Correlation Between RTL Group and RTL GROUP
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By analyzing existing cross correlation between RTL Group SA and RTL GROUP UNSPADR, you can compare the effects of market volatilities on RTL Group and RTL GROUP 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 RTL Group with a short position of RTL GROUP. Check out your portfolio center. Please also check ongoing floating volatility patterns of RTL Group and RTL GROUP.
Diversification Opportunities for RTL Group and RTL GROUP
Almost no diversification
The 3 months correlation between RTL and RTL is 0.97. Overlapping area represents the amount of risk that can be diversified away by holding RTL Group SA and RTL GROUP UNSPADR in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on RTL GROUP UNSPADR and RTL 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 RTL Group SA are associated (or correlated) with RTL GROUP. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of RTL GROUP UNSPADR has no effect on the direction of RTL Group i.e., RTL Group and RTL GROUP go up and down completely randomly.
Pair Corralation between RTL Group and RTL GROUP
Assuming the 90 days trading horizon RTL Group SA is expected to generate 0.75 times more return on investment than RTL GROUP. However, RTL Group SA is 1.34 times less risky than RTL GROUP. It trades about -0.09 of its potential returns per unit of risk. RTL GROUP UNSPADR is currently generating about -0.09 per unit of risk. If you would invest 2,970 in RTL Group SA on September 23, 2024 and sell it today you would lose (330.00) from holding RTL Group SA or give up 11.11% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Very Strong |
Accuracy | 100.0% |
Values | Daily Returns |
RTL Group SA vs. RTL GROUP UNSPADR
Performance |
Timeline |
RTL Group SA |
RTL GROUP UNSPADR |
RTL Group and RTL GROUP Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with RTL Group and RTL GROUP
The main advantage of trading using opposite RTL Group and RTL GROUP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if RTL Group position performs unexpectedly, RTL GROUP 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 RTL GROUP will offset losses from the drop in RTL GROUP's long position.RTL Group vs. KUAISHOU TECHNOLOGY CLB | RTL Group vs. FOX P B | RTL Group vs. News Corporation | RTL Group vs. RTL GROUP UNSPADR |
RTL GROUP vs. Compugroup Medical SE | RTL GROUP vs. Merit Medical Systems | RTL GROUP vs. MeVis Medical Solutions | RTL GROUP vs. Ribbon Communications |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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