriacoulis Mediterranean Crui  vs.  Attica Publications SA

Kiriacoulis Mediterranean

Risk-Adjusted Performance

0 of 100

Very Weak

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

Attica Publications

Risk-Adjusted Performance

2 of 100

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in Attica Publications SA are ranked lower than 2 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively stable basic indicators, Attica Publications is not utilizing all of its potentials. The newest stock price uproar, may contribute to short-horizon losses for the private investors.

Pair Trading with Kiriacoulis Mediterranean and Attica Publications

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

The idea behind Kiriacoulis Mediterranean Cruises and Attica Publications SA 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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.