Correlation Between Via Optronics and AT S

Can any of the company-specific risk be diversified away by investing in both Via Optronics and AT S 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 Via Optronics and AT S into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Via Optronics Ag and AT S Austria, you can compare the effects of market volatilities on Via Optronics and AT S 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 Via Optronics with a short position of AT S. Check out your portfolio center. Please also check ongoing floating volatility patterns of Via Optronics and AT S.

Diversification Opportunities for Via Optronics and AT S

0.0

Correlation Coefficient

Via Optronics  AT S

Pay attention - limited upside

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

Pair Corralation between Via Optronics and AT S

If you would invest (100.00) in Via Optronics Ag on December 24, 2024 and sell it today you would earn a total of  100.00  from holding Via Optronics Ag or generate -100.0% return on investment over 90 days.

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

Via Optronics Ag  vs.  AT S Austria

Via Optronics Ag

Risk-Adjusted Performance

Very Weak

Over the last 90 days Via Optronics Ag has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of very healthy basic indicators, Via Optronics is not utilizing all of its potentials. The latest stock price disarray, may contribute to short-term losses for the investors.

AT S Austria

Risk-Adjusted Performance

Very Weak

Over the last 90 days AT S Austria has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Stock's basic indicators remain nearly stable which may send shares a bit higher in April 2025. The current disturbance may also be a sign of long-run up-swing for the company stockholders.

Pair Trading with Via Optronics and AT S

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

The idea behind Via Optronics Ag and AT S Austria 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 Transaction History module to view history of all your transactions and understand their impact on performance.