Correlation Between Maison Antoine and Pullup Entertainment

Can any of the company-specific risk be diversified away by investing in both Maison Antoine and Pullup Entertainment 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 Maison Antoine and Pullup Entertainment into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Maison Antoine Baud and Pullup Entertainment Socit, you can compare the effects of market volatilities on Maison Antoine and Pullup Entertainment 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 Maison Antoine with a short position of Pullup Entertainment. Check out your portfolio center. Please also check ongoing floating volatility patterns of Maison Antoine and Pullup Entertainment.

Diversification Opportunities for Maison Antoine and Pullup Entertainment

-0.37

Correlation Coefficient

Maison Antoine  Pullup Entertainment

Very good diversification

The 3 months correlation between Maison and Pullup is -0.37. Overlapping area represents the amount of risk that can be diversified away by holding Maison Antoine Baud and Pullup Entertainment Socit in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Pullup Entertainment and Maison Antoine 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 Maison Antoine Baud are associated (or correlated) with Pullup Entertainment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Pullup Entertainment has no effect on the direction of Maison Antoine i.e., Maison Antoine and Pullup Entertainment go up and down completely randomly.

Pair Corralation between Maison Antoine and Pullup Entertainment

Assuming the 90 days trading horizon Maison Antoine is expected to generate 1.84 times less return on investment than Pullup Entertainment. But when comparing it to its historical volatility, Maison Antoine Baud is 4.21 times less risky than Pullup Entertainment. It trades about 0.15 of its potential returns per unit of risk. Pullup Entertainment Socit is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest  1,900  in Pullup Entertainment Socit on September 12, 2024 and sell it today you would earn a total of  235.00  from holding Pullup Entertainment Socit or generate 12.37% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Insignificant
Accuracy	100.0%
Values	Daily Returns

Maison Antoine Baud  vs.  Pullup Entertainment Socit

Maison Antoine Baud

Risk-Adjusted Performance

11 of 100

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Maison Antoine Baud are ranked lower than 11 (%) of all global equities and portfolios over the last 90 days. Even with relatively weak basic indicators, Maison Antoine may actually be approaching a critical reversion point that can send shares even higher in January 2025.

Pullup Entertainment

Risk-Adjusted Performance

5 of 100

Modest

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

Pair Trading with Maison Antoine and Pullup Entertainment

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

The idea behind Maison Antoine Baud and Pullup Entertainment Socit 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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.